NACCIMA ‘ll continue to partner FG on business growth, says new President
The newly-elected National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ide John Udeagbala, has said the chamber will continue to partner with the Federal Government in ensuring business growth in the country.
He said this at the 61st Annual General Meeting of the chamber and his investiture as the new president.
He noted that NACCIMA had influenced several government policies that have translated into tangible benefits for businesses leading to the growth of the economy.
Udeagbala added 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.
He said, “NACCIMA, in collaboration with other members of the Organised Private Sector of Nigeria, has been consistently at the forefront of advocacy for policies that promote operations of the private sector.
“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 the growth of the national economy.
“Indeed, NACCIMA is truly an invaluable partner to government and other stakeholders in the Nigerian business environment.”
While he recalled that the Nigerian economy slipped into recession in the past year, with inflation peaking at 18 per cent as at the end of May 2021, he, however, expressed the hope that Nigeria was gradually on its way to recovery, given the report by the National Bureau of Statistics.
He said, “It is worthy to note that NACCIMA, through its advocacy, contributed to the recovery efforts by providing the government with strategic policy options as the country searched for suggestions, on how to exit the recession.
“The task now is to sustain and increase the momentum of our economic recovery. Let us, as stakeholders, work towards that goal.”
Udeagbala decried the adverse effect of the raging insecurity in the country on business and called on the government to tackle it.
He said, “The current security challenges in Nigeria with its threat to lives and property have had far-reaching consequences on the investment climate and costs of doing business.
“Security is an intrinsic aspect and precondition for development and sustainability of the economy. Unfortunately, we continue to witness widespread criminality, including kidnapping, banditry and destruction of public properties, businesses and social institutions.
“We also have the farmer-herder clashes and cattle rustling to contend with. Our nation must not continue like this.
“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.”
He commended her predecessor, Hajiya Saratu Iya Aliyu for her significant contributions and inspirational leadership, which were manifest during her tenure.
Below is the full text of the inaugural speech
INAUGURAL SPEECH BY THE NATIONAL PRESIDENT OF NACCIMA, IDE JOHN C. UDEAGBALA, AT THE 61ST ANNUAL GENERAL MEETING/INVESTITURE
ON 30TH JUNE, 2021
PROTOCOL
INTRODUCTION
It is with great humility and a high sense of service that I address the leadership and members of the Chamber Movement, and other stakeholders, as the 21st President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA). This event, which culminates in the transition from one President to another, is particularly significant as it has come close 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. At that event, we honoured our deserving past leaders and other distinguished personalities who have distinguished themselves in their chosen fields, and contributed significantly in various areas of our national life and at the international level.
I express my deep appreciation and admiration to my predecessor in office, Hajiya Saratu Iya Aliyu. An experienced businesswoman and veteran of the chamber movement in Nigeria, her significant contributions and inspirational leadership, which were manifest during her tenure, were indeed remarkable, and have been acknowledged far and wide. She stands tall as a woman of substance. I sincerely thank her for her contributions and the continuation of the excellent tradition of past NACCIMA leaders. Special appreciation also goes to my 1st Deputy President, Otunba Dele Kelvin Oye, for the prominent role he has played in NACCIMA, especially in the past two administrations.
NACCIMA’s TRACK RECORD
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. NACCIMA, in collaboration with other members of the Organised Private Sector of Nigeria, has been consistently at the forefront of advocacy for policies that promote operations of the private sector. 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 the growth of the national economy. Indeed, NACCIMA is truly an invaluable partner to the government and other stakeholders in the Nigerian business environment.
NACCIMA, with its membership base, is a leading light of seasoned business personalities across various sectors of the Nigerian economy. Our Association has provided a platform for the articulation of business ideas, the conceptualization of policies, training, and the implementation of plans in line with international best practices. This we will continue to do, to remain the premier national chamber.
THE RECENT RECESSION AND RECOVERY
It will be recalled that the Nigerian economy slipped into recession in the past year. Inflation as at the end of May was around the 18% mark. Thankfully, 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. It is worthy to note that NACCIMA, through its advocacy, contributed to the recovery efforts by providing the government with strategic policy options as the country searched for suggestions, on how to exit the recession. The task now is to sustain and increase the momentum of our economic recovery. Let us, as stakeholders, work towards that goal.
THE COVID-19 PANDEMIC
The outbreak of the COVID-19 pandemic early in 2020 came with considerable challenges to lives and livelihoods, which made businesses struggle to survive. From the loss of market share to restrictions on travel for trade and business transactions, the pandemic compelled the world to urgently adopt new ways of transacting business using technology. I am delighted that the Chamber movement was able to quickly adapt through the use of technology to scale over the obstacles occasioned by the pandemic.
But let us remember that we are not completely out of the woods. There is, however, hope in the horizon of an end to the pandemic, especially with the discovery of vaccines and mass vaccination programmes. As the challenges of the COVID-19 pandemic evolve, the Chamber movement has an opportunity to further serve and help reposition the conduct of business transactions in the community in our quest for economic recovery.
I commend the Nigerian Government for its support to businesses right from the onset of the pandemic. The various stimulus packages, to some extent, helped to cushion the negative impact of the pandemic on households and businesses. The Economic Sustainability Recovery Plan has also been of help as we have seen signs of economic recovery. But we still need to do more to move forward as a nation. The Chambers movement must be given more opportunities and visible roles in achieving this objective. This is because we provide a National platform through which businesses across the country can be reached to make these stimulus packages and other support programmes impactful. Chambers of Commerce across the world, through their members, can be regarded to be the real creator of national wealth. They give practical meaning to the concept of SHARED PROSPERITY across national levels and up to the grassroots level where poverty is widespread and endemic. In this respect, I commend the Nigerian government for its immense support to the business sector through its various sectoral interventions. We will continue to be a veritable partner in this regard.
THE CHALLENGE OF INSECURITY
Parallel to the outbreak of the COVID-19 pandemic in our country is the growing state of insecurity. The current security challenges in Nigeria with its threat to lives and property have had far-reaching consequences on the investment climate and costs of doing business. Security is an intrinsic aspect and precondition for the development and sustainability of the economy. Unfortunately, we continue to witness widespread criminality, including kidnapping, banditry and destruction of public properties, businesses and social institutions. We also have the farmer-herder clashes and cattle rustling to contend with. Our nation must not continue like this.
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 environments. 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.
THE AFCFTA
As you all are aware, the implementation of the African Continental Free Trade Area (AfCFTA) Agreement commenced in January 2021. This is the realization of a dream conceived in 1963 during the establishment of the Organization of African Unity (OAU), now African Union (AU). 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). This is a giant leap towards increasing intra-African trade and creating collective wealth. It is also a bold step to take Africans out of poverty. This is why we have focused on it at this Conference. 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.
SUSTAINING THE LEGACY
Within the tenure of this administration, I plan to follow through with the brilliant records of my predecessors in office. My Presidency is committed 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.
As the voice of Nigerian Business, NACCIMA will deepen its engagement with the government, the Organised Private Sector of Nigeria and other stakeholders through advocacy and various platforms that will further strengthen our capacity to influence policies and decisions in favour of business.
THE NACCIMA TOWERS ABUJA
For some time now, we have struggled with our building project in Abuja. Completion of the project, the NACCIMA Towers in Abuja will be one of the priorities of my administration. This is because NACCIMA must have a befitting and visible presence in Nigeria’s capital.
HARNESSING TECHNOLOGY AND DIGITAL ECOSYSTEM
The Fourth Industrial Revolution driven fully by technology is here with us. We will integrate technology fully into the activities of the Chamber and also encourage our members to scale up the use of technology and the digitalization process. This is to reposition them for the new Digital Business ecosystem rapidly unfolding before us.
IT Entrepreneurs, Ezra Olubi and Shola Akinlade, Co-Founder and CEO of Paystack started a FinTech Company that rose to national and international acclaim. The success story of Paystack and Flutterwave, among others, demonstrate the immense possibilities of technology as a tool to promote and expand the business and economic opportunities. My view is that we should now fully incorporate technology and its possibilities as a strategic plan and area of focus.
We all know that the world is evolving and it is important that we keep up with evolutionary trends even while maintaining our core values.
As you know, technology has in recent decades, become the major driver of business across various sectors. It is a multi-billion dollar sector that has created massive opportunities that were not in existence at the formation of NACCIMA and affiliate Chambers. Consequently, as part of the goals during my tenure, we shall establish Technology Co-Creation Centres (TCCs) in our 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.
NACCIMA YOUTH ENTREPRENEURS
Our Youth are our future. Consequently, NACCIMA Youth Entrepreneurs will be actively supported to encourage young people participate in the chamber movement. This we shall do through periodic orientation, mentoring, networking sessions, and linkages.
NAWORG
Our Women’s Wing, NAWORG, has been making steady progress since its establishment in 2005. Two female members of our Association have in fact served as National Presidents in succession. This is a reflection of our commitment to gender equality and advancement. We will therefore continue to work for the advancement of women and gender equality with NAWORG.
THE ADR, SKILLS AND BEST CENTRE
Alternative Dispute Resolution and Business Skills Development have become an important strategies to resolve trade disputes and impact business and entrepreneurship skills. Consequently, we will pay attention to these areas and it is in this connection that consultations 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.
I am glad that my 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). We will follow up accordingly on the other centres.
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.
I believe that the four centres of the Abuja Chamber of Commerce and Industry (ACCI) identified above, when fully adopted will upscale the activities of NACCIMA. They will also provide the much-needed support to the Organised Private Sector and the business community as a whole. I acknowledge 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. It is also worthy to take note of ACCI’s constant support to NACCIMA for which I express appreciation to its immediate Past and present Presidents, the Executive Council as well as Management and Staff of the Chamber.
APPRECIATING THE SECRETARIAT AND PRESIDENTS OF CHAMBERS AND OTHERS
I applaud NACCIMA’s leadership, Presidents of Chambers and Associations, our Directors-General, the NACCIMA Secretariat, and members for their unwavering support and contribution in the past 60 years. As we commence this new journey, I reiterate that our success will depend on our total commitment to our goals, cooperation and solidarity among us. I, therefore, seek your support for this new leadership.
GOVERNMENT AND INTERNATIONAL COMMUNITY
To the Government, the Diplomatic and International Community, and other stakeholders, the new leadership of NACCIMA seeks your continued cooperation and support.
The Ministry of Industry, Trade and Investment has been our great ally and will continue to be. We thank the Honourable Minister of Industry, Trade and Investment and the Honourable Minister of Foreign Affairs for their support to NACCIMA.
My 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.
NACCIMA presents the most powerful platform to channel government interventions to businesses. As a well-organized movement of business people with established structures in the 36 States of the Federation and the Federal Capital Territory, we are the best route for government to channel its support and interventions for businesses. We will, therefore, remain focused on our goal of being the Voice of the Nigerian Business.
CLOSER TIES WITH OTHER MEMBERS OF THE ORGANISED PRIVATE SECTOR OF NIGERIA
During my tenure, we 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.
CLOSER COLLABORATION WITH THE NATIONAL ASSEMBLY
My administration will initiate a paradigm shift in our interface with the National Assembly by creating a liaison presence at the National Assembly. This is to enable us to monitor and provide informed inputs into bills that will have a positive impact on businesses and the private sector in Nigeria.
CLOSING THOUGHTS
Today is a great day for me, for my family: both personal and corporate, and for NACCIMA. I pledge to perform my functions with candour and diligence.
I will be fair to all our members in the course of the discharge of the functions of my office. I will also work assiduously and in close cooperation with my colleagues in the Organised Private Sector for the progress of the sector and the general good of our dear country.
Thank you and God bless you all.
IDE JOHN C. UDEAGBALA,
National President, NACCIMA
