LCCI Advocates Investment in Digital Transformation, Energy Transition

Started by toluwalopesong, Jan 02, 2025, 10:38 PM

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toluwalopesong

Jan 02, 2025, 10:38 PM
LCCI Advocates Investment in Digital Transformation, Energy Transition


Lagos Chamber of Commerce and Industry (LCCI)
The Lagos Chamber of Commerce and Industry (LCCI) has called on stakeholders to prioritize investments in digital transformation and energy transition as critical pathways for Nigeria's economic growth. Speaking at a recent forum, LCCI President, Dr. Michael Olawale-Cole, emphasized the urgent need for Nigeria to embrace innovative technologies and sustainable energy solutions to remain competitive in the global market.

"Digital transformation is no longer optional but a necessity for businesses to thrive in today's fast-evolving world," Dr. Olawale-Cole stated. He highlighted how integrating advanced technologies such as artificial intelligence, blockchain, and IoT can drive efficiency and productivity across various sectors, including the oil and gas industry.

On energy transition, the LCCI president stressed the importance of reducing reliance on fossil fuels and accelerating the adoption of cleaner energy sources such as Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and renewable energy. He noted that the global shift toward sustainability presents Nigeria with an opportunity to reposition its energy sector while addressing environmental concerns.

The LCCI also urged the government to create a conducive environment for private-sector participation by implementing policies that encourage investments in both digital and energy infrastructures. These include tax incentives, streamlined regulatory frameworks, and partnerships with international organizations to fund and support these initiatives.

Stakeholders at the forum echoed the LCCI's sentiments, emphasizing that strategic investments in digital transformation and energy transition are essential for Nigeria to achieve sustainable economic growth and development in the coming decades.
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