The Lagos Chamber of Commerce and Industry (LCCI) has signed a memorandum of understanding with the Oxford Business Group (OBG) which provides economic and business intelligence reports on global markets regarding its forthcoming publication themed ‘Nigeria 2020’.
The agreement between the two groups will require the LCCI to help produce the report and as well provide a platform that will make it accessible to various groups in conjunction with the Nigerian Investment Promotion Council.
The Nigeria 2020 report is the 8th edition of reports conducted and released by the OBG and will highlight the key role that an infrastructure drive planned for the agricultural, manufacturing and service industry is expected to play in attracting new investors and boosting inflows. It will also examine the country’s efforts to develop the green energy segment which is being primed to play a pivotal role in boosting power provision.
Muda Yusuf, director-general of the LCCI, said he was delighted to partner with the OBG on its forthcoming report, especially as it will keep investors informed of the latest development in Nigeria’s evolving economy.
“Despite being a key regional player and the largest economy on Africa, Nigeria has historically struggled to provide investors with the up-to-date reliable business intelligence they need to make informed decisions.
“As a market leader, Oxford Business Group has played a key role in filling this void since launching its operations here, furnishing representatives from both the private and public sectors with extensive accurate data and analysis on the rapidly changing domestic economic landscape.”
Speaking on the country’s economic development, Yolanda Mureno, editorial manager for OBG Nigeria, said the country’s return to positive growth is reassuring for both the domestic and international business community.
“Political stability following the re-election of the President Buhari in 2019 and his mandate to continue the fight against corruption are also positive signals for the business community,” Mureno said.
Christophe Bonami, OBG’s country director for Nigeria, said that as the country is making plans to bridge infrastructure gaps, encourage innovation and galvanise growth outside the oil sector through economic diversification. This will mark the beginning of exciting times for the country.
“The Lagos Chamber of Commerce and Industry has long been a driving force on the city’s business scene, with its efforts to promote trade and commerce, encourage investment and support entrepreneurial activity delivering positive results both locally and nationally.”
Bonami also stated that the report is to be ready by the 3rd quarter of 2020.
The report is a result of over 10 months of field research by a team of analyst from the OBG. It contains contributions from leading representatives across the public and private sector.
Gbemi Faminu
