The Odu’a Chamber of Commerce, Industry, Mines and Agriculture (ODUA’ ACCIMA) is set to push the industrialisation of the Southwest by replicating in other states in the geopolitical zone the same friendly business climate in Lagos.
One of the planks of the industrialisation is power supply. It is exploring other sources of alternative energy needed for production processes, as it done under the administration of Lagos State Governor Babatunde Fashola and other neighbouring states in the region.
President, ODU’A ACCIMA, Iyalode Alaba Lawson, told The Nation that it was high time lovers of the region, who desire to see it take its place among those making global economic impact, rose to the occasion.
She said: “Energy, which is one of the critical factors in global economic advancement has become a national challenge, and the government cannot do it alone; neither can members of the organised private sector (OPS) or the chambers of commerce. Until we all come together to proffer and agree on solutions to this malignant national challenge, the end in sight is economic doom and dependency of our region on grants from donors.”
While insisting that the national challenge of availability of energy for economic production processes in the country is grave and seem to have defiled every effort by all governments to overcome, Lawson however, disclosed that ODU’ACCIMA is set to explore the prospects of using solar, biomass, biodiesel and ethanol, which are alternative sources of energy in the economic production process with south west as the focus.
She expressed optimism that the region is capable of growing steadily to become the global economic giant of repute, having been adjudged as the fastest growing economic hub in the country.
The ODU’ACCIMA boss said the perennial power challenge has grounded the economic production process of the country at large and the regions in particular, including the Southwest hence, the chamber is determined to turn things around. She said, for instance, that the poor power supply situation made it impossible for the cottage and small scale industries to survive.
The blue chip firms are not spared of the effects of poor power supply either, as most of them have had to grapple with rising operational cost due to the use of alternative power supply.
She regreted that industries experience epileptic performance occasioned by the high cost of production, while consumers bear the burden of high cost of goods and services.
Mrs Lawson argued that it is impossible for any country powered by fossil fuel to experience the desired economic growth and development because of its high cost.
“Fossil fuels, such as petrol and diesel, apart from their exorbitant cost, are globally becoming unpopular and their use is discouraged because of their destructive effects on the environment. The use of fossil fuels is hazardous to human lives and agriculture, which is the bedrock and main stay of any true economy,” she said, adding that this was why the chamber is driving the use of alternative sources of energy by partnering a number of banks such as Diamond Bank, Sterling bank, Ecobank, and Bank of Industry (Bol), among others.
Indeed, experts say that there is a direct correlation between energy consumption and GDP generation, which perhaps, explains why the current trend globally is for nations to inject a significant percentage of renewable energy into their energy mix rather than totally depending on fossil fuels as energy sources. This realisation must have hit business operators in the Southwest region, who, riding on the back of ODU’ACCIMA, are making frantic efforts to explore alternative energy sources.
The other plank is the small and medium scale enterprises (SMEs) sector, which the chamber is riding on to further give the region an edge. Governor Kayode Fayemi of Ekiti State perhaps, articulated the region’s efforts in this direction when, at the Third southwest regional integration forum with the theme: “MicroSMEs as Solution to unemployment and economic development” held at the Fountain Hotel, Ado-Ekiti, Ekiti State, he said strong and vibrant SMEs are at the core of economic development and prosperity of any nation.
“This programme is a step in the right direction in setting our region back on the path to economic development. If we don’t tackle the scourge of unemployment by growing the SMEs, we will all be consumed by it even in our air-conditioned offices. We must therefore, look for creative and innovative ways to tackle this problem, which is what this forum is aimed at achieving,” he added.
Fayemi said the idea of regional integration of Western Nigeria was initiated in 2012 by the governors of Ogun, Oyo, Osun, Ondo, Lagos and Ekiti states and the vision is to aggressively work together to “rebuild Western Nigeria into a first world status in terms of its economy, infrastructure and standard of living of our people.”
Besides, the Southwest regional integration programme, he said, strives to put in place institutions charged with formulating policies and implementating development policies that would prepare the region for global competition through the establishment of the developmental agenda for Western Nigeria (DAWN).
The Chairman at the forum, Aare Afe Babalola, Chancellor of Afe Babalola University Ado Ekiti (ABUA), lauded the initiative saying: “It is clear that the governors, who have put this together are good visionaries. I believe they have what it takes to diffuse unemployment and provide a bedrock for economic development.”
