November 22, 2017

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Friday, July 26, 2013

Investors prefer Southwest, says LCCI -

Friday, July 26, 2013

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Thursday, July 25, 2013

Investors prefer Southwest, says LCCI

Investors prefer Southwest, says LCCI... NAIJA INTEL

Which part of the country is most suitable for doing business? It is the Southwest, says the Lagos Chamber of Commerce and Industry (LCCI), quoting investors’ and entrepreneurs’ preference.

In a statement, tagged: ‘The Nigerian Business Confidence Index (BCI),” LCCI said: “The confidence level of businesses located in the Southwest inched to a new high of 44 per cent from 38per cent and 30 per cent in Q2 and Q1.

“This is followed by companies operating in the Southeast and Southsouth, with BCI score of 31 per cent and 21 per cent respectively.”

The report said the confidence level of businesses in the Northcentral, which dropped to zero in Q2 improved dramatically with BCI score of 11 per cent. “Northeast and Northwest continue to trail between the negative and neutral confidence trajectories. We look to see how far the on-going security operation in some Northern states will impact business confidence in our Q4-2013 BCI survey,” it stated.

LCCI said the third quarter 2013 aggregate BCI sustained a positive improvement of 24 per cent from the 16.5 per cent and 10.5per cent it achieved in Q2 and Q1. This represents 13.5 per cent point movement of the index along a positive trajectory since the beginning of this year.

The steady and significant improvement of the BCI, according to the repor, suggests that business leaders are gearing towards expanding their investments and plant size in the months to come.

He said apart from the recurrent factors such as poor access to credit, security situation and the dwindling public power supply, the index posted impressive confidence across most business and economic indicators.

LCCI_LOGO... Investors prefer Southwest, says LCCI... NAIJA INTEL

LCCI_LOGO… Investors prefer Southwest, says LCCI… NAIJA INTEL

He also said that budget implementation and Federal Government’s security intervention in some parts of the North, impressive corporate results and the modest trends of exchange and inflation rate tend to have supported the record rise of business confidence in that section of country. The Director General of Lagos Chamber of Commerce, Muda Yusuf said for the first time, the financial sector recorded the highest confidence of 35 per cent closely followed by Hotel & Restaurant and Telecoms & Postal sectors 29per cent and 27 per cent confidence levels respectively.

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IMAGES: www.caterinademediciafrica.com / www.thepost-ng.com

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