LCCI advises FG to explore potential in non-oil sector to diversify economy

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Lagos  –  Alhaji Remi Bello, the President, Lagos Chamber of Commerce and Industry (LCCI), has advised the Federal Government to explore the potential in non-oil sector to diversify the economy.

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He made the call at the opening ceremony of the 2015 Lagos International Trade Fair in Lagos on Friday.

Bello said that the economic challenges in the country which arose from the dwindling prices of crude oil had made diversification of the economy very crucial now.

He said that reports from the National Bureau of Statistics (NBS) showed that the non-oil sector drove the growth of the economy with a contribution of 90.20 per cent to the GDP in the second quarter.

The LCCI President said that with the theme of the fair: “Enhancing Value Addition in the Non-oil Economy”, attention would be drawn to development of non-oil exports as a way of improving the country’s earnings.

He said that the fair would provide a platform for exposing the alternatives and their value addition to the growth of the economy.

Bello urged the government to fix impediments to the growth of non-oil economic activities and also focus on opportunities in value addition business to boost growth.

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Mr Jani Ibrahim, the Vice-President of NACCIMA, urged the government to develop young entrepreneurs from the university so that that they could add value to the country’s economy.

Oba Rilwan Akiolu, Oba of Lagos, also urged the government to create an enabling environment through its policies to attract investors to the country.

NAN reports that the fair, which started on Nov.6, will end on Sunday, Nov. 15. (NAN)


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