Dr Chinyere Almona, the Director-General, Lagos Chamber of Commerce and Industry (LCCI), has called on the government and other stakeholders to retool the economy, bearing in mind that it has not performed optimally despite the various policies deployed by various administrations.
Almona who spoke during an interview decried how the economy is almost dependent on revenue from crude oil, a development that has exposed it to external shocks.
“Over the last few decades, the challenges of production in the economy have grown progressively largely because of the quality of infrastructure, which is why the risk of industrial investment is high and continues to increase.
"The various policy interventions have not had the desired impact on the sector.
"Unless there is effective and sustained protection and support for the sector, and a dramatic improvement in infrastructure, the outlook for the sector will remain gloomy, particularly for the small-scale industries,” she said.
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