Director-General, the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has noted inconsistencies between the federal government’s vision of achieving a $1 trillion economy in the next six years and the 2024 – 2026 Medium-Term Expenditure Framework (MTEF).
The Director-General added that the macroeconomic projections in the MTEF state that the economy will grow by 3.76 per cent, 4.22 per cent and 4.78 per cent in 2024, 2025 and 2026, respectively whereas the projected growths are sub-optimal to achieving a $1 trillion gross domestic product (GDP) by 2029, which implies an average growth of 21 per cent over the next six years.
Expressing deep concern over the worsening state of the economy, particularly the volatile foreign exchange, high inflation and general uncertainty, she said the challenges and many more have been inimical to businesses and overall productivity.
“Over the years, the Chamber has…
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