The Nation Newspaper

Tag: NBCC

  • NBCC to explore new frontiers between Nigeria, UK

    NBCC to explore new frontiers between Nigeria, UK

    The Nigerian-British Chamber of Commerce (NBCC) has stated the need for Nigerian and British businesses to leverage their strengths and explore new frontiers at the forthcoming trade mission in the United Kingdom.

    Mr Ray Atelly, President, NBCC, said this at a news conference on Thursday in Lagos.

    Atelly said the 2024 NBCC Trade Mission slated for June 24 to 28 has the theme: “Unveiling Untapped Opportunities Across the UK and Nigeria.”

    He said the advice was crucial to navigate the complexities of a post-Brexit and post-pandemic global economy.

    He noted that the trade mission was critical, particularly at this time when the Nigerian economy needed a rebirth especially via influx of foreign direct investments.

    He said Nigeria’s dynamic economy, rich in resources and entrepreneurial spirit, presented a wealth of investment opportunities for UK businesses, particularly as Nigerian banks need capital to meet the new capital threshold set by the apex bank.

    Atelly added that the UK, with its advanced infrastructure, diverse market, and robust legal framework, offered numerous opportunities for Nigerian businesses seeking to expand their footprint internationally.

    “It is certainly not just a window but a big door of opportunities thrown open to investors all over the world, the United Kingdom particularly.

    “The Central Bank of Nigeria Governor, Olayemi Cardoso, has agreed to feature in the trade mission and he will be delivering a paper on his programme for the banks (recapitalisation of Nigerian banks).

    “It is, therefore, an opportunity for the financial institutions in Nigeria to join us on this mission to explore possibilities beyond borders,” he said.

    He also stated the need to explore and unveil untapped opportunities that exist within both economies.

    Atelly said on the Nigerian front, opportunities existed in the transportation, educational and technology areas while for Nigeria in the UK, opportunities were in housing, food exports and culinary delights.

    He stressed that Nigeria must expend efforts such as this to replace businesses that were being lost, noting that the net gain was in the country’s favour.

    He pledged that the NBCC would continue to be at the forefront of fostering strong bilateral trade relations between Nigeria and the United Kingdom.

    “This trade mission is a testament to our commitment to deepening economic ties, promoting business opportunities, and enhancing mutual growth and development,” he said.

    Read Also: Suit seeking Ganduje’s removal as APC national chair June 26 for hearing

    The Director General, NBCC, Mrs Ebere Njoku, said the trade mission would high the vast and often underused opportunities in Nigeria’s key sectors such as agriculture, technology, manufacturing, and energy.

    Njoku said the knowledge exchange in best practices between business leaders would foster innovation and collaboration between Nigerian and British business leaders.

    “The UK-Nigeria relationship is built on a foundation of shared history and mutual interests.

    “This trade mission is not just about business; it is about building bridges, fostering understanding, and creating a future where both nations can thrive together.

    “As Nigeria navigates challenging economic conditions due to the decline in global oil prices, it has become imperative for us to diversify our economy and reduce our dependence on crude oil.

    “The NBCC Trade Mission stands as a beacon of opportunity, aimed at attracting foreign investments to Nigeria with a focus on our non-oil sectors,” she said.(NAN)

  • NBCC, Education First set stage for 6th African EdTech conference

    NBCC, Education First set stage for 6th African EdTech conference

    As part of the build-up to the highly anticipated 6th edition of the African Edtech Conference, delegates from the Nigerian-British Chamber of Commerce (NBCC) and Education First Nigeria Limited paid visits to key stakeholders across various sectors.

    These visits aimed to strengthen partnerships, solicit support, and promote dialogue on leveraging technology to enhance education across Africa

    The African EdTech Conference, now in its sixth edition, brings together experts, policymakers, educators, and innovators to exchange ideas, showcase innovations, and chart the course for Africa’s educational future.

    Read Also: Port Harcourt-Aba train service begins operation in March, says FG

    The conference’s theme, ‘Building an Effective African EdTech Ecosystem for Global Impact,’ aims to address key challenges and opportunities in using technology to improve learning outcomes across the continent.

    The delegates, which included NBCC’s Vice President, Mr. Seyi Adeyemi; CEO/Co-Founder Moses Imayi; Former Permanent Secretary for Ministry of Education and Edufirst Advisory Board Chairman, Dr. MacJohn Nwabiala; Assistant General Manager Chinyere Emeruwa; and PR Consultant Deborah Emmanuel, met with various organisations to discuss the importance of the African EdTech Conference and explore opportunities for collaboration. Notable visits included those to the Ministry of Women Affairs, the Nigerian Communications Commission (NCC), and the TY Danjuma Foundation.

  • Stop handing out cash as palliative, NBCC advises FG

    Stop handing out cash as palliative, NBCC advises FG

    The Nigerian-British Chamber of Commerce (NBCC) has called on governments to stop handing out cash to individuals as palliative. 

    Government, it said, should instead train the individuals to become more productive.

    President and Chairman of the Council, Ray Atelly, gave the advice at the Nigerian-British Chamber of Commerce first quarter briefing on 2024 Economic Outlook for Nigeria at the council headquarters in Lagos.

    Atelly advised the Federal Government to invest in youths and increase their participation in economic activities beyond peripheral roles and borderline operations.

    He said with vocational training, Nigeria can also address the challenge of Insecurity and Okada menace by making them become gainfully employed.

    “Nigerian youths have a 7.2% unemployment rate. This is far higher than the national average of 5%. It means that over 16 million Nigerian Youths are unemployed. But how many of this lot are employable? 

    “This is where the training interventional at all tiers of government in Nigeria has become expedient. What shall become of Nigeria in 20 years if these youths wander their ways into adulthood with no clear direction, filled with bitterness instead of love for country?

    Read Also: Fed Govt’s food palliative, others get to constituents

    “It is time to wake up from the dream that Nigeria is a rich country. We are not rich when we have over 100 million citizens living below the poverty line. Poverty is everywhere and all around. It is time to live less pretentiously and more realistically.”

    He said Nigeria should stop printing more Naira notes, advising the Central Bank of Nigeria(CBN) to start mopping up the excess cash in circulation. 

     “How can money supply grow from 53.1 Trillion in January 2023 to 78.7 Trillion in December of same year without a corresponding increase in GDP.

    “Let all urgent steps be taken to provide Export incentives so that we may start exporting in good numbers and earning forex. It is time we ended Tax Audits and highly publicised tax raids that do more harm than good to the reputation of Nigeria and the Nigerian economy.

    “It is time we stopped giving the world the impression that Nigerian companies are tax evaders. For these are our business associates who might pull out of vital projects, as a result, leading to a loss of investment inflow and employment opportunities,” he stated. 

  • NBCC seeks members’ economic interests

    The Nigerian Nigerian-British Chamber of Commerce (NBCC) has reiterated its commitment to protecting the economic and business interests of its members.

    Speaking during a courtesy visit to National Agency for Food and Drug Administration and Control (NAFDAC) Director-General, Mojisola Adeyeye, NBCC President,  Akin Olawore  the visit followed series of strategic engagements by the group to key stakeholders within the Nigerian and British business community to form collaborations, strengthen partnerships whilst also extending the commitment and support from the chamber.

    Olawore said the visit would further foster the relationship between both organizations by highlighting the continued importance of the role they play.

    He used the medium to call for the continued support for NAFDAC in the fight against adulterated drugs in the Nigerian market which considering its effects, has a negative impact on competitiveness and margins of legitimate businesses within the country.

    Olawore also pledged the Chamber’s support in the fight against adulteration.

    Adeyeye stated that, in ensuring the medium and small-scale businesses thrive, the Agency has reduced the registration fees for micro businesses to encourage more registrations while also engaging in trainings for such businesses.

    She also stated that, a support system has been set up on its online and offline platforms to engage more with prospective and operational businesses and ensuring for a greater understanding of NAFDAC procedures within the Nigerian Market.

     

     

  • NBCC holds meeting on Brexit

    The Nigerian-British Chamber of Commerce (NBCC) has held a meeting on the British Government’s planned exit from the European Union.

    The NBCC has engaged stakeholders and member partners of the commission to its quarterly advocacy group breakfast session to discuss the impact and opportunities for key stakeholders within the Nigerian and British business communities in relations to trade with the United Kingdom in the coming months.

    The meeting, which was organised by the commission aimed at enlightening stakeholders on preemptive steps to be taken in positioning their businesses and taking the lead with great advantages the Brexit has to offer.

    Read also: Owners, NIMASA clash over burnt ship

    Delivering the keynote speech, the British Deputy High Commissioner to Nigeria, Laure Beaufils stated that one major opportunities the Brexit presents to stakeholders is that, it avails the British government the independence to put in place its own trade policies as a country, alongside other countries which includes Nigeria and other business communities with affiliation with Britain.

    She also stated, that the increased trade relations and engagement will be beneficial for investors and trading markets as the relationships will not just be limited to commercial affairs, but through British establishments and commitments.

  • NBCC to promote IT compliance

    The Nigeria-British of Chambers of Commerce (NBCC) has said it will promote information technology compliance among its members in 2019.

    Its President Akin Olawore, said this during the 41st Presidential Dinner and Awards at the Oriental Hotel, Lagos.

    According to him, the dinner is a special occasion for the Nigerian and British business communities to network.

    “This year has been an activity packed year for the chamber, as we have engaged in strategic partnerships and collaborations aimed at promoting business relationships between the Nigerian and British business communities whilst also adding value to our member partners which is the aim of the chamber,” he said.

    Guest Speaker and Chairman of the Channels Media Group, Mr John Momoh, hailed the NBCC for its role in providing a platform for members to come together and speak about business innovations while also promoting bilateral trade and new business models.

    According to Momoh, digital era is an amazing era for growth and development with opportunities for simplified affairs if exploited in resolving prevalent global issues.

    The immersion of technology and innovation in the digital age could help save cost through effective and impactful ideas and would largely improve the standard of life and longevity of the people, he said.

  • ‘May’s visit will deepen relationship between countries’

    The business community in Lagos says the visit of British Prime Minister, Theresa May, will deepen existing bilateral relationship between the two countries.

    Some members of the Lagos business community expressed their views on the sideline of the British Prime Minister’s meeting with the business community in Lagos on Wednesday.

    Mr Akin Olawore, the President of Nigerian-British Chamber of Commerce (NBCC), said that the meeting was pertinent for Nigeria to maintain a strong economic relationship with Britain in alignment with its membership of the Commonwealth.

    “It seems very convincing now that Britain wants to explore trade with Nigeria and we are also ready to do business with them.

    “We are supposed to be natural business partners because we have so many things in common.

    “But I believe this visit is setting a tone for partnership because we can now work together and see how we can help each other achieve real trade growth.

    “Now that they are ready for serious business with Nigeria, genuine business people can take advantage of the opportunities,” he said.

    Olawore said that the proposed Investment Cooperation Agreement (TICA) between the two countries would enhance trade competitiveness, economic growth and ease of the business climate in the country.

    “The Cooperation Agreement means we are now partners and it will also spell out conditions of free trade agreements

    “If you look at our agric export, for lack of meeting their standard or European Union standard, they were stopped at the port, but now that will not happen again.

    “Instead of stopping it at the ports, they will come and work with us here to ensure that the standard is what they expecectd it to be which is how partnerships work, you do not wait till the person make mistakes, but you work together to achieve mutual growth,”he said.

    He said that trade betwen Britain and Nigeria was expected to rise above 100 million pounds before the end of 2018 and could hit $8 billion by 2020.

    Mr Babatunde Ruwase, the President, Lagos Chamber of Commerce and Industry (LCCI), said that the business community should position itself to explore the various opportunities and maximise the benefits of the mutual partnership.

    “It is a good development for Nigeria and British relationship because we can see enthusiasm that came from the Prime Minister’s visit and her planned investment in certain sectors of the economy.

    “Particularly, their interest in the areas of improving investment in Fintech and infrastructure development,” he said.

    The News Agency of Nigeria (NAN) reports that Nigeria is Britain’s second largest trading partner in Africa.

    Nigeria’s top export to the UK is crude oil and its largest import is refined oil.

    May is on a trade mission in an attempt to bolster Britain’s post-Brexit fortunes.

    This is her first visit to Africa since she became Prime Minister in 2016.

    The visit was part of her efforts to “deepen and strengthen partnerships around the world as the UK prepares to leave the European Union (EU) next year.

  • NBCC boosts investment opportunities

    The Nigerian-British Chamber of Commerce (NBCC) is promoting trade and investment opportunities between Nigeria and the United Kingdom (UK).

    The NBCC has therefore concluded plans to lead a trade mission to the UK where business concerns from both countries will be discussed.

    The group said it will provide platform for Nigerian and British businesses to  collaborate so as to encourage, promote and facilitate trade and investments between the two nations.

    Speaking at the pre-mission briefing in Lagos, NBCC President, Akin Olawore, said the five-day mission scheduled from June 11 will feature a series of business to business meetings with prospective partners from various British Chambers of Commerce (BCC), key policy influencers and Nigerians in Diaspora.

    Olawore said delegates will have the opportunity to participate at the international business festival in Liverpool and the London Technology Week with a working conference themed: “The Ease of doing business in Nigeria- A sound Check” included to hold at the Institute of Director, Pall mall, London.

    On volume of trade between the countries, he said the volume of trade is improving due to increase in business from both countries, adding that more will be achieved as trade relations improve and wrong narratives dealt with through accurate information dissemination.

  • NBCC: cash flow major challenge to SMEs

    The Nigeria-British Chamber of Commerce (NBCC) has identified low cash flow in as a major challenge to Small and Medium Enterprises (SMEs) in the country.

    Speaking with The Nation, NBCC President, Mr Akinola Olawore, advised the government to do more of infrastructure spending to redress the situation, adding that entrepreneurs’ activities will help Nigeria attain sustainable growth.

    Olawore said consumption of locally made products and export activities are required for national growth and not crude oil prices. Confirming that finance is always a problem, he said finance remains the quest for entrepreneurs to expand businesses.

    He identified two other major problems to include entrepreneurs’ lack of management skills and lack of information infrastructure for SMEs.

    He, however, said the chamber is trying to address the two problems by bringing to their exhibition those who will advise them and  help them do the back-end things they need to do for their businesses at costs that are a fraction of what they would have paid if they had gone out by themselves.

    Olawore advised SMEs to see themselves as part of the government and do whatever little they can to make things happen.

     

     

  • NBCC holds meeting March 22

    The diversification drive of the Federal Government is set to get a boost as the Nigerian-Belgian Chamber of Commerce (NBCC) hosts its first breakfast meeting for the year in Lagos. The theme is: The challenges of funding for agriculture in Nigeria.

    The Chamber’s President, Tunde Okoya, said the session, which holds at the Eko Hotel, Victoria Island, March 22, would be a platform for information sharing and uncommon business networking, with unique opportunities for partnerships with the Chamber.

    He said lack of adequate funding, high bank interest rates and difficult access to credit still remained challenges to agricultural growth.

    “Development in the agricultural sector is a major key to improving the economic situation,” Okoya said at a press conference to announce the meeting.

    Head of event, Arum Sukmawanto, a member of the Chamber, said the Chamber was committed to strengthening the growing bilateral relationship between Belgium and Nigeria via opportunities of credible trade linkages.

    Belgian business concerns are looking to invest in the agric sector, food packaging and processing, manufacturing, among others.

    Several speakers drawn from the agribusiness community will be on hand for dialogue and networking.