LCCI Urges FG to Tackle Energy Crisis, Reduce Rising Cost of Doing Business in Nigeria

According to The Sun Nigeria News on November 9, 2026, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to urgently address the country’s worsening energy supply challenges and rising operating costs affecting businesses, particularly manufacturers and small and medium-sized enterprises (SMEs).

The Chamber also urged the government to introduce comprehensive economic measures to improve the business environment, strengthen productive activities and stimulate economic recovery as Nigeria enters the final quarter of 2026.

The Director General of LCCI, Dr Chinyere Almona, said coordinated government policies were necessary to address production challenges, reduce the cost of doing business and create a more favourable environment for private sector growth.

Among the major recommendations presented to the government were reducing energy and transportation costs, expanding support for manufacturers and SMEs, sustaining efforts to control inflation, improving the tax and regulatory system, strengthening agricultural value chains and promoting regular engagement between the government and private-sector operators.

Speaking on energy and transportation challenges, Almona called for improved electricity supply, efficient domestic refining and petroleum distribution, better transport infrastructure and the removal of unnecessary charges across supply chains.

She stressed that government efforts to stabilize petrol prices should translate into affordable and predictable energy costs for businesses.

The Chamber further urged the Federal Government and development finance institutions to provide accessible and transparent financing arrangements for viable businesses. It said such interventions should prioritise increased production capacity, technological advancement, job creation and business expansion.

On inflation and investment, Almona advised that monetary policies should remain focused on price stability while considering the impact of high interest rates on businesses seeking loans to finance productive activities.

She also called for fiscal policies that complement monetary measures through improved infrastructure, increased domestic production and the removal of supply side constraints.

Regarding taxation, the LCCI recommended simplified compliance procedures, improved taxpayer education, harmonization of overlapping charges and transparent mechanisms for resolving tax disputes.

The Chamber also emphasized the need for increased investment in agriculture through irrigation, mechanisation, storage facilities, rural roads, affordable financing and agro-processing.

It further called for stronger security in farming communities to improve agricultural production and the movement of food from farms to markets.

Almona maintained that reducing food prices would require an efficient agricultural value chain capable of minimising post harvest losses and transportation expenses.

The LCCI also advocated stronger government-private sector collaboration to monitor policy implementation and address challenges affecting businesses.

It maintained that economic reforms must translate into lower operating costs, increased productivity, stronger domestic production and sustainable employment opportunities.

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