The Lagos Chamber of Commerce and Industry (LCCI) has said the worsening state of insecurity in the country is already taking a severe toll on investors’ confidence.
In a press released signed by the President of the chamber, Mr Goddie Ibru , LCCI stated that the situation has continued to aggravate investment risks in virtually all respects with turnover of businesses on the decline.
“Access to markets is becoming difficult, the risk to profitability and business sustainability is heightened.
Above all, the risk to lives and property is at an all-time high. Unless something is done very urgently to reverse this state of affairs, the benefits of the recent reforms and macro-economic management might be completely eroded.
“It is regrettable as well, that the incidence of kidnapping has become widespread with a profound negative impact on the psyche of investors and the citizens as a whole. The latest in the series of kidnapping was the case of the wife of a Supreme Court Judge (Mrs Rhodes-Vivour) who was kidnapped along with the daughter.
“Besides being a respected legal practitioner and arbitrator, Mrs Rhodes Vivour is valuable asset to the legal profession, the arbitration community and the Chamber of Commerce movement,” he said.
The Chamber urge the security agencies to scale up their rescue efforts to salvage this and similar situations.
The Nation
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