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‘Continued disregard for COVID-19 protocols prolonging economic recovery’

‘Continued disregard for COVID-19 protocols prolonging economic recovery’

Economy
With many sectors yet to re-open, while commercial activities remain subdued, the Lagos Chamber of Commerce and Industry (LCCI), has expressed fears that continued disregard for the COVID-19 protocols may prolong economic recovery, as government mulls actions to contain the pandemic. According to the LCCI, disregard for protocols may accelerate the spike in the spread of the pandemic, which may prompt corresponding containment measures that would adversely affect the business environment and the economy at large. Already, many businesses are presently in dire financial straits as they battle with escalating costs, high receivables, loss of credit lines and other contractual obligations amid revenue shocks. With new containment efforts that may include the imposition of another loc...