The newly decorated Vice President of the Lagos Chamber of Commerce and Industry (LCCI), Princess Layo Bakare Okeowo, has disclosed that the new exco of the chamber will be focusing on incentive policies that would not only drive businesses forward but also, foster growth and development of the country’s economy in the wake of the prevailing macro-economic challenges in the country.
She made this known in an interview with The Guardian during the inauguration and investiture of the chambers’ new executives in Lagos recently. She said that it is time for attention to be shifted to ameliorating the pains and hardships of business owners and households in the country.
Princess Okeowo, who is also the Managing Director of FAE Limited, explained that the new exco would intensify its advocacy policies as a leading member of the Organized Private Sector (OPS) in Nigeria, by networking, collaborating and liasing with the Federal and State governments, including other relevant agencies of government to bring succour to businesses in the country during this administration.
According to her, they are willing and ready to collaborate on concrete ideas, suggestions and inputs, which would move businesses forward, in light of the country’s fragile economy and at the same time, also maintain the momentum towards advocating for growth and development of SMEs in the country.
The renowned industrialist stated that government at all levels need to do more to support businesses, especially the manufacturing sector and micro, small and medium-size enterprises (MSMEs), with bailout funds and incentives that will leapfrog them out of the current quagmires in the economy at the moment.
“I’m very excited to be the vice president of this great chamber and happy to be working with President Gabriel Idahosa, a well-respected leader. We are determined to improve the chamber in its advocacy policies and intervene positively in moving businesses forward and the Nigerian economy as a whole.”
Speaking on the state of the country’s manufacturing sector, she said, “Currently, manufacturers are bleeding and we just need the federal government to give us support like bailouts and incentives that will help us with our businesses. There is no FX for the importation of raw materials or manufacturing of goods.
With the current situation, it has dawned on everybody that we must take backward integration seriously as a way to bail out the economy from this dire strait. I know everything has to be gradual, but what is happening now in the economy is affecting the real sector negatively. Manufacturing is the bedrock of any economy. We need urgent assistance, and God and the federal government’s help to alleviate our sufferings and hardships in this sector,” she said.
