 The Lagos Chambers of Commerce industry has organized its annual media economic review and outlook event designed to review key policy developments and macroeconomic performance in the first half of the year. The president of the institution, represented by the deputy president, Mr Gabriel Ida Hoso said our CCI will continue to engage the government to ensure that Nigeria's economy improves. The guest speaker, Dr Ayo Teriba and the panelist, explained that the oil industry has been monopolized by the major players. The CCI over the last 135 years has consistently engaged government and advanced the growth of the private sector and the overall Nigeria economy through regular reviews of the business and economic climate by policy advocacy. The Nigeria economy in the first half of this year has been quite challenging. The first quarter GDP slowed to 2.3%, largely driven by growth in the oil sector, while the oil sector remained in recession. The country has also witnessed significant decline in foreign direct investment, coupled with high level of public depth stock and concerns for depths of sustainability, high unemployment and poverty levels. Today, LCCI have gathered a team of experts to extensively discuss these economic issues and implications for business and households and its impact on the country's outlook. Global economy still remains very fragile, despite the fact that we have recovered from COVID-19 pandemic. The effects of Russian war in Ukraine is already being dealt with. But then we are, even in the West, we are having easing inflationary pressure monetary policy to, I mean, they are signaling that they must start to moderate in the next coming months. And then the banking sector seems to be improving when they are out. In the regime in which subsidy is festered and in which what is co-extended is festered, you had monopolies or oligopolies. You had a major supplier or you had a few suppliers who had market pass and exploited to for the successful reform of the downstream sector you needed to break monopoly pass. Dr. Deriber, who further spoke alongside other panelists who expressed their disappointment in the lack of government communication, where the citizens said the government should onboard the NMPCL stressing that the central bank of Nigeria also needs to be reorganized. When you have a country that's in the stampede, what was missing in the last two months is not, there were two things. They were not supported by institutional reforms that drops with a, but those institutionally from nobody actually expected them to happen immediately. But there was no communication about them. So what I'm trying to say is that you did two important reforms, right? But for head weeks, there was no communication. It's not only the NMPC that needs to be reorganized. Central Bank of Nigeria should be reorganized. And we should follow the example of the labor government when they took over in England in 1997. They reconstituted the fragmented, the functions of the Bank of England. They withdrew banking supervision from them. You can't just say, you know, remove or suspend the governor and leave all his co-travelers of nine years and expect to get a better outcome. My suggestion is that you shouldn't bundle NMPC. You should separate the upstream exploration and production operations from the midstream, the binary operation. I don't even think that the binaries have a board of their own and also separate the downstream operations, make them, put them under the oversight of functionally separate entities. Even if NMPC remains with them, let them have their own boards, let them be accountable.