The Lagos Chamber of Commerce and Industry has projected a high cost of doing business in 2020. He attributed the projected high cost to poor infrastructure, the multiplicity of levies, excessive regulations, among others. He said the performance of the trade sector in 2020 would be shaped by the direction of government policies. “Elsewhere, the level of the country’s engagement in Africa Continental Free Trade Area scheduled to kick-off July 1, 2020, will also impact the performance of trade sector. “As a sustainable solution, it is imperative to fix the fundamental issues of high cost of domestic production, the prohibitive cost of cargo clearing at the Lagos ports, prohibitive import tariffs, high cost of logistics within the economy, and border policy capacity,” he saidNAN

Source: Punch December 27, 2019 08:37 UTC