Tag: NACCIMA

National Chamber of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the German Agency for International Cooperation (GIZ) have partnered to strengthen regional integration, facilitate cross-border agricultural trade, and expand opportunities for Micro, Small and Medium Enterprises (MSMEs).

The partnership was announced in Lagos, over the weekend, during the launch of NACCIMA’s activities under the ‘ECOWAS Agricultural Trade (EAT) Project,with the theme: “Strengthening ECOWAs Agricultural Market to Drive Food Security and Regional Prosperity.”

Speaking at the event, NACCIMA President, Engr. Jani Ibrahim, said agriculture continues to play a critical role in Nigeria’s economy, noting that in Q4 2024, the sector contributed about 24.64 per cent to the nation’s Gross Domestic Product (GDP).

He, however, said with the recent GDP rebasing, the share of agriculture in national output has risen, with early 2025 estimates showing about 27.8 per cent rise.  He, however said despite its huge role in the economy, Nigeria’s agricultural exports remain modest.

The NACCIMA chief said it is against this backdrop that the EAT Project and NACCIMA’s role take on special relevance. He said for NACCIMA, this initiative aligns perfectly with the association’s mandate to empower the private sector, promote enabling policies, and strengthen export competitiveness.

He explained: “Through this project, we intend to address longstanding bottlenecks that hinder trade through the capacity building of traders and SMEs within the agribusiness value chain, enabling them to meet requirements for regional markets.

 “By unlocking the potential of regional agricultural trade, we are not just moving goods; we are unlocking livelihoods, creating value, deepening regional economic integration, and contributing to food security for millions across West Africa.

 “The opportunities are enormous, with Nigeria’s burgeoning population and rising urban demand, ECOWAS’s vast markets, and the dynamism of our private sector.

 “But we must also recognise the challenges: infrastructure gaps, limited access to finance, weak value-chain linkages, and non-tariff barriers. This is why a coordinated effort under the EAT Project, with NACCIMA as a central private-sector anchor, is so critical.”

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The NACCIMA boss applauded GIZ and ECOWAS, its development partners, for entrusting NACCIMA with the responsibility.

He noted that the partnership promises stronger agricultural value chains, better market access, enhanced trade in food and agro-products, and a more vibrant role for the private sector in shaping regional trade in West Africa.

NACCIMA Director General Sola Obadimu emphasized that agriculture remains a major pillar of Nigeria’s economy, contributing about one-quarter of its GDP and supporting millions of livelihoods.

He, however, expressed regrets that despite its vast potential, the nation’s agricultural export earnings remain below expectation, even as the wider ECOWAS region with a population of over 400 million people continues to offer huge untapped market opportunities.

The DG pointed out that the EAT Project is therefore timely, as it strengthens the collective effort to boost intra-regional agricultural trade, improve standards, remove non-tariff barriers, and support SMEs to participate more competitively in regional value chains.

Obadimu said: “For NACCIMA, this intervention aligns strongly with our mandate to promote trade, support private-sector competitiveness, and deepen regional integration.

 “Under this project, NACCIMA will lead a series of activities focused on capacity building and improving access to market information.

 “Our aim is simple: to ensure that Nigerian agribusinesses are better positioned to take advantage of opportunities within the ECOWAS market and contribute meaningfully to national and regional growth.”

Program Lead, GIZ- EAT, Arne Schuffenhauver, said the programme is funded by the German government, implemented in partnership with the ECOWAS Commission, and with many other partners in five countries of which Nigeria is one of them.

Schuffenhauver said ECOWAS trade is one of the biggest markets for food products in West Africa. He noted that the GIZ partnered NACCIMA because the Association gives services to members and non-members on how to better access markets, trade, go through inspections and customs in an efficient way.

The Program Lead for GIZ- EAT, while noting that NACCIMA is a strategic partner, said EAT project is important to really accelerate trade in food products.

He listed some of the benefits of the project to include enhanced knowledge, access to information, access to markets, to promote businesses of SMEs and those of youth and women.

Schuffenhauver said cross-border food trade is a big business valued at $10 billion, meaning there are a lot of opportunities though still laced with challenges for small and medium traders to invest, have access to finance, and to cross the borders without any obstacles.

He, however, said the project will support in the areas of small infrastructure, cool stores, solar-powered cool stores, including very simple things like transporting a product from a market to the next destination across the border with tricycles.

Principal Trade Promotion Officer, Nigerian Export Promotion Council (NEPC), Nancy Okpa, noted that the launch marks a significant milestone in regional economic cooperation by creating a structural platform for producers, processors, exporters, policy makers and development partners.

 “This initiative advances a shared vision of an integrated West African market where agricultural value chains thrive. Through this collaboration, barriers to trade are reduced, opportunities for inclusive growth are expanded,” she said.

Okpa noted that the framework for agricultural trade facilitation lies strongly with the Council’s mandate to support exporters, improve competitiveness and help Nigerian producers meet regional and global demands.

 “We particularly commend NACCIMA and GIZ for their commitment to empowering agricultural businesses and strengthening the capacities of all stakeholders. This initiative comes at a crucial time when strategic patterns are needed to unlock the immense potential of the West African agricultural sector,” she stated.

Nigeria’s election into the International Maritime Organisation (IMO) Council, Category C, marks a significant milestone for the nation and reaffirms her growing leadership within the sub-Saharan Africa and the global maritime community.

The National President of NACCIMA, Alhaji Jani Ibrahim, who in his reaction, congratulated the Minister of Marine and Blue Economy, Adegboyega Oyetola, whose visionary leadership, strategic reforms and sustained international engagement, he said, played a pivotal role in securing this national success.

The NACCIMA President, in a statement, said under Oyetola’s leadership, Nigeria’s maritime administration has gained renewed global credibility and strengthened its position as a major voice in African and international shipping.

NACCIMA also congratulated President Bola Ahmed Tinubu, whose administration’s renewed hope Agenda continues to support and champion the growth of the blue economy, maritime and security by strengthening the institutional framework across the nation’s maritime sector.

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“Nigeria’s election reflects the collective efforts of the Federal Government, the Minister, industry regulators, and maritime stakeholders who are committed to elevating Nigeria’s maritime profile.

“This victory underscores the nation’s commitment to global maritime safety, environmental stewardship, capacity building and sustainable blue economy growth,” Ibrahim stated.

He pledged that NACCIMA will continue to work in synergy with the Minister, the maritime parastatals and industry stakeholders to ensure that Nigeria sustains this achievement and continues to maintain its pride of place in the comity of maritime nations.

A more robust and mutually rewarding business and trade relations between Nigeria and China may have emerged, drawing strength from the renewed advocacy by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to deepen bilateral relations between both countries.

The Public Relations Officer (PRO) of NACCIMA, Hajia Medinat Oladotun, seized the platform of the China Global Television Network (CGTN)—the country’s national television— to present the Chamber’s vision for deeper economic collaboration, innovation exchange, and mutual growth between the two countries.

Her appearance on Chinese TV was part of Nigeria’s participation and activities at the just-concluded 138th Canton Fair, China’s largest and longest-running trade exhibition which took place between October 15 and November 4, 2025, in Guangzhou, China.

Hajia Oladotun spotlighted the Chamber’s role in strengthening the investment climate in Nigeria and unlocking new frontiers for trade, digital innovation, and industrial collaboration.

She also expressed Nigeria’s readiness to explore technological collaborations, e-commerce development, and smart industrial solutions with China.

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She identified opportunities for Nigerian enterprises in exports, logistics, and cross-sector investment, aligning with NACCIMA’s mission to connect Nigerian businesses to global markets.

Hajia Oladotun highlighted the strong foundation of Nigeria–China cooperation in infrastructure and industrialisation, expressing optimism for the next phase of partnership centered on green growth, manufacturing, and supply chain integration.

The feature on CGTN underscores NACCIMA’s growing international influence and celebrates its strategic communication, global engagement, and media diplomacy efforts.

Through these efforts, which have received international recognition, NACCIMA continues to promote Nigeria’s economic interests and trade competitiveness on the world stage.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has congratulated the Federal Government, the Ministry of Industry, Trade and Investment, and indeed the entire nation, on the announcement by the African Export-Import Bank (Afrexim Bank) granting Nigeria the hosting rights for the Intra-African Trade Fair (IATF) 2027 in Lagos.

NACCIMA described Nigeria’s hosting rights for IATF 2027 as “a landmark development,” noting that “It is both a national honour and a continental responsibility, reaffirming Nigeria’s leadership role in advancing the objectives of the African Continental Free Trade Area (AfCFTA) and promoting sustainable economic growth across Africa.”

The Association, in a statement signed by its National President, Engr. (Dr.) Jani Ibrahim, and made available to The Nation, over the weekend, said the hosting of IATF 2027 in Lagos will create an unparalleled platform for Nigerian businesses particularly Micro, Small and Medium Enterprises (MSMEs) showcase their products, services, and innovations to African and global markets.

Ibrahim also said it will provide unique opportunities for investors, both domestic and international, to explore the vast potential of Nigeria’s economy across key sectors such as agriculture, manufacturing, technology, creative industries, logistics, and financial services.

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According to him, “NACCIMA recognises the immense benefits that this prestigious event will bring, including strengthened visibility and competitiveness of Nigerian enterprises in the African market, expanded access to trade finance, investment capital, and cross-border partnerships for MSMEs, and job creation and value-chain development across priority sectors of the economy.”

He further stated that the development will enhance the positioning of Lagos as a gateway city for trade, investment, and innovation in Africa.

The National President affirmed that as the umbrella body of the Organised Private Sector in Nigeria (OPSN), NACCIMA is committed to mobilizing its extensive network of Chambers of Commerce and strategic partners to ensure active private sector participation and to maximize the accruable benefits of IATF 2027 for Nigerian businesses.

The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye, has wooed global investors to explore the vast opportunities in Nigeria’s dynamic yet volatile economy.

Oye is in Giessen, Germany, where he delivered the keynote at the third International B2B Conference organised by the German Chamber of Commerce and Industry (DIHK).

With the theme: “The World Meets in Giessen,” the conference, holding from May 20–22, 2025, brings together global business leaders, trade experts, and policymakers to foster cross-continental collaboration and unlock new areas of economic growth.

Oye, who also serves as the Chairman of the Organised Private Sector in Nigeria (OPSN), is using the platform to advocate for increased foreign direct investment in Nigeria, citing untapped potential in areas such as agriculture, renewable energy, technology, real estate, and manufacturing.

The conference serves as a vital platform for Nigerian businesses to connect with their international counterparts, explore global business opportunities, and forge mutually beneficial partnerships.

The NACCIMA president highlighted these opportunities more extensively during his keynote address later at the conference, spotlighting Nigeria’s strategic advantages, its vast consumer market, youthful population, and role as a regional trade leader under the African Continental Free Trade Area (AfCFTA).

Oye will also participate in a high-level panel discussion titled “Key Emerging Branches in African States,” alongside other experts, global business leaders, diplomats, and policy influencers.

The panel aims to dissect Africa’s evolving trade landscape and explore new sectors of growth in line with global economic trends.

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Other participants at the event include former Nigerian Minister of Information and National Orientation, Lai Mohammed; Ambassador Yakubu Audu Dadu of the Nigerian Consulate; Ambassador Azize Diabate of Côte d’Ivoire; and Ambassador Stella Mokaya of Kenya.

Oye, a seasoned lawyer and entrepreneur, continues to champion Nigeria’s role as a strategic business hub in Africa, calling for enhanced bilateral trade and sustainable partnerships with the international business community.

The conference is expected to yield strategic partnerships, new trade deals, and enhanced visibility for African economies on the global stage.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has advised economic managers on ways to avert the World Bank’s projection that Nigeria’s poverty rate could soar to 56 per cent by 2027.

The groups called for urgent, decisive and coordinated action to reverse the trend.

According to the World Bank, 104 million Nigerians, about 47 per cent of the population were living below the poverty line in 2023, up from 40 per cent in 2018. The report cited sluggish economic growth, high inflation, and rising rural-urban disparities as key drivers of the trend.

Particularly affected are rural communities, where poverty levels have jumped from 67 million to 84 million people, while urban areas saw an increase from 13 million to 20 million.

The World Bank, in its latest report, predicted that poverty will continue to rise in the coming years, potentially reaching 56 per cent by 2027.

In a statement at the weekend, the NACCIMA President, Dele Kelvin Oye Esq., outlined a 13-point short-term measures to halt and reverse the projected rise in poverty.

These include targeted economic stimulus packages, greater investment in agriculture, expanded access to credit and microfinance, and supportive and predictable tax environment and robust vocational training programs for unemployed youth and women, amongst others.

On Economic Stimulus Packages, Oye who is also the Chairman of the Organized Private Sector of Nigeria stated, “The government should implement well-structured and targeted stimulus packages focused on vulnerable populations. Such measures should include cash transfers, food assistance programmes, and direct support to small and medium enterprises (SMEs) to stimulate job creation.

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“It is important to note that current support systems are often insufficient and lack proper structure, leading to instances of abuse and corruption. To address this, independent monitoring and thorough evaluation must be instituted across all processes.”

According to him, “Given that a significant proportion of Nigerians rely on agriculture for their livelihoods, there is a need for targeted investment in this sector. Subsidising inputs, providing long-term single-digit credit, and expanding training programmes can help increase food security and foster sustainable livelihoods.

“Expanding access to microfinance for small businesses, cooperatives, and entrepreneurs will promote self-employment and help reduce poverty. Facilitating favourable lending conditions specifically for women and youth is crucial, alongside the urgent development of youth-targeted capital to address the ongoing trend of the ‘Japa Syndrome.’

“Establishing robust vocational and skills training programmes for the unemployed and underemployed will enhance employability and support new entrepreneurs in high-demand sectors. The government should not only strengthen its existing partnership with the German government on vocational training but also collaborate with NACCIMA to expand vocational training opportunities nationwide.”

Oye continued: “Improving infrastructure, particularly in rural areas, will increase market access for farmers and small businesses, leading to increased incomes and, ultimately, poverty reduction.

“There is a need to introduce tax incentives for businesses investing in underserved regions and for those prioritising local employment. Recent tax policy directions, such as extending tax regimes to free trade zones and imposing punitive levies on international investors—for instance, the Federal Competition and Consumer Protection Commission’s $220 million fine on WhatsApp and META, and the Financial Reporting Council’s taxes on business turnover—risk deterring vital investment. Such measures should be carefully reviewed to promote, rather than hinder, business growth and confidence.

“Public-private partnerships should be encouraged to finance economic development initiatives, leveraging combined resources and expertise for efficient delivery of social impact. The government can further support these efforts by de-risking major barriers for business investment, such as in the solid minerals industry, making it more attractive for private capital and boosting sectoral growth.

“Expanding social safety nets, which include unemployment benefits and healthcare access, will provide much-needed relief to those facing financial distress and support their pathways to recovery.

“Targeted awareness campaigns are crucial to ensure that vulnerable populations are informed about the various government programmes and services available to assist them.

“The worsening security crisis—ranging from insurgencies to armed groups disrupting agricultural activities—remains a major driver of rural poverty and food insecurity. It is vital for government to act swiftly and decisively to restore peace and security, especially in rural communities, thereby creating a stable environment for agricultural productivity and investment.”

On adding value through internal trade/AfCFTA, the OPS Chairman said, “As stated by the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, Africa remains minimally affected by recent U.S. tariffs partly because only 6.5 per cent of its exports go to the U.S., while 4.4 per cent of imports come from there. She notes, however, that this limited trade with the U.S. is itself detrimental, stalling economic growth. 

“Africa—and Nigeria in particular—must leverage its own resources for development, especially as global aid declines. Citing Lesotho, which previously exported $200 million worth of textiles to the U.S. but now faces major challenges, Dr. Okonjo-Iweala advocates for prioritising intra-African trade.

“She highlighted that Africa spends $7 billion annually importing textiles, and suggested that countries like Lesotho shift focus to regional markets.”

Oye added, “Nigeria must maximize the opportunities presented by the African Continental Free Trade Area (AfCFTA) to boost intra-African trade, which holds immense potential for poverty reduction.”

According to him, “Nigeria should reduce its reliance on raw material exports and instead prioritise adding value through local manufacturing. AfDB President Dr. Akinwumi Adesina aptly points out that industrialising via local manufacturing is fundamental to breaking the cycle of poverty and achieving genuine development.

“While much of Africa’s raw materials are exported, less than 2% are processed locally. Nigeria must reverse this trend to build a resilient, inclusive economy.

“It is essential to establish and maintain a robust, transparent framework for monitoring and evaluating all poverty-reduction initiatives, ensuring their effectiveness and enabling real-time improvements where necessary.”

On Nigeria’s debt profile, the NACCIMA President revealed, “Nigeria’s total public debt soared to N144.67 trillion ($94.23 billion) as of December 31, 2024—an increase of 48.58% compared to N97.34 trillion ($108.23 billion) at the end of December 2023, according to the Debt Management Office.

“The report also noted a quarter-on-quarter increase from N142.32 trillion ($88.89 billion) in September 2024, underlining the growing challenge of debt sustainability.”

Oye added, “As the Honourable Minister for Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has observed, Nigeria needs a minimum annual growth rate of 7% to effectively reduce poverty.

“Government must act decisively and without delay, pursuing a multifaceted strategy that combines immediate relief measures with long-term, strategic planning.”

He charged, “By implementing these short-term interventions, we can help shield Nigeria’s vulnerable populations and make meaningful progress in the fight against poverty.”

“NACCIMA stands ready to collaborate with all stakeholders to foster sustainable economic growth and improve the livelihoods of all Nigerians,” Oye reassured.

The Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Olusola Obadimu, has called on the Federal Government to adopt strategic measures aimed at growing the nation’s industrial base and creating more employment opportunities for Nigerians.

This call follows the recent imposition of sweeping tariffs by the United States government—starting at 10 per cent for most countries—with Nigeria facing a 14 per cent tariff on its exports.

Obadimu advised that Nigeria should focus on its own economic strategy rather than worrying about decisions made by other countries.

 “It’s wrong to begrudge any country or president for making policies that prioritise their national interest,” he said.

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He urged the government to implement policies that will ensure job creation through local production and value addition. “Every time we export raw materials without processing them, we are essentially exporting jobs. Foreign factories do the processing, employ their people, and send the finished goods back to us. We remain a market, instead of becoming a producer,” Obadimu stated.

He emphasised the importance of reviving local industries, regardless of the sector—be it agriculture or minerals—by investing in value-added production.

Obadimu also warned that Nigeria cannot achieve industrialisation on its current power output of around 4,000 megawatts. “We operate a generator-driven economy. To truly industrialise, we need nothing less than 150,000 megawatts. You can’t run a country on generators and expect to build industries or create jobs,” he stressed.

He lamented Nigeria’s status as a consumption-based economy, flooded with imports from the U.S. and other parts of the world. “We are seen as a market, not just by developed nations, but even within Africa,” he noted.

Within the framework of the African Continental Free Trade Area (AfCFTA), Obadimu emphasised that each country must still develop its own strategies to benefit. He reiterated that the ultimate goal should be to increase exports, reduce imports, and generate a positive foreign exchange balance.

 “If your goods cannot compete in price or quality, you will have more imports than exports, resulting in forex loss. The AfCFTA philosophy doesn’t change the need for a country to export more than it imports,” he explained.

Obadimu acknowledged that each nation has the sovereign right to determine what imports or exports to promote or restrict, based on its development goals. He, however, criticized Nigeria’s history of inconsistent policies, citing an example where a ban on vegetable oil led entrepreneurs to invest in local processing factories—only for the policy to be reversed within two years.

Highlighting the approach of former U.S. President Donald Trump, Obadimu said it was clear from the onset that Trump prioritised reindustrialising America. He noted that the tariff strategy was aimed at bringing back jobs and reopening factories in the U.S.

He admitted that national interest should guide economic policy decisions. “We can’t fault a country for trying to provide jobs for its citizens. It is our responsibility as a nation to make clear, consistent policies—on exports, imports, or tariffs—that align with our long-term goals,” Obadimu said.