Full text of NACCIMA first quarterly council meeting, held in Abuja

…. expresses its commitment to full private sector participation in implementation of developmental FG agenda

By allcitynews.ng

1ST QUARTER COUNCIL MEETING OF THE NIGERIAN ASSOCIATION OF CHAMBERS OF COMMERCE, INDUSTRY, MINES AND AGRICULTURE (NACCIMA) HELD AT ABUJA FCT ON 24TH FEBRUARY 2022 COMMUNIQUE

PREAMBLE

The 1st Quarter EXCO and Council Meetings of NACCIMA were held at Abuja Federal Capital Territory on 23rd and 24th February, 2022. The meeting was hosted by the Abuja Chambers of Commerce and Industry (ACCI) and presided by the NACCIMA National President, Ide J. C Udeagbala, NpoM, KSJ.

The meeting was attended by representatives from City and State Chambers, Presidents and members of the Executive of the Chambers from all parts of the country. The NACCIMA Council noted the various reports and recommendations from its Standing Committees and Trade Groups whose activities cover fiscal monetary issues and the major section of the Nigerian economy such as Commerce, Industry, Mines and Agriculture, IT and Telecommunication, Health matters etc.

HIGHLIGHTS OF PROCEEDINGS AND RECOMMENDATIONS

State of the Economy

Council noted that the Nigerian economy has continued to improve since its last meeting in Benin, Edo State. Specifically, Council noted at growth in National output had slowed down slightly from a 5.01% percent growth in the second quarter of 2021 to a 4.03% growth in the third quarter indicating a continuous positive growth over the last four quarters since the recession witnessed in 2020. Council committed to accelerating activities in other to carry out the Association’s mandate of advocating and strengthening those sectors of the economy that are of keen interest.

The need for a definitive resolution of the oil and gas sector, to end fuel queues

NACCIMA Council discussed the recent crisis occasioned by importation of off specs PMS, which led to Petroleum Queues across the country with serious implications on life and the economy. The Council observed this was a reflection of the fact that the oil and Gas sector is still plagued by various problems and yet and the PIA is not functioning as envisioned to resolved the issue of the oil and gas sector. Council observed that a major issue is the importation of petroleum products and immediate steps must be taken to end importation of petroleum products. Consequently immediate steps should be taken to ensure all our refineries are working in full capacity for a definitive end to importation of Petroleum products.

Data Collection on Insolvent Industries across the Nation

The Council noted the progress that had been made on the data collection drive on industries across the country through the NACCIMA Secretariat. The data gathering exercise is to help drive private sector activities, in collaboration with member-chambers, for advocacy, business development, and trade promotion activities. The Secretariat was mandated to intensify these activities to focus on promoting market access opportunities, as well as, develop an empirical report on the state of insolvent industries and factories within each State of the federation.

In addition to the foregoing the Council also adopted recommendations on the following:
Strengthen and Support the activities of its women wing; the NACCIMA Women Business Group (NAWORG) and encourage the Youth to join NACCIMA Youth Entrepreneurs as part of strategy to encourage young people into the Chamber movement.

CONCLUSION

The Council acknowledged the Development Agenda of the Federal Government of Nigeria under its Medium Term Plan (2021-2025) and expressed its commitment to ensure full private sector participation in its implementation.

It also expressed its appreciation to the Abuja Chamber of Commerce and Industry led by its President, Alhaji Al-Mujtaba Abubakar