CICAN 2023 Annual Workshop ends with call for partnership with media over economic revival

In the middle – the Deputy Group Managing Director, Kewalram Chanrai Group -Mr Victor Eburajolo. To his right -the representative of the Chairman, Federal Inland Revenue Service -Mrs Oyeniyi Fadekemi. To Eburajolo’s left – the Chief Executive Officer (CEO), FAE Limited -Princess Layo Bakare-Okeowo. Next to her – the CEO, WVL Development Advisers Limited -Dr Waheed Olagunju. Next to him -the CEO, Center for the Promotion of Private Enterprise -Dr Muda Yusuf and the representative of the Director General (DG) of Manufacturers Association of Nigeria . To the right of Mrs Fadekemi – the CEO, Specta Industries limited-Chief Duro Kuteyi. After Chief kuteyi are the Chairman, Nigerians in Diaspora in Russia -Mr Uwem -Edimo Sampson and the representative of the DG, National Association of Chambers of Commerce, Industries, Mines and Agriculture respectively.

….stakeholders identify paper as best alternative to oil on revenue generation

By allcitynews.ng

The 2023 Annual Workshop organised by Commerce and Industry Correspondents Association [CICAN] might have come and gone, but the gains from that annual programme would take very long time in memory of each participant.

Stakeholders in the annual conference charged Federal Government to focus its searchlight into paper industry as the best alternative to oil and gas industry for revenue generation.

While participants went home with mixed feelings over whether to shield some known facts from the public or to write the facts and figures as they happened.

When cross section of participants argued that it is necessary to write the true state of things, it was a reminder of the slogan by Federal Government which say “if you see something say something” and the whistleblowing engagement whereby FG encouraged Nigerians to expose wrong doings as a means to prune corruption in the land.

Another reasons why the event would linger much in memory of participants is in their unanimous agreement against shying or deliberately covering up of negative news as most western media are known for in order to boost encouragement of foreign investors to invest in the country.

For instance, Dr Waheed Olagunju, Founder & CEO WVL Development Advisers Ltd expressed his disappointment over the way and manner Nigerian media houses are acting as instrument of discouragement for foreign investors who mostly depend on the reports of Nigerian media to take their decisions.

Blaming the negative influence through media reports, Olagunju, the Former Acting MD/CEO Bank of Industry, nevertheless solicited the partnership of media to win more investors via their positive writings despite the negativism in the land.

However, in swift reactions, some of the participants, especially the Managing Director & CEO FAE Limited, Princess Funlayo Bakare Okeowo argued against that call.

Bakare Okeowo cited the sideline of industrialists in policy making as reason for her call.

Noting that the press should not be told to keep quiet at the negative moves like the ones by President Bola Ahmed Tinubu whereby he is fond of going to overseas and diplomatic meetings with five or more state governors who have no positive role to play at the expense of going to such meetings with captains of industry that can add value to fast track of industrialisation goal of his administration.

Likewise, Bakare Okeowo and other panellists, disclised that investing in paper by BAT regime will go a long way in fast track of recovering of the economy, reiterated that paper industry can be highest revenue yield outside petroleum products.

In the same vein, the cross section of participants in hall having over 150 people said they wondered how can the press hide the truth from the general public despite the happenings in the country.

However, Olagunju, commended the current technology which has been playing major role to fast track the recovery of the economy in line with President Bola Ahmed Tinubu’s regime. And he reiteratedly argument that his call was meant to create confidence of foreign investors in investing in the economy, “if you observe foreign/western media often hide some negative reports all in bid to create confidence of people in their countries.

Moreover, Olagunju said, “President Bola Ahmed Tinubu has been going around the world as a way to woo more foreign investors into the country, the press should join hands with him to market Nigeria.”

The Chief Executive Officer, Centre for Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, in his goodwill message, said Nigeria is at a point of sacrifice, saying that the burden of the sacrifice is heavier on the common man.

Muda charging Nigerians to hold both politicians and Federal Government accountable on dividends of democracy, which is good governance, he advised that the outcomes of their economic reforms must benefit the citizens.

On his part, the Chairman, Spectra Industries Limited, Chief Duro Kuteyi, lamented that many Small and Medium Enterprises (SMEs) are closing shops due to the harsh operating environment, pointing out unavailability of raw materials as a result of farmer-herder clashes is hindering operations of many SMEs in the country.

Kuteyi stated the need for the present administration to give tax waivers for SMES to thrive, saying that SMEs need protection for their growth and development.

“SME protection is needed for their growth. There is an urgent need to stimulate the growth of SMEs with tax forgiveness. We will double Nigeria’s GDP if this happens,” he said.

Earlier in his welcome address, the CICAN National Chairman, Charles Okonji, said since the pronouncement of the fuel subsidy removal, many manufacturing outfits have closed shop.

He said tax policies are critical for Nigeria’s growth and development, calling on the federal government to urgently rejig its tax policies to attract potential investors and investors that have relocated outside the shores of the country due to the harsh business terrain.

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