The Lagos Chamber of Commerce and Industry (LCCI) has called for ‘cautious optimism’, regarding the nation’s economic prospects for individuals and businesses, in Year 2025.

The Chamber, in its preview of the nation’s economy in 2025 signed by its President, Mr. Gabriel Idahosa, on Monday, noted that the nation’s Gross Domestic Product (GDP) growth, projected at 3.2% in the new year, must be taken with caution, since such projection is hinged on the ongoing reforms, and more substantial contributions from the oil and non-oil sectors.

It called on the federal government to address the existing infrastructure gaps and come up with innovative funding models and enhanced public-private partnerships, to enable it to achieve some of the objectives outlined in the budget.

The business advocacy group also advised businesses, desirous of staying relevant in the new year, to embrace innovation, digital transformation, and sustainability as growth strategies.

The group also predicted a further reduction in the price of petrol, and ease in inflation, in the second quarter of 2025, as the price war in the downstream sector of the nation’s Oil and Gas continues.

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