NBCC Urges Urgent Measures to Address Economic Challenges in Nigeria

The Nigerian British Chamber of Commerce (NBCC) has called on the federal government to take urgent actions to address economic challenges, including mopping up excess cash in circulation and curbing the high inflation rate, which closed at 28.92 percent in the previous year.

President of NBCC, Mr. Ray Atelly, expressed concern that well-run companies in Nigeria are struggling to meet their obligations, emphasizing the need for prompt government intervention. Atelly recommended stopping the printing of Naira and instead focusing on reducing excess cash and addressing the inflation rate.
He emphasized the importance of providing export incentives, encouraging local production, and implementing a population policy to achieve sustainable economic growth.

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