We’ll protect your businesses, minister tells NACCIMA

The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has assured the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) of the Federal Government’s commitment to address challenges confronting local businesses and make them thrive. Oduwole maintained that it’s important that businesses in Nigeria thrive as they’re seen as the best […]

The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has assured the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) of the Federal Government’s commitment to address challenges confronting local businesses and make them thrive.

Oduwole maintained that it’s important that businesses in Nigeria thrive as they’re seen as the best advertisements for foreign direct investment.

She spoke at NACCIMA House in Lagos during an engagement with the leadership of the association.

The Minister said the NACCIMA leadership had expressed concerns about inflation, interest rates, and the need for single-digit interest rates, facilitation, access to credit, among others.

Oduwole noted that issues highlighted by the NACCIMA were familiar challenges, but expressed the government’s readiness to tackle them headlong, beginning from 2025.

“I’ve assured them very strongly that, from my work at the PEBEC, I’ve been a champion for investment retention in Nigeria. It’s important for us to make sure that businesses in Nigeria not only thrive but are seen to thrive because you have the best advertisements for foreign direct investment.

“We’ve also talked about the types of policies that NACCIMA members would like to see in 2025 and I’ve assured them that Mr President is committed to policy consistency,” the Minister said.

NACCIMA President, Dele Oye, welcomed the Minister’s assurances to close working relationships.

He said: “The Federal Ministry of Industry, Trade and Investment is our government access. This is the only ministry that has a full mandate over the private sector. Some of the work we do is based on mandates, including trade fairs and certificates of origin; directly from the ministry and that’s why we must continue to work together to make Nigeria a destination for business for direct investment and also to retain investments.”