NACCIMA President, Udeagbala pledges to sustain advocacy for growth, development of businesses in Nigeria

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) inaugurated Ide John C. Udeagbala as its new National President having taken over the mettle of leadership from his predecessor Hajiya Saratu Iya Aliyu at the 61st Annual General Meeting/Investiture on 30th June 2021 in Aba. The new president thereafter set go-getting agenda on how to move the Association forward and for the growth of the nation’s economy, the Editor, Gentechnews, Tony Nwakaegho writes.

 

The city of Aba was agog as the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the national umbrella body for all the city/state and Bilateral Chambers of Commerce in the Federal Republic of Nigeria inaugurated Ide John C. Udeagbala, an industrialist, corporate player, economic nationalist as the 21st National President on 30th June 2021. The event was particularly significant as it came on the heels of the double celebrations of the 60th Anniversary of NACCIMA, and the NACCIMA@60 Awards held about a month ago in the Federal Capital Territory, Abuja.

In his inaugural address, National President, Ide John C. Udeagbala, chronicled how his executive will steer the ship of NACCIMA, which is revered as the pillar of business that supports the growth and development of private enterprise initiative in Nigeria.

National President, Ide John C. Udeagbala eulogized his predecessor in office, Hajiya Saratu Iya Aliyu, an experienced businesswoman and veteran of the chamber movement in Nigeria for her significant contributions and inspirational leadership as well as his 1st Deputy President, Otunba Dele Kelvin Oye, for the prominent role he played in NACCIMA, especially in the past two administrations.

Ide Udeagbala highlighted that from its inception and records of contributions as the Premier National Chambers of Commerce, NACCIMA has truly proved to be the voice of Nigerian Business, for over 60 years, working at the fore-front of advocacy for policies that promote operations of the private sector in collaboration with other members of the Organised Private Sector of Nigeria.

“Our Association has supported Trade Promotion through various means and facilitated the establishment of business while serving as the pathway for multinationals keen on working with Nigerian businesses. NACCIMA has also influenced several government policies that have translated into tangible benefits for businesses, leading to growth of the national economy. Indeed, NACCIMA is truly an invaluable partner to government and other stakeholders in the Nigerian business environment,” he said.

Ide Udeagbala promised that the Association will continue to remain the premier national chamber by providing the platform for the articulation of business ideas, conceptualization of policies, training, and the implementation of plans in line with international best practices.

He recalled that the Nigerian economy slipped into recession in the past year, while inflation as at the end of May was around the 18 percent mark.

NACCIMA President disclosed that NACCIMA, through its advocacy, contributed to the recovery efforts by providing government with strategic policy options as the country searched for suggestions on how to exit the recession.

He stressed that from the reports of the National Bureau of Statistics, Nigeria is on the path of recovery and might post a positive economic growth rate by the end of 2021.

“The task now is to sustain and increase the momentum of our economic recovery. Let us, as stakeholders, work towards that goal,” he advised.

He applauded the Chamber movement that despite loss of market share, restrictions on travel for trade and business transactions they were able to quickly adapt through use of technology to scale over the obstacles occasioned by the pandemic.

He counseled that the country is not out of the wood yet, adding that the Chamber movement has an opportunity to further serve and help reposition the conduct of business transactions in the community in the quest for economic recovery.

Speaking on the Economic Sustainability Recovery Plan, he commended Nigerian Government for its support to businesses right from the onset of the pandemic, various stimulus packages and various sectoral interventions, adding that the Chambers movement must be given more opportunities and visible roles in using the National platform through which businesses across the country can be reached to make these stimulus packages and other support programmes impactful.

Ide Udeagbala lamented the spate of insecurity, widespread criminality, kidnapping, banditry and destruction of public properties, businesses and social institutions, which he said had far-reaching consequences on the investment climate and costs of doing business, adding that the nation, must not continue like this.

In his words: “Our people are suffering, farmers cannot go to their farms or harvest their produce, and those with businesses are finding it difficult to run their businesses and cannot plan for the future. Prospective foreign investors and financiers are taking their resources elsewhere.

“As a nation we must act fast to end insecurity and ensure a safe environment for lives and businesses to thrive. This is because businesses thrive only in safe and secured environment. On our part we will continue to lend our voice to the call for the government to tackle security challenges and return the country to a peaceful and secured state.”

He pointed out that implementation of the African Continental Free Trade Area (AfCFTA) Agreement which commenced in January 2021 is the realization of a dream conceived in 1963 during the establishment of Organization of African Unity (OAU), now African Union, noting that this giant step by Africa is expected to lead to the creation of the largest trading Area of 55 countries, unites over 1.5 billion people with a prospective GDP of about $3trillion (Three Trillion United States Dollars).

According to him, “We are delighted at the work of the National Action Committee on the AfCFTA since its establishment and have been part of its sensitization activities through the NACCIMA Committee on the AfCFTA. We will continue to advocate for the full implementation of this agreement and ensure that Nigerian businesses harness its full benefits. This will certainly be an important strategy in our quest to ensure Nigeria’s economic influence on the continent; taking note that Nigerian businesses are already strongly rooted in many African countries.”

The NACCIMA boss pledged to follow through with the brilliant records of his predecessors in office to sustaining NACCIMA’s legacy and providing creative ways to support the business community and facilitate real-time measures and innovations in favour of businesses.

Speaking on building project in Abuja, the president stated that for some time now, the Chamber has struggled with the building project, adding that completion of the NACCIMA Towers in Abuja will be one of the priorities of his administration so the Chamber will have befitting and visible presence in Nigeria’s capital.

He announced that the Chamber cannot be left out of the Fourth Industrial Revolution driven fully by technology which is a multi-billion dollar sector; consequently, he said that as part of the goals during his tenure, they will establish Technology Co-Creation Centres (TCCs) in the Geo-Business Zones.

“They will largely be driven by our young entrepreneurs who we are focused on bringing fully into the Chambers. I believe it is imperative that we embrace this new paradigm and accord it the recognition it deserves. I will shortly be setting up a Committee to review this proposal and recommend to the Chamber the best modality for the actualization and functionality of this new initiative,” he added.

He cited how IT Entrepreneurs, Ezra Olubi and Shola Akinlade, Co-Founder and CEO of Paystack started a FinTech Company that rose to national and international acclaim, stressing that the success story of Paystack and Flutterwave, among others, demonstrate the immense possibilities of technology as a tool to promote and expand business and economic opportunities.

He affirmed that NACCIMA Youth Entrepreneurs will be actively supported to encourage young people participate in the chamber movement through periodic orientation, mentoring, networking sessions, and linkages.

Speaking on the Women’s Wing, NAWORG, he said it has been making steady progress since its establishment in 2005 as two female members of the Association have served as National Presidents in succession.

According to him, this is a reflection of the Association’s commitment to gender equality and advancement which will be sustained.

He announced that the Alternative Dispute Resolution (ADR) and Business Skills Development have become an important strategy to resolve trade dispute and impact business and entrepreneurship skills, adding that consultations has started for an MoU with the Abuja Chambers.

“The goal is to adopt the four centres of Abuja Chamber of Commerce and Industry, namely: The Policy Advocacy Centre (PAC), Dispute Resolution Centre (DRC), Business Entrepreneurship Skills and Technology Centre (BEST), and the Abuja Trade Centre (ATC) as NACCIMA’s. These centres already have a track record of successful delivery of their various mandates, with international recognition,” he stressed.

He disclosed the his predecessor, Hajiya Saratu Iya Aliyu, has taken the first step when she recently signed the MoU, for the ACCI Dispute Resolution Centre to now be operated as the Nigerian Chamber of Commerce Dispute Resolution Centre (NCCDRC) and promised to follow up accordingly on the other centres.

He emphasized that these four centres when fully adopted will give NACCIMA the opportunity to deliver on its strategic role of addressing the current realities and challenges to business in Nigeria, Africa and the world at large.

“This is because issues of capacity building, skills acquisition, policy advocacy and alternative dispute resolution mechanisms are all essential for the growth and development of business at the national and international levels,” he said.

Consequently, he said, that the four centres of the Abuja Chamber of Commerce and Industry (ACCI), when fully adopted will upscale the activities of NACCIMA, provide the much needed support to the Organised Private Sector and the business community as a whole.

He acknowledged the outstanding efforts of the Abuja Chamber of Commerce and Industry in promoting the Chamber movement and lifting the reputation of Chambers of Commerce in Nigeria and West Africa.

He commended the NACCIMA’s leadership, Presidents of Chambers and Associations, Directors-General, the NACCIMA Secretariat, and members for their unwavering support and contribution in the past 60 years.

Ide Udeagbala solicited for the continued cooperation and support from Government, Diplomatic and International Community and stakeholders for the new leadership of NACCIMA.

He also applauded the Ministry of Industry, Trade and Investment for being their great ally and thanked the Honourable Minister of Industry, Trade and Investment and the Honourable Minister of Foreign Affairs for their support to NACCIMA.

He declared that his administration looks forward to strengthening the bonds of partnership with various groups and harnessing opportunities in the areas of Business to Business (B2B), Business to Government (B2G), Government to Government (G2G), among others.

He averred that NACCIMA remain focused on its goal of being the Voice of the Nigerian Business as a well-organized movement of business people with established structures in the 36 States of the Federation and the Federal Capital Territory as well as the best route for government to channel its support and interventions for businesses.

He reiterated that he will continue to work closely with other members of the Organised Private Sector of Nigeria (OPSN) namely: the Manufacturers Association of Nigeria (MAN), the Nigerian Employers’ Consultative Association (NECA), the Nigerian Association of Small and Medium Enterprises (NASME), and the Nigerian Association of Small Scale Industrialists (NASSI) in order to ensure that the Private Sector speaks with one voice and is focused on the sustenance of economic growth and development in our country.

On the part of the National Assembly, the president said, that his administration will initiate a paradigm shift in their interface with the National Assembly by creating a liaison presence at the National Assembly to enable the Chamber monitor and provide informed inputs into bills that will have positive impact on businesses and the private sector in Nigeria.

He pledged to perform his functions with candour, diligence, fairness to all members in the course of the discharge of the functions of his office as well as work assiduously in close cooperation with his colleagues in the Organised Private Sector for the progress of the sector and the general good of the country.