House of Representatives Committee on Commerce Collaborates with NACCIMA in Stakeholder Forum

On the 23rd of April, 2024, the Committee on Commerce of the House of Representatives, in conjunction with the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), convened an influential stakeholder forum. Held in the New Building Extension of the House of Representatives, the event marked the commencement of a series of dialogues aimed at propelling the commerce and trade sector forward.

The forum began with an invocation and subsequent introductions from attendees. The assemblage was presided over by the esteemed Hon. Ahmed Munir, Chairman of the House Committee on Commerce, who, along with the Vice-Chairman and ten committee members, extended a warm welcome to participants, highlighting the presence of the distinguished NACCIMA delegation led by its National President, Dele Kelvin Oye.

In his address, Hon. Munir delineated the Committee’s scope, encompassing the oversight of various governmental sectors, including industry, trade, and consumer protection, among others. He emphasized the incumbent administration’s commitment to enacting and revising laws and policies vital for the nation’s economic rejuvenation. The Chairman affirmed that the Committee is set to deploy every legislative tool to make a tangible impact.

On their part, the NACCIMA, represented by National President Dele Kelvin Oye, introduced the association as Nigeria’s premier business network, advocating for policies conducive to economic prosperity. He cited the successful collaboration between governments and Chambers of Commerce in countries such as Germany, Singapore, and the United States, which has been instrumental in achieving high rankings on the Ease of Doing Business Index.

Drawing inspiration from these international best practices, President Oye proposed key legislative actions to enhance Nigeria’s economic landscape, including:

1. Tax Law Reformation: Emulating New Zealand’s simple tax system to encourage compliance and attract investments.
2. Business Facilitation: Replicating Rwanda’s reforms to improve ease of doing business through efficient company registration and permitting processes.
3. Investment Promotion and Protection: Establishing legislative frameworks akin to Singapore’s to ensure investor confidence.
4. Infrastructure Development: Following Japan’s example of combining dedicated funding with innovative technologies to boost commerce.
5. Trade Facilitation: Implementing agreements like the AfCFTA to expand market access and competitiveness.
6. Industrial Policy: Creating laws to support industrial growth in sectors with high global competitiveness potential, inspired by South Korea.
7. Regulatory Reform: Learning from Canada’s efforts to align regulations across sectors to reduce business costs.
8. Skills and Capacity Building: Investing in education and training programs, taking cues from Finland’s approach.
9. Public-Private Partnerships: Leveraging successful models from Australia to combine private sector efficiency with public sector support.
10. Intellectual Property Protection: Ensuring robust IP protection to foster innovation, similar to the United States model.

In conclusion, President Oye emphasized that with these legislative measures, Nigeria could become an African industrial, trade, and commerce powerhouse. He asserted NACCIMA’s readiness to work closely with the National Assembly to ensure the nation’s prosperity and its people’s well-being.

Responding to NACCIMA’s presentation, the Committee suggested the organization of workshops with relevant agencies to raise awareness among the public and businesses. The Committee agreed that government recognition and support for the business community should be bolstered by legislation.

The Committee expressed its intent to work with NACCIMA on enhancing laws and policies for the industry and trade sector. The forum concluded with the Committee on Commerce extending gratitude to NACCIMA’s President and delegates for their insightful contributions and pledged continued collaboration.

The NACCIMA delegation was comprised of prominent figures including Engr. Jani Ibrahim (1st Deputy President), Dr. Idi Hong (2nd Deputy ACCI), Alh Suleiman Farouk (NVP), Chief Kola Akosile (NVP), Dr. Agada John Elachi (Chair of NACCIMA Training Institute), Dr. Victoria Akai (Chair of NACCIMA Trade Fair Committee), Ms. Uche Osoka (Director General of Nigeria Turkiye Business Council), Ms. Weyinmi Eribo (DG of Women Chamber of Commerce and Industry), among others.

For further inquiries, please contact:
Kunle Fadare
NACCIMA Abuja Office
Phone: 08065349364

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