New Telegraph

LCCI Backs FG’s Reforms to Reposition Mining Sector

The Lagos Chamber of Commerce and Industry (LCCI) has disclosed that it is backing Federal Government’s plan to reposition the country’s mining industry to contribute 50 per cent to Nigeria’s Gross Domestic Product (GDP). Precisely, government’s directives, according to the LCCI, will sanitise the country’s mining industry, which it lamented had been hijacked by foreigners at the detriment of Nigerians.

With this in place, LCCI is calling on the Federal Government to give more opportunity to Nigerians and local firms to operate in the country’s mining industry, saying that foreign dominance in the sec- tor was leading to job losses and capital flights, which are detrimental to Nigeria’s GDP growth. The President of LCCI, Dr. Michael Olawale-Cole, made this known at the LCCI 135th Annual General Meeting (AGM) in Lagos yesterday.

Olawale-Cole said: “Let’s give our local peo- ple the opportunity in the mining sector in the country. Giving foreigners jobs in our mining sector is like creating jobs exploitation and foreign capital flights. “We should make sure that we give employment in the mining sector to Nigerians, so that they can take advantage of what belongs to us.”

While speaking on the state of the country’s petroleum industry, the LCCI president explained that the current administration of President Bola Tinubu must do everything possible to support Dangote refinery to start oil production in order for the country to earn more foreign exchange for developmental purposes. Similarly, Olawale- Cole said that government must ensure that the country’s refineries worked in order to reduce the huge import bill on fuel importation.

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