NACCIMA Calls For Greater Public-Private Sector Collaboration

By BLESSING OKEZIE, Lagos

The Director General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, (NACCIMA), Ambassador Ayoola Olukanni, has called for greater public- private sector collaboration .

The Director General made the call at a recent Conference on review of Nigeria’s Foreign Policy held in Abuja.

The Conference was jointly convened by the House Committees on Foreign Affairs and Diaspora and the Ministry of Foreign Affairs to address the increasing calls for review of Nigeria’s Foreign Policy.

At the conference which brought together members of the National Assembly, Academia, members of the Armed Forces, representatives from the Nigerian Institute of International Affairs, retired Ambassadors and other stakeholders; Comptroller General Immigration Service and the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC),

Olunkanmi, who spoke on the topic “Economic Diplomacy and National Development: Effective Optimisation of Public-Private Partnerships” averred  that with the increasing role of the private sector in the Nigerian economy, the Private sector should be regularly consulted  in the articulation of  Nigeria’s Foreign Policy and its implementation.

He suggested that  this should be done in cooperation with the Ministry of Foreign Affairs and Nigerian Missions abroad.

The NACCIMA  DG,  who spoke  from the perspective of the private sector, used the ocassion to assure stakeholders at the conference of the readiness of NACCIMA, as the premier National Chamber of Commerce with members across the country, to continue to work closely with the National Assembly to ensure that Economic Diplomacy and it’s new variant the New Economic Diplomacy initiative(NEDi) as a component part of Nigeria’s Foreign Policy improves foreign investment  flows to Nigeria.

He further called for significant improvement in security across the country to ensure confidence of foreign investors in the  Nigerian economy, adding that Nigeria was indeed a worthy investment destination.

He similarly called for measures to ensure impact of remittances  from Nigerians in  Diaspora on the Nigerian economy and at  subnational level.

He suggested that serious consideration should be given to  closer interaction between Chambers across the country and groups and members of Nigerian Diaspora. On the issue of need for review of Nigeria’s Foreign Policy,  the DG, observed that time was overdue for  an  all stakeholders National conference to  review Nigeria’s Foreign Policy. This is to ensure  adoption of  strategic options  in  view of dramatic  changes in the new world order brought about by dramatic developments in the ICT and global Covid 19 Pandemic with consequences for the global economy and conduct of international relations.

He drew attention to the fact that the last time a similar Foreign Policy Review Conference took place was  35 years ago at the All Nigeria Foreign Policy Review Conference held at NIPSS in April 1986 at NIPSS Kuru. He said there was now an urgent need for “Kuru 2”.  “This is  to review our foreign policy to reposition Nigeria as major player in the global economy  as the world continues to witness dramatic changes  in the global  financial system  and economic landscape with  emergence of new key actors  shaping the global economy.

He recalled that the outcome document endorsed the recommendation and agreed that at regular interval of five  years,  there should be a review of Nigerian Foreign Policy.

The DG, also spoke on  the AFCFTA  as an area that deserves close attention as the nation  mulls which way to go as it  articulates a foreign policy posture and thrust with due attention to the economy.

He was of the view that any  foreign policy thrust should include a robust engagement that will promote the economy of the nation in which the private sector is expected to play a leading role. He pointed out that already several Nigerian conglomerates  have emerged as key players in some African Countries and their  products such as cement and other fast moving consumer goods dominate the market of those countries.

He also spoke of Nigerian Banks and financial institutions that are  already major players especially in several African  Countries. He drew  attention to the  thriving  Nigeria Digital Private Sector as reflected in performance of several Nigerian Fintech Companies.

“All of these are indications of readiness of the Nigerian Private sector to play key role in Nigeria’s  economic diplomatic engagement.

In his  comments, the Chairman of the House Committee on Foreign Affairs, Rt Hon Yusuf  Buba Yakub, expressed  appreciation to stakeholders who participated in the meeting and especially to NACCIMA as a leading member of the Organised Private sector whose  input will be critical in any new foreign policy thrust especially in  the area of Nigeria’s bilateral and multilateral economic  relations.

He assured that the various presentations at the conference will be factored into next steps regarding review of our foreign policy.