The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye Esq., has lauded the Federal Government’s decision to relaunch the National Trade Facilitation Committee (NTFC).
His commendation came during the relaunch event at the Bank of Industry conference room in Abuja.
Oye emphasized increased collaboration between the private and public sectors to propel economic growth and development across Nigeria.
In his address, Oye underscored the significance of partnership in leveraging national assets for the collective benefit of Nigeria.
“NTFC is pivotal in establishing an efficient trade environment conducive to economic diversification, industrialization, and job creation,” he stated.
Oye hailed the integration of the Trade Facilitation and Liberalization Sub-Committee of the Presidential Council on Industrial Revitalization with the NTFC as a strategic move.
He noted that such integration demonstrates the government’s commitment to harmonizing efforts and streamlining operations in alignment with the overarching goals of the Renewed Hope Agenda.
Emphasizing the importance of trade facilitation, Oye stressed the need for reforms to enhance Nigeria’s trade protocols, reduce barriers, and improve the ease of doing business.
He emphasized that these efforts would attract more foreign direct investment and bolster the country’s export potential, ultimately leading to a nexus of opportunities for employment and wealth creation.
Oye also underscored the role of Chambers of Commerce across Nigeria as pivotal players in the journey towards economic transformation.
He highlighted their function as platforms for articulating policy recommendations, sharing best practices, and fostering partnerships that transcend national borders.
Moreover, Oye reiterated the necessity of collaboration between the government and the private sector, emphasizing that it enables the optimization of resources for national development.
He stated the unique contributions of each sector, with the public sector providing regulatory frameworks and policy direction.
“In contrast, the private sector brings innovation, efficiency, and execution capability,” he added.
He called upon all stakeholders to view the relaunch of the NTFC as more than a symbolic gesture.
He urged them to perceive it as reaffirming their collective commitment to progress and prosperity.
Oye expressed NACCIMA’s unwavering support for the NTFC’s renewed vigour and strategic focus, pledging the organization’s full engagement and collaboration in realizing the transformative journey ahead.
Meanwhile, NACCIMA has voiced concerns over the Central Bank of Nigeria (CBN) clearing Nigeria’s forex backlog, highlighting challenges member companies face in accessing foreign exchange.
While acknowledging the CBN’s announcement on March 20 that it had cleared all ‘valid’ foreign exchange backlogs, NACCIMA emphasized the need for drastic steps to address unmet forex requests by some private sector operators.
Despite the CBN’s commitment, Oye revealed that many NACCIMA member companies have reported that their funds in Naira have been retained for extended periods, some for over a year, without communication from banks or the CBN, leaving their business operations uncertain.