The Lagos Chamber Of Commerce and Industry (LCCI) has expressed regret that over the past 62years the Nigerian economy has changed from a principally independent agrarian economy to a net importer of finished goods.
In a statement to commemorate the nation’s 62nd independence anniversary, the Director General of LCCI, Dr. Chinyere Almona noted with sadness that oil constitutes the nation’s major source of revenue, which has exposed the economy to the effects of external shocks.
“In the last 62 years, the Nigerian economy has performed along the line of what policy mix used to drive the economy. Our economy has significantly transformed from a principally independent agrarian economy to a net importer of finished goods.”
She, however, commended the resoluteness of the country as it remains united despite strong headwinds
“After independence, Nigeria witnessed a rebirth in 1999, twenty-three years ago, with the return to democratic administration after a protracted military rule. The Nigerian nation has survived threats of a civil war recurrence and has remained a united nation with the hope of a return to greater glory. The 23 years of uninterrupted democracy in Nigeria has earned the country enormous goodwill as one of the few stable democracies in Africa.” Almona noted.
The LCCI DG called for the government to advance the common good for all citizens through entrenchment of core democratic values and ideals including; transparency in the management of public finance, the rule of law, separation of powers and the inherent checks and balances.
She also made case for; quality and independence of democratic institutions – Electoral bodies, Law Enforcement Agencies, Judiciary, etc, citizen engagement in the democratic process and the practice of true Federalism.
In her words, “The LCCI recognizes that Nigerian democracy is still a work in progress. However, as in many advanced democracies, it is crucial to recognize the importance of these democratic ideals to sustain our democracy and ensure the advancement of the common good for all citizens.
“And very recently, a mixed colouration of insecurity, border clashes, herdsmen/farmers clashes, banditry, kidnapping, and social unrest have all emerged as critical threats to our national life. And as we prepare for the general elections next year, we call on the Federal Government to ensure a free and fair exercise solely driven by sound electoral laws and governance.
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