Forex, Infrastructure Hindering Readiness for Continental Trade – NACCIMA

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The Nigerian Chamber of Commerce, Industry, Mines and Agriculture says access to forex, irregular electricity supply and poor infrastructure are issues affecting the readiness of Nigeria for the African Continental Free Trade Agreement.

The National Vice President of NACCIMA, Jamiu Ibrahim, who spoke in Lagos at a press conference to announce the 60th anniversary of the chamber, said despite the challenges, NACCIMA was working hard to ensure Nigeria tapped into the opportunities.

He added that the chamber had presented the challenges that would hinder the organised private sector from taking advantage of the free trade opportunity to the government.

According to Ibrahim, the Export Expansion Grant is an important incentive for exporters.

He said it would make them more competitive on the continent.

“In terms of language, we need to be bilingual in order to communicate well with other countries. NACCIMA is creating a platform for market access. This is gaining a lot of ground and we are extending it to other countries,” he added.

Also, the second National Vice President, NACCIMA, Otunba Dele Oye, said in order for Nigeria to derive optimum benefits from the free trade opportunity, local manufacturing needed to be improved.

“The more production we have, the more employment will be created. We project Made-In-Nigeria goods at every opportunity,” he said

Highlighting the achievements of the chamber, the President, NACCIMA, Hajiya Saratu Aliyu, said NACCIMA in the past played major roles in the policy decisions.

She said, “We were part of major historic decisions such as the enactment of the Nigerian Enterprises Promotion Decree of 1972 also commonly referred to as the indigenisation Decree which was subsequently amended in 1977.

“We were also part of the creation of ECOWAS in 1975 and the establishment in 1976 of the Federation of West African Chamber of Commerce and Industry.”

– Punch

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