The Lagos Chamber of Commerce and Industry, LCCI, has lamented the worsening state of insecurity in the country, saying it is already taking a severe toll on investors' confidence.
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Speaking at the presentation of the 2013 Lagos International Trade Fair prospectus, (LITF), Tuesday, the President of LCCI, Mr. Goodie Ibru, said the situation has continued to aggravate investment risks and virtually all aspect of businesses is on the decline, while access to markets is becoming difficult; the risk to profitability and business sustainability heightened. "The risks to lives and property are at an all time high. Unless something is done very urgently to reverse this state of affairs, the benefits of the recent reforms and macro-economic management might be completely eroded," he said.
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According to him, it is regrettable as well that the incidence of kidnapping has become wide spread with a profound negative impact on the psyche of investors and the citizens as a whole.