The Lagos Chamber of Commerce and Industry (LCCI) has lauded President Bola Tinubu’s government’s commitment to implementing power projects and a new minimum wage.

In a statement in Lagos on Tuesday, LCCI praised the government for its dedication to improving agriculture and the business environment.

The LCCI director-general, Chinyere Almona, signed the statement.

The LCCI was reacting to Mr Tinubu’s New Year’s broadcast on Monday.

In the broadcast, Mr Tinubu assured Nigerians of his administration’s readiness to address critical issues affecting the country.

According to LCCI, the government’s commitment to power projects, including the Siemens Energy initiative and the effort to enhance the reliability of transmission lines, is a positive step toward addressing poor electricity supply.

LCCI, however, said the government would need to consider bringing private sector investment into the transmission segment of the power sector to ensure adequate technical and financial capacity.

“The focus on cultivating farmlands to grow staple crops and boost food security aligns with the need to ensure constant food supply, security and affordability for citizens.

“However, LCCI cautions that the productivity of the farmlands and the effectiveness of investments in food production are subject to adequate security measures.

“LCCI recommends that the government considers fast-tracking the movement of the police from the exclusive list to the concurrent list to be legislated upon by the federal and state governments,” the body stated.

It added, “This will guarantee effective policing of the nooks and crannies of the society, including farmlands.”

LCCI also mentioned that the president’s announcement of a new national living wage was a positive step toward ensuring the well-being of workers and promoting inclusive economic growth.

It added that the dedication to creating a conducive business environment was commendable and that the call for collaboration with the private sector aligned with the chamber’s vision for a thriving business environment.

However, LCCI noted that the broadcast did not mention specific strategies to address the potential ripple effects of fuel subsidy removal on the cost of living.

It said this gave room for concerns about the impact on the citizens.

The chamber also noted that, while efforts to address security challenges were mentioned in the broadcast, details on comprehensive security strategies were limited.

It added that the government’s commitment to building a fair and equitable society and addressing inequality was commendable, but specific policy measures to close the widening wealth gap were unclear.

“The LCCI appreciates the president’s efforts to address these critical issues facing the nation. However, the chamber urges the administration to provide more detailed plans and strategies to tackle inflation, under-employment, security challenges and social inequality, among other issues,” it said.

(NAN)