Following the report of the National Bureau of Statistics (NBS), which showed Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2024 recorded a 3.19 per cent year-on-year growth in real terms, the Lagos Chamber of Commerce and Industry (LCCI) has tasked the federal government to implement focused interventions in the industrial, agricultural and oil and gas sectors in order to sustain the growth momentum.
Director General of LCCI, Chinyere Almona, stated this in a public statement titled “LCCI Statement on Nigeria’s 2024 Second Quarter Economic Growth Indicator and on Sustaining Economic Growth,” where the chamber urged the government to implement the Petroleum Industry Act (PIA) to the letter.
The 3.19 per cent GDP growth in the second quarter 2024 surpassed both the 2.51 per cent growth in the second quarter of 2023 and the 2.98 per cent recorded in the first quarter of 2024.
The LCCI, therefore, recommended improvement in the power sector to sustain the growth momentum in the industrial sector.
