.Seeks greater attention to economic diplomacy
By Valentine Amanze, Online Editor
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has made appeal for impactful public-private sector collaboration to boost Nigeria’s economy.
The NACCIMA Director General, Ambassador Ayoola Olukanni, made the appeal at a conference on “Review of Nigeria’s Foreign Policy” jointly convened by the House Committees on Foreign Affairs and Diaspora and the Ministry of Foreign Affairs in Abuja in response to calls for review of Nigeria’s Foreign Policy.
The director general, in a paper, “Economic Diplomacy and National Development: Effective Optimisation of Public-Private Partnerships,” stated that with the increasing role of the private sector in the Nigerian economy, it should be regularly consulted in the articulation of Nigeria’s foreign policy and its implementation, stressing, “This should be done in cooperation with the Ministry of Foreign Affairs and Nigerian Missions abroad.”
He however assured stakeholders of the readiness of NACCIMA, as the premier National Chambers of Commerce with members across the country, to continue to work closely with the National Assembly to ensure that Economic Diplomacy and its new variant, the New Economic Diplomacy initiative (NEDi), as a component part of Nigeria’s Foreign Policy improves FDI flows to Nigeria and becomes more impactful on the nation’s economy.
Besides, he called for significant improvement in security across the country to ensure confidence of foreign investors in the Nigerian economy and that Nigeria was indeed a worthy investment destination.
He also appealed for measures to ensure impact of remittances from the Nigerian Diaspora on the Nigerian economy and at sub-national level.
The director general urged the government to ensure closer interaction between Chambers across the country and Groups and members of Nigerians in the Diaspora.
On Nigeria’s Foreign Policy, the director general advocated for an all stakeholders’ National conference to review it 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 pointed out that the last time a similar Foreign Policy Review Conference held was 35 years ago at the All Nigeria Foreign Policy Review Conference held at NIPSS in April 1986 at NIPSS Kuru.
He stressed that there was an urgent need for “Kuru 2” “to review our Foreign policy to reposition Nigeria as major player in the global economy as the world continues witnessing dramatic changes in the global financial system and economic landscape with emergence of new key actors shaping the global economy.”
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 said that any Foreign policy thrust should include a robust engagement that would promote the economy of the nation in which the private sector was 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 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,” he said.
Responding, the Chair 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 who’s 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 the nation’s Foreign policy.
The conference 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) also attended the Conference.
