By Ambrose Nnaji
The Nigerian- American Chamber of Commerce (NACC) has said it would intensify efforts to ensure the Small and Medium Enterprises (SMEs) benefit from the African Growth and Opportunity Act (AGOA) before the end of 2025.
The National President, Toyin Akomolafe, stated this during a briefing on the 60th-anniversary celebration of the Chamber in Lagos.
The African Growth and Opportunity Act, he said, was a piece of legislation approved by the U.S. Congress in 2000.
According to him, the purpose of the legislation was to assist the economies of sub-Saharan Africa, including Nigeria and to improve economic relations between the United States and the region
By providing new market opportunities, AGOA has helped strengthen economic growth, promoted economic and political reform, and improved U.S. economic relations in the region.
About 38 countries are eligible for AGOA benefits in 2020. The NACC president said in 2015, Congress passed legislation modernising and extending the program to 2025.
Akomolafe said though Nigeria, unfortunately, started slightly late, nevertheless with what’s happening and contributions from the Chamber it’s trying as much as possible to ensure a lot of its members especially the SMEs got involved
Lamenting on the gridlock at the ports, he said it takes several weeks to get across the traffic and other visible items that were inhibiting export process.
He said some were being flown by air cargo, adding the Chamber would want its members to get the dividends of being members of the NACC.
He said more than 60 years on, the NACC had grown into a dynamic organisation standing as a pillar of the relationship between the United States of America and Nigeria, serving as an important catalyst in bringing together people and ideas to bolster bilateral commercial relations between Nigeria and the United States.
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He said close to 1000 members spanning different sectors of the economy had registered with the Chamber since inception and had also registered 8 chapters of the Chamber across Nigeria with two in the United States (Atlanta & Houston).
This, he said, had enabled the Chamber to realise its lofty aims and objectives which include the fostering of trade and commerce investment between Nigeria and the USA and liaising with the Nigerian Government and its agencies throughout the country on trade and industry-related matters.
“We create value for our members continuously and facilitate business-to-business relationships. The services we offer to our members include the organization of trade missions into the two countries, sponsorship of training, conferences and seminars addressed by leading authorities in different fields, affording members and non-members a platform for the discussion of topical issues affecting the economy in general,” he said.
The anniversary with the theme: “Celebrating 60 years of Partnership and Prosperity” Akomolafe said would highlight its contributions to bilateral trade and cultural relations between Nigeria and the United States over the last six decades.
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