Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed dissatisfaction with the private sector’s performance under President Bola Tinubu’s administration in 2024.
According to the group, economic policies implemented over the past year have failed to yield the desired growth and stability for businesses.
Key issues highlighted by NACCIMA include high inflation, rising unemployment, and inconsistent fiscal policies, all of which have hindered private sector growth.
Business owners have complained about limited access to credit, high operational costs, and inadequate infrastructure, which have made it difficult to remain competitive.
NACCIMA is urging the government to prioritize reforms that address structural economic challenges, including the over-reliance on oil revenue and the need for diversification. Suggestions include investing in renewable energy, improving agricultural productivity, and enhancing the ease of doing business to attract foreign investment.
In response, the government has pointed to its ongoing efforts to stabilize the naira, boost exports, and attract foreign direct investment. However, critics argue that more immediate and targeted actions are needed to restore confidence in the economy.
The association has called for a comprehensive review of current economic policies, warning that continued stagnation could further erode public trust and worsen Nigeria’s socioeconomic challenges. The private sector is seen as a critical driver of economic recovery, and its success is closely tied to the administration’s ability to implement effective reforms.
Also Read:
El-Rufai denies defection to PDP
President Tinubu to Attend Ghanaian President Swearing-in
Popular socialite ‘Cash Madam’ dies at 89
cc: The Sun Ng
