By Amara Osei

Nigeria’s Federal Government has received six policy demands from the Lagos Chamber of Commerce and Industry as the country enters the final quarter of 2026. The chamber seeks urgent action against decelerating energy supply, especially in productive sectors, alongside reforms to reduce operating costs, support small and medium-sized enterprises (SMEs) and stimulate economic recovery.

Dr Chinyere Almona, LCCI director-general, said: “Coordinated policy measures were necessary to ease production constraints and improve conditions for businesses across the country.” Her submission identifies high electricity and transportation expenses as major cost pressures on small manufacturers, retailers and service providers.

What are the six policy demands?

The LCCI’s demands cover energy and logistics, industrial support, inflation, taxation, agriculture and institutional engagement.

• Reduce energy and transportation costs through reliable electricity, efficient domestic refining and distribution, better transport infrastructure and removal of unnecessary charges across supply chains.
• Accelerate support for manufacturers and SMEs through affordable financing, dependable power, improved industrial infrastructure and more efficient import and export procedures.
• Sustain disinflation, meaning a sustained decline in the rate of price increases, while protecting productive investment and considering interest rates’ effect on credit availability.
• Simplify tax compliance and taxpayer education, harmonise overlapping charges, establish transparent dispute resolution and review regulations that impose disproportionate costs on SMEs.
• Strengthen agricultural value chains through public investment, improved security in farming communities and better farm-to-market transportation.
• Institutionalise engagement between government and organised businesses to improve policy implementation, resolve operational problems and strengthen accountability.

How does LCCI expect lower energy costs to support production?\n

Almona called for improved electricity supply, stronger domestic refining and distribution efficiency, better transport infrastructure and removal of unnecessary supply-chain charges. She said government efforts to moderate petrol price volatility should produce lower and more predictable energy costs for businesses.

The LCCI linked better electricity and logistics directly to operating expenses and competitiveness. More reliable power and lower logistics costs could help small manufacturers, retailers and service providers reduce expenses and compete more effectively, according to the chamber.

What financing and industrial support do manufacturers need?\n

The chamber urged development finance institutions to provide transparent financing arrangements for viable businesses. It said interventions should improve productivity, production capacity, technology adoption and employment.

For manufacturers and SMEs, the LCCI recommended affordable financing, reliable electricity, improved industrial infrastructure and more efficient import and export procedures. The chamber said affordable finance could enable SMEs to purchase equipment, expand production, adopt new technologies and employ more workers.

How should monetary and fiscal policy support investment?\n

Almona said monetary policy should remain consistent with price stability while considering the effects of interest rates on credit availability for productive businesses. Fiscal policy should complement monetary measures by addressing supply-side constraints, improving infrastructure and strengthening domestic production.

This balance reflects the LCCI’s position that price stability must coexist with investment financing. The chamber wants monetary and fiscal measures to reduce production constraints rather than leave enterprises facing weaker power, inadequate infrastructure or limited domestic output.

What changes does LCCI seek in taxation and regulation?\n

The chamber called for simplified compliance procedures, effective taxpayer education, harmonisation of overlapping charges and transparent dispute-resolution mechanisms. It also recommended reviewing regulations that impose disproportionate costs on SMEs, encouraging formalisation, investment and expansion.

Simpler tax procedures and harmonised charges could reduce the administrative and financial burden on small businesses, particularly those seeking to formalise operations. The LCCI identified multiple regulatory obligations, alongside expensive power and transport, as central constraints on smaller enterprises.

Can agricultural investment lower food prices?\n

The chamber urged increased government investment in irrigation, mechanisation, storage facilities, rural roads, agricultural financing and agro-processing. It also called for measures to address insecurity in farming communities and improve transportation of agricultural produce from farms to markets.

Almona said: “Reducing food prices requires an efficient agricultural value chain that minimises wastage, transportation expenses and unnecessary intermediaries.” The LCCI expects better storage, irrigation, rural roads and agricultural finance to reduce post-harvest losses and improve access to markets.

Why does LCCI want institutionalised government-business engagement?\n

Institutionalised engagement between government and organised businesses could improve policy implementation, address operational challenges and strengthen accountability. Almona said such forums should allow stakeholders to assess policy outcomes and resolve problems affecting businesses.

The LCCI said these arrangements would give government and businesses a formal mechanism for tracking implementation and addressing barriers to production. The proposed forums would connect national policy decisions with the operating conditions facing enterprises.

What outcomes does the chamber expect?\n

The LCCI maintained that the next phase of economic reforms should turn macroeconomic improvements, or stronger overall economic performance, into lower business costs, stronger domestic production, higher productivity and employment.

Its six demands directly address three obstacles identified for small businesses: high electricity and transportation expenses, limited access to affordable finance and multiple regulatory obligations. The strategic logic links energy access, industrial finance, simpler compliance and logistics investment to competitiveness, while agricultural infrastructure and market access address food prices and productivity.