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Nigerian-American Chamber to promote non-oil exports

By BusinessNews Staff on January 30, 2015

The Nigerian-American Chamber of Commerce (NACC) has said it will focus on improving trade relations in non-oil sectors in between both countries.

The National President, NACC, Mr. Olabintan Famutimi, said this on Wednesday at a press conference in Lagos to announce plans for its forthcoming trade mission.

Famutimi said although America used to be Nigeria’s largest trade partner because of oil, the Chamber is assiduously working on changing such.

“We have been focusing more on promoting non-oil exports. And one of our focus during this trip is also to broaden the market for Nigerian products in America.
“We are determined to focus more in broadening the exports of Nigerian products to America.”

Also speaking on the upcoming trade mission, he said: “Biennially, the NACC undertakes a trade mission to the United States of America to primarily afford members opportunity to connect with potential partners in the US.

“It is equally a window to seal up good business deals with US companies.”

According to him, this year’s event would focus more on agriculture, ICT, healthcare, financial services, construction, logistics and power.

He added: “We have existed for 54 years and the biggest investor in the Nigerian economy is America and since we have become an oil producing mono economy and the biggest investors in oil and gas is America. “Four years ago when we had a session with the American embassy in Abuja, 99 per cent of exports was all oil and oil related.

“The imports of American products to Nigeria was a small figure compare to our export but so far there has been an improvement.”

Also speaking at the event, a member of the Board, NACC Mr. Kingsley Ozobia said: “We have been talking with the ministry trying to make sure that everything is put together to achieve what we are going there to do.

“This particular government is focused more on agriculture and we are trying to harness that opportunity as it would help quite a number of people in Nigeria and that is why we are choosing sector as a major focus in this trade mission.”

On her part, a member of the board and planning committee, Mrs. Mary Ade-Fosude said: “We intend to take 40 delegates on this mission which would cross across different sectors. The first batch of delegates are being screened at the moment we have about 20 out of the 40 delegates.”

[ThisDay]

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