By Rukayat Moisemhe

Policy makers and business advocates will converge to promote Nigerian-British bilateral, business and trade relations to spur massive investments between both countries, the Nigerian-British Chamber of Commerce (NBCC) says.

The Chamber’s leadership made this known during a news conference on Thursday in Lagos.

Mr Segun Akintemi, Chairman, Trade and Investment, NBCC, said notable Nigerians and British nationals would meet up to discuss policies at the inaugural dinner of the 18th NBCC President, Mr Ray Atelly.

Akintemi said that the Minister of  Industry, Trade and Investment, Dr Doris Uzoka-Anite, would launch an initiative of the chamber; a Micro, Small and Medium Enterprises (MSME) Ideathon at the dinner.

He said that the dinner was scheduled for Nov. 24, at Eko Hotels and Suites in Lagos.

“At the inauguration dinner, we will launch an Ideathon for small businesses and see how they can materialise to be a business.

“One of the things Nigeria needs now is both local and foreign investments, and there must be policies to spur such.

“The president will also unveil his mandate for the next two years; this will afford members the opportunity to understand the future of the NBCC during his tenure,” Akintemi said.

Mr Tajudeen Ahmed, Chairman, Programmes Committee, NBCC, said that the Chairman, Heirs Holdings, Mr Tony Elumelu, and Malam Muhammad Ahmad, Chairman, Polaris Bank, would be at the event.

Ahmed added that the new Managing Director, Bank of Industry (BoI), Olasupo Olusi, and the British Deputy High Commissioner, Mr Jonny Baxter, would be on hand to enhance bilateral trade relations.

“These people are well known for entrepreneurship and would be on hand to provide value both for MSMEs and large multinationals,” he said.

Also, Dr Ebere Njoku, Director-General, NBCC, said the chamber would continue to unveil programmes and provide advocacies as the foremost channel of trade and commerce between Nigeria and Britain.

She noted that the NBCC’s affiliation with the British Chambers of Commerce gave members beneficial access to a network of 53 Chambers across the UK.

Njoke added that it also gave members access to 71 other international affiliates from all sectors of the economy.

“To show the chamber’s commitment to building and expanding business opportunities for members and prospects, this inaugural dinner is bringing together business leaders, investors, policymakers, and other key stakeholders in trade and investment.

“The Chamber carries out various activities targeted at the promotion of trade, investment, advocacy, business incubation, training, and business networking and functions via committees and sectoral groups.

“This year’s presidential inaugural dinner will be the 18th of the Chamber and will also serve as a social and networking platform, therefore, building business interaction among participants.

“The event is a true reflection of our commitment to progress and a symbol of our collective aspirations.

“We are expecting an impressive and diverse crowd of people, including elected officials, local leaders, supporters, and well-known professionals from numerous disciplines to attend the inauguration dinner,” she said. (NAN)
Edited by Christiana Fadare

By Lucy Nwachukwu/Justina Auta

The Managing Director, News Agency of Nigeria (NAN) Malam Ali Muhammed Ali, has urged the media to give more visibility to the nation’s Small and Medium Enterprises (SMEs) to bolster development.

Speaking on the sidelines of the West Africa SMEs Exhibition 2023 in Abuja on Thursday, Ali said that promoting SMEs would also help in driving the nation’s economic visibility.

According to him, most people overlook small enterprises and focus on the big corporations because they have the budgets for promotion through advertisement.

”But the real game is in SMEs. In other developed climes, for example, the Asian economy was transformed through the focus of the media on SMEs.

”In the UK, small businesses are the engine rooms of the growth of the economy.

”I urge the media to look at the small businesses; for the small things actually count otherwise they will be swallowed up.

“They are the ones that engage people the most in job creation,” Ali said.

On energy, the NAN boss said even when available, it came at a very horrendous cost, thus the need to innovate and look for alternative sources of energy.

He said, ”Renewable and green energy is the way to go, a lot of people have migrated completely to that  because it’s a lot cheaper after you have made the initial investment.

”It is important for SMEs to think outside the box, come together collectively to generate their own energy, so that they share the cost of energy supply.”

According to Ali, the issue of multiple taxation is hindering growth of many businesses.

He called on the relevant bodies to ensure tax reliefs, while commending efforts of President Bola Tinubu’s administration for the various initiatives targeted at curbing multiple taxation and ensuring tax reliefs.

Also speaking, the President and Chairman, Governing Council of NASME, Dr Abdulrashid Yerima, said SMEs were the backbone of the economies of countries.

He said that SMEs served as catalysts for job creation, economic growth and innovation, but often faced myriad of challenges.

Yerima said, ”These range from limited access to finance, regulatory constraints and inadequate infrastructural support.

”It is therefore imperative that we establish a collaborative platform that can effectively address these challenges and propel the growth and sustainability of SMEs in our region.”

Mr Ahmad Hamza, Dawanau International Grains Market Traders Association, said the challenge of exchange rates was affecting their profits.

Other exhibitors at the event were: BOI, NPF Microfinance Bank for BETA Woman Savings and Loans, Elond Engineering Services, UTO spices and Marinades, among others.

Other highlights at the event included an exhibition by various manufacturers and vendors from other West African countries. (NAN)

Edited by Dorcas Jonah/Bashir Rabe Mani