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ACCI reiterates need to enhance Nigeria’s gas infrastructure

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Abuja, Oct. 13, 2023:  Abuja Chamber of Commerce and Industry (ACCI) has reiterated the importance of enhancing Nigeria’s gas infrastructure.

The President of ACCI, Dr Al-Mujtaba Abubakar, said this during a media briefing on Friday in Abuja.

The meeting was to herald the 2nd Domestic Gas and Gas Infrastructure Summit (DGGIS’23) scheduled for Oct. 24 to 25 at the Abuja Trade and Convention Centre.

The summit has as its theme,“Building a Sustainable, Resilient Gas, and Renewable Energy Sector in Nigeria and Beyond”

According to Abubakar, the summit will bring together stakeholders in the energy and business sectors to discuss countless topics in the Gas sector.

“DGGIS has consistently delivered its promise to promote the critical discussion of various issues centred on rejuvenating the Nigerian gas industry.

“Its primary objective is to enhance domestic gas utilisation and the infrastructure needed to make the Nigerian gas industry globally competitive.

“Globally, natural gas has already replaced coal as the fuel of choice for electricity production, with climate and air quality benefits.

“ The rapid decrease in the cost of solar, wind and other renewable energy technologies makes these an even better alternative than gas in more and more locations,” he said.

According to the president, gas has a special role in the energy transition as a backup to a renewable-based power system.

He said, based on research, Nigeria currently accounted for 33 per cent of the total gas reserves in Africa.

“With a reserve base of 36.97 billion barrels of oil and 208.83 trillion cubic feet of gas, which represents 33 per cent of Africa’s total gas reserves of 620TCF.

“ Nigeria can be described as a gas-rich nation ranking number one in Africa in reserves with a life index of 94 years,” Abubakar said.

The ACCI boss then reiterated the commitment of President Bola Tinubu’s administration to leverage the domestic utilisation, processing and international export of Nigeria’s massive gas resources.

Abubakar said president Tinubu was committed to advancing the oil and gas sector as it was key to the country’s growth and development.

He said the conference was a platform to discuss the future of the Nigerian gas industry and, therefore, urged the media to help create awareness of the importance of the coming summit.

Meanwhile, the Chairman ACCI Energy Trade Group, Chinedu Maduakoh, said the summit would showcase the huge opportunities to be tapped in the gas space.

Maduakoh said that as much as the trend was shifting towards renewable energy, Africa and Nigeria especially could not abandon its gas deposits.

“Yes, there is a push by the Europeans and Americans to go cleaner using wind, solar and the rest, but what happens to our has deposits?

“In Africa, we have abundant deposit of gas that is being discovered. Nigeria also has about the seventh or eighth largest gas deposit in the world. “So are we going to abandon it because of the renewables, when we know there are lots of potentials for us to still use our fossil fuels?

“We can actually utilise it to achieve our developmental ambitions in the country,” he said.

On the impact of the summit’s first edition, he said it began the awareness creation of the various opportunities in the gas sector in terms of utilisation.

Maduakoh said following the recent decision by the government on subsidy; the summit would pave the way for Nigerians to consider a cheaper alternative like gas.

According to him, the summit will impact the price of gas products in the market.

“We have a large deposit of gas, which is much cheaper than petrol, and we are saying let us use this to develop and build the country.

“We are here again to create that awareness on the use and opportunities there is in the gas space, and that Nigerians should start thinking gas and building infrastructure on gas, he said.

“The summit brings together government policymakers and the private sector as well to engage and interact.

“And once that engagement, everybody sees the opportunities and ensures we keep building more infrastructure to bring down prices of domestic gas especially, that affects the average Nigeria.

On funding sources, he said the Bank of Industry and CBN had programmes for those interested in gas investment.

“We even have the private equity companies and venture capitalists looking for gas investment opportunities.

“So this is why we are holding the summit to create that opportunity and let people know that in the gas space, there are huge opportunities to be tapped,” he added.

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Abuja chamber of commerce seeks designation of UniAbuja as free trade zone

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The Abuja Chamber of Commerce and Industry (ACCI) on Wednesday sought the support of the Nigeria Export Processing Zones Authority (NEPZA) for the establishment of a special economic zone in the University of Abuja.

The President of ACCI, Dr Al Mujtaba Abubakar sought the support when he visited the Managing Director/Chief Executive of NEPZA, Prof. Adesoji Adesugba in Abuja.

Adesugba said that turning the institution into a special economic zone would encourage the private sector to set up industries in the free trade zone.

“We are partnering with the University of Abuja to create a free trade zone and why we are interested in it is that the university wants to practice what they are teaching people and that is why we are promoting this project.

“It is not only to read it in the books, it is also to come and see it physically. It is a very good initiative.

“So, if we get the license from NEPZA, we will promote it and develop the infrastructure.

“The University has provided the land, so with that and the license we will raise the fund to develop the infrastructure, invite the private sector to come and invest,’’ Abubakar said.

Similarly, the former President of ACCI, Prince Adetokunbo Kayode, said that the project would help the education system become sustainable.

“Sustainable in the sense of being able to raise their own funds for themselves and able to raise employable graduates and also being the centre for commercialisation of research.

“Thousands of researches are done on campus every year but very few get to the market place. Research that does not leave to the market place is a worthless one.

“All over the world universities look for opportunities to turn their efforts into value and create employable graduates.

“If NEPZA supports this project, it has laid the foundation to address the crisis in education in Nigeria,’’ Kayode said.

On his part, Adesugba emphasised the need for a business plan that would drive the process and guarantee its success.

According to him, most critical thing for us is to ensure that we have the place as a free zone and get it to first class that can be compared to any other in the world.

“We are going to use people within the university to develop something that is going to be a master free zone”.

Adesugba added that the special economic zone would provide the capacity needed to turn the natural resources in the university into wealth.

“It is a laudable initiative and we will set a mechanism to ensure that we process their application for a free trade zone.

“So, in a very short while we believe we will be able to give them that application and also assist them in setting up where industry and research in the university will come together with commerce, trade and tourism,’’ Adesugba said.

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Abuja Chamber of Commerce begins construction of ultra-modern market

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The Abuja Chamber of Commerce and Industry (ACCI), has begun the construction of an ultra-modern market.

A statement issued on Saturday in Abuja by Mrs Olayemi John-Mensah, ACCI Media/Strategy Officer, said the market was being constructed by Cityspace Property Limited.

John-Mensah said the President of ACCI, Dr Al-mujtaba Abubakar while receiving a team from Cityspace Property Limited, said that the project was aimed at transforming the business space in Abuja.

According to him, it will be rated as one of the best ultra-modern markets in Africa.

Abubakar said that the project would accomplish the Chamber’s goal of enhancing the sustainable growth and development of businesses in the Federal Capital Territory (FCT).

“It will also lead the private sector in the delivery of sustainable growth and prosperity in commercial activities and businesses in Nigeria,’’ he said.

According to Abubakar, the project is part of effort toward revitalising, diversifying the economy and improving the fortunes of the FCT and the country at large.

He said the ultra-modern market would comprise premium shops, general retail shops, warehouses, cold rooms, stalls, cafés and restaurants.

Abubakar said that the project would be implemented as a private partnership development initiative between ACCI and Cityscape Properties Limited.

“It will enhance the socio-economic activities of the city, provide a platform for year-round products for the implementation of African Continental Free Trade Agreement (AfCFTA).

“Other Africans can visit to transact and buy Nigerian products,’’ Abubakar said.

He also said that the market would meet the demand challenges of decent shopping environment for the teaming cosmopolitan population of Abuja and its environs.

The 1st Deputy President of ACCI, Chief Emeka Obegolu said “the project has been a long walk to where we are today.

“ I can only commend the commitment of the committee and the support of the development control on the project

“I have seen the timeline and I assure you that we would give the needed support and cooperation to see that this timelines are met”.

According to him, we look forward to commissioning this project in 2025 to the glory of God and the business community in Nigeria.

The Chairman of the project committee, Mr Osi Imomoh lauded the patience and support of the President of the Chamber, adding that the result of any good work was more work.

The Managing-Director, Cityspace Property Limited, Alhaji Mustapha Yahaya commended ACCI for the partnership,  saying “the timeline for the delivery of the project is from March 6 to March 5, 2025.

“The ground breaking is scheduled for March 21, 2023,’’ Yahaya said.

The Abuja Chamber of Commerce and Industry (ACCI)

ACCI plans investments in US, targets $2m repatriation annually

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The Abuja Chamber of Commerce and Industry (ACCI), has urged the Nigerian business community to leverage on its upcoming investment information series to own businesses in the U.S.

The Director-General of ACCI, Ms Victoria Akai, made the appeal on Wednesday in a news conference in Abuja, to herald the information series on investment opportunities in the U.S., tagged; “EB-5 Passport Series’’.

The event, scheduled for Oct. 20, at the ACCI Trade Convention Centre, Abuja, is organsied by Invest In the USA (IIUSA), in partnership with the ACCI.

According to Akai, the EB-5 Passport Series, is a pathway to owning a business in the US with permanent residency.

“The more investors Nigeria has in the US, the more opportunities we have to contribute to shaping policies that affect Nigeria and Africans in the U.S.

“According to World Bank statistics, Nigeria in 2019 had a total export of 53.6 billion dollars and total imports of 47 billion dollars, leading to a positive trade balance of about two billion dollars.

“Nigerians are being asked to come and invest in the U.S. like other countries come to invest in Nigeria, make money, employ their citizens, and whatever profits we make in the U.S., we are also allowed to repatriate it back to Nigeria.

“Eventually, in a year we should be able to repatriate up to one billion or two billion dollars to Nigeria,’’ she said.

According to Akai, many Nigerians seeking legitimate investments in the U.S., are not connecting with the right people, or getting correct information that will enable them effectively manage risks and guarantee success in record time.

“As experts in the field of international trade and investment, we recognise the leverage of being true global citizens in the sense of global mobility.

“Investment opportunities, which also provide opportunities for citizenship, could help to extend peoples’ economic impact and help them build beyond borders and also trade and live without limits.

“The process of investing in the U.S. has been the potential to significantly increase repatriation of funds to Nigeria.

“Nigerian investors can benefit from various continental and trade agreements existing in the U.S. such as the North American Free Trade Agreement (NAFTA),’’ Akai said.

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ACCI inaugurates project for decarbonisation pathways for Nigeria  

Stakeholders in the environment sector on Tuesday in Abuja, sought a credible decarbonisation pathway for Nigeria.  

They made the call at the inauguration of the Carbon Chamber Project (CCB), a conference organised by the National Chamber Policy Centre of the Abuja Chamber of Commerce and Industry (ACCI).  

The conference with the theme “Carbon Footprints Reduction: The Role of Business’’ aims at recorgnising the role of business in carbon reduction.  

Chief John Udeagbala, National President, Nigerian Association of Chamber of Commerce and Industry, Mines and Agriculture (NACCIMA), said that it was important to help businesses to access their carbon footprint, engage in advocacy for energy efficiency adoption.  

Represented by Chief Emeka Ogbolu, Ist Deputy President, ACCI, Udeagbala said that it was also necessary to create a link between business and green energy providers.  

“As much as we have raised the question of justice in energy transition at national and international levels, locally we need action to address our carbon footprints.  

“NACCIMA has over 70 chambers of commerce under its fold across the federation. With thousands of companies as our members, the Chamber Carbon project is our response to the global push for carbon emission reduction,’’ Udeagbala said.  

Dr Joe Abah, Country Director, Development Alternatives Incorporated (DAI) emphasised the involvement of businesses in further strengthening Nigeria’s resilience against climate change impacts.  

DAI is a company of skilled technical specialists and project managers, trained in the disciplines of international development.  

According to Abah, it is fundamental to establish a systematic approach for the country to identify the major climate risks and vulnerabilities facing the country and how to strengthen existing capacities to adapt to the impacts of climate change.  

“And here, the involvement of businesses and the civil society will be key,’’ he said.  

Abah said that finding the right balance between transition to green energy, climate change action, and equitable energy access was critical in carbon reduction.  

“In Nigeria, a just transition is necessary to achieve a low-carbon economy while ensuring a just outcome for communities.  

“Agriculture including forestry and land use change and energy sectors are key sectors requiring significant restructuring to achieve a just transition inclusive for all.  

“The green transition is a pathway that comes with many benefits in terms of income, job creation and environmental sustainability.  

“Both resilience and development can be achieved through a country and continent-wide green transition pathway that would see African economies adopt a low carbon, high-growth formula.  

“Green growth and climate-smart solutions are economic and existential imperatives.  

“Funding Nigeria’s climate requirements will require decisive action, strategic partnerships and an environment where a thriving private sector is free to develop innovative new business models,’’ he said.  

On his part, Mr Sean Melbourne, Head of Climate Change and Energy West Africa, UK High Commission, said that the transition to Net Zero `would require unprecedented changes in how we invest, measure risk and assign value to assets’.  

“Furthermore, greening the global financial system is crucial to ensure that the risks from climate change and the opportunities of transition, are systematically embedded and priced into mainstream decision making,’’ Melbourne said.  

The global shift to a low carbon economy would transform many sectors, including power, transport, construction and agriculture.  

“And as the biggest economy in Africa, the low carbon market opportunities in Nigeria are significant. Nigeria’s Economy is expected to undergo massive change over the next two decades.  

“The most obvious opportunity is perhaps in the renewables sphere but there are many others too.  

“Access to energy is key to promoting inclusive economic development, poverty alleviation, social equity and advances in health and education.  

“Off-grid renewables offer the most cost effective solution to bring energy to people who are not yet connected to the grid.  

“As such these technologies can contribute significantly to building climate resilience in poor rural and urban areas.  

“Responsible waste management and support for the biocircular economy is another growth area,’’ he said.  

Dr Dorothy Bassey, National President of Nigerian Environmental Society (NES) said that reduction of Green House Gases is important to boost global economy and well as improve public health.  

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ACCI identifies gas as catalyst for sustainable economic development  

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The Abuja Chamber of Commerce and Industry (ACCI), on Wednesday in Abuja identified gas as a catalyst for sustainable economic development in Nigeria.  

The Director-General of ACCI, Dr Victoria Akai, said this at a news conference to herald the Domestic Gas Summit scheduled for March 29 and March 30 in Abuja.  

The summit initiated by the Energy Trade Group of the ACCI is with the theme “Building a Sustainable Gas Economy”.  

Akai said that speedy development of Nigeria’s gas resources and infrastructure was essential in view of the negative effects of the current war in Ukraine.  

She said, “the current conflict in Europe has precipitated an energy crisis which is clearly a lesson for us to ensure a speedy development of our gas resources and infrastructure’’.  

Akai, however, commended the Federal Government for crafting a gas agenda which had become the Nigerian response to the energy transition question.  

While congratulating President Muhammadu Buhari, she said that the gas commercialisation agenda, auto-gas initiatives and other policy responses provided much needed answers for Nigeria’s need for energy transition.  

“The movement for energy transition is considered to be a global ideal.  

“Within the context of save the planet movement, countries in Africa are working to device appropriate responses.  

“Across African capitals, the debate is on as to what energy transition should mean for the peculiarities of each country.  

“For Nigeria, the fossil fuel question stirs us in the face.  

“Even though Nigeria is not a major contributor to global emission, the country as a responsible member of the international community has its commitment to keep.  

“The carbon reduction pledge made under the Paris agreement must be complied with.  

“Unlike other countries without sustainable alternatives, Nigeria has an option and that is gas, a cleaner, green energy source.  

“Friends of Nigeria cannot but agree that for Nigeria, a major gas producing nation, the preferred fuel is gas.  

“With that, the nation is acting within the confines of her international obligations, while at the same time, protecting her vital national interest,’’ Akai said.  

On his part, the Chairman, Energy Trade Group, Mr Chinedu Mmaduako, said that the summit would provide more details about investment opportunities within the value chain of the gas sub sector.  

“This is while we are looking forward to acquiring knowledge about local content and the place of small and medium enterprises in the emerging gas space,’’ Mmaduako said.  

ACCI wants better Nigeria-India economic ties

ACCI seeks to partnership with  CAC on membership of firms

The Abuja Chamber of Commerce and Industry Nigeria (ACCI) is seeking partnership with the Corporate Affairs Commission (CAC) to ensure that all companies become members of a Chamber of Commerce at the point of incorporation.

The ACCI President, Dr Al-Mujtaba Abubakar made this known during a

courtesy visit on the Registrar General of CAC, Alhaji Garba Abubakar in Abuja.

According to him, the first stage of the campaign is to make it optional and subsequently mandatory when Nigeria legislates on that in line with global best practices.

Al-Mujataba said that such policy existed in Europe, Middle East and South Asia with host of advantages including easier implementation of financial interventions for companies, inclusive consultation, post registration monitoring and partnering.

He said other benefits were ensuring expansion of tax base and enforcement of compliance, easy annual reports, tracing and tracking of companies involved in import or export businesses as well as easy verification of local partners by international investors.

Responding, the Registrar General of CAC, Alhaji Garba Abubakar commended the ACCI’s proposal, saying it had enormous potential to improve the nation’s economic growth.

While acknowledging the strategic role played by chambers of commerce toward the development of economies across the globe, the registrar general revealed that in some jurisdictions, they operated like company registries.

 Abubakar pledged to study the ACCI’s proposal within the ambit of the law with a view to implementing it for Nigeria’s economic growth.

The highlight of the visit was the submission of the draft proposal by the ACCI to CAC.

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Stakeholders brainstorm to improve power sector  

Stakeholders in the power industry in Abuja, exchanged policy ideas to deepen the process of reforming the country’s power sector.  

The stakeholders, at the 1st Abuja Electric Power conference, organised by Abuja Chamber of Commerce and Industry (ACCI) also stressed the need to focus on consolidating the outcome of the privatisation exercise in the power sector.  

The event is with the theme “Consolidating Privatisation of Power Sector: Issues and Challenges’’.  

President of ACCI, Mr Al-Mujtaba Abubakar, in his opening address, emphasised the need to allow market rules to function for an efficient and sustainable power sector.  

He said that the conference was significantly targeted at addressing outstanding issues preventing the effective delivery of power to businesses and citizens.  

“We note quite straightforwardly that market forces and principles should be allowed to operate within the sector.  

“The sector cannot perform efficiently and sustainably if market rules are not allowed to function.  

“This is even more germane now that global governments are suffering from dwindling revenue. All indices confirm that government cannot sustain continuous intervention in the sector.  

“We believe efficient regulatory actions will go a long way to ensure all stakeholders play their part across the value chain.  

“A situation where regulators are reluctant to enforce established regulations can create distortions within the system,’’ he said.  

Al-Mujtaba, however, commended the operators of the power sector for keeping the system functioning despite challenges and urged the Federal Government to strengthen the privatisation of the power sector.  

“We accept and acknowledge the success stories such as the successful management of the assets and liability of the defunct National Electric Power Authority and survival under difficult conditions.  

“We call on the government to consolidate the privatisation exercise to address problems and hiccups within the system. This must however be done with strict attention to the protection of private investment in the nation’s power sector,’’ Al-Mujtaba said.  

On his part, Mr Wilson Ali, Vice President, Nigerian Institution of Power Engineers, said that a reduction in price of electricity was possible if challenges faced in reforming Nigeria’s power sector were tackled.  

According to him, in efforts to improve the power supply situation in the country, the government opted for reforms and eventual privatisation of the sector to attract private sector finance, technical and admirative expertise.  

“However, the government and citizens’ expectations have not been fully realised 15 years after the exercise.  

“After privatisation of the entities, the new investors were supposed to bring in innovation in the operations of these entities to reduce losses further, improve operational efficiencies and reduce the price of electricity to the consumers.  

“Unfortunately, the way the privatisation was executed, the expected innovation in the operations of these entities is still lacking,’’ he said.  

Ali advised that electrical power institutions (Nigeria Electricity Regulatory Commission, system operators and market operators) established to drive the reform implementation process should be strengthened.  

“All hands must be decked to ensure that the challenges identified and recommendations made are looked into to address and implement them for the growth and development of Nigeria Electricity Supply Industry and the nation’s economy,’’ Ali said.  

Similarly, the Managing Director of Transmission Company of Nigeria (TCN) Mr Sule Abdulazeez, noted the need for stronger collaboration between state governments and the public towards addressing `Right of Way Issues’.  

Represented By Mr Benedict Ogbu, General Manager, Business Development, TCN, Abdulazeez blamed some Nigerians for building on routes.  

“The public has played a role in delaying power progression, especially when they erect buildings in mapped power line routes, thereby affecting the completion of some projects,” he said.  

Abdulazeez pointed the need to sustain continued implementation of projects through the new Nigeria electricity grid maintenance, expansion and rehabilitation program.  

“We need to improve financing for federal government funded projects across the country and drive DISCOS to improve viability and efficiency,” he added.  

Abdulazeez said that one of the challenges of the power sector is liquidity issues.  

“How do we take care of liquidity issues in market rules.  

“Market rules said that as a DISCO to ensure that you pay your bill you must put in an estimated bank guarantee of your three months bill.  

“But when we got into the business proper, we could not follow that rule therefore DISCOS are now paying according to their ability to pay not the bill.  

“This is to the extent that the power sector is now faced with serious liquidity issues.  

“Therefore, if generation companies cannot get their money paid it means they cannot pay the gas producers therefore they will generate less.  

“It means they too cannot maintain their assets nor improve it, therefore there is no improvement in power production,’’ Abdulazeez stressed.  

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ACCI sets up 8-man committee on NITDA Bill

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The Abuja Chamber of Commerce and Industry (ACCI) has set up a working committee to collate ICT stakeholders’ contributions on the National Information Technology Development Agency’s (NITDA) Digital Economy Bill.
Theeight-man working committee headed by Amb. Segun Olugbile, ACCI said, was constituted to properly review the Bill and generate actions and recommendations to be submitted in two weeks.
The body was the outcome of a consultative meeting between ACCI, the National Chamber Policy Centre of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and ICT sector stakeholders.
Mrs Olayemi John-Mensah, Media/Strategy Officer, ACCI, in a statement on Saturday said that the new NITDA Bill had been generating controversies targeted at stifling the tech sector in the country, hence the need for a review.
She quoted the Vice-President, Technology, Skills and Digital Economy, ACCI, Mr Osi Imomoh, who chaired the meeting as saying that the ambiguous sections of the bill had generated reactions because of its perceived threat to the ICT business community.
According to her, Imomoh said that the ambiguous sections should rather be clearly spelt out to give ICT operators understanding of the implications the passed bill might have for their businesses.
“Concerns have been raised within Nigeria and the American Business Council over the Bill. The functions of the Agency according to reactions are not also properly spelt out,” he said.
She said Imomoh called on participants at the meeting to look at the session that infringed on ICT business and engage NITDA in those areas rather than tackling every issue.
“The chamber conveyed the meeting in the interest of the business community to address these bottlenecks and also engage NITDA to amend some of the sections that were infringing on ICT business operations in Nigeria,” he said.
She said the Director-General. ACCI, Victoria Akai, also stated that a lot had been said about the bill particularly the threat it posed to ICT in some sections.
She said that Akai pointed out that in compliance with the tradition of policy advocacy, the chamber decided to convey the internal consultative meeting.
“We intend to gather the viewpoints of our members which will now inform the stand to be taken by the Chamber’s leadership. Our deliberations will generate specific amendment to the provision of the Bill as proposed by NITDA.
“Our proposed amendment to the Bill will then be forwarded to the Director-General, NITDA and the Honourable Minister of Communication and Digital Economy.
“Our resolutions here, will also form the bases of our media engagement which will push for the protection of the interest of the business community,” she said.
She also quoted Olugbile on the review of the bill as saying that its content did not suggest any kind of development for the tech sector, but instead proposed more of what would cripple digital economy than encourage development.
She said Olugbile, who emphasised the groups’s expectations from NITDA added that the meeting was not to confront government, but to brainstorm on the bill to chart a way forward, create more jobs and good business environment for the sector.
“From the look of things, we now have an agency that wants to take control of everything including, licensing, registration, regulations, authorisations and others.
“The essence of this engagement is to bring the issue to the attention of the public and ensure that the Organised Private Sector (OPS) help to shape the opinion of the public sector,” Olugbile said.
She said Olugbile called on the Organised Private Sector (OPS) like NACCIMA to engage NITDA to shape any policy coming from the government, adding that the billll could not work if NACCIMA was not integrated as the OPS representative.

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ACCI signs MoU on digital economy, seeks private sector’s integration

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The Abuja Chamber of Commerce and Industry (ACCI) has called on the Federal Government to effectively integrate the private sector into the making and implementation of the digital economy policy.

Dr Abubakar Al-Mujtaba, ACCI’s President, made the call on Thursday in Abuja while signing a Memorandum of Understanding (MoU) with Continental Project Affairs Associates Ltd. (CPAA) on Digital Economy and ICT Policy.

The collaboration with CPPA, a key player within the ICT space, would deepen the drive to create an all-inclusive digital economy policy platform for Nigeria.

Al-Mujtaba, however, said that government’s efforts would not yield desired effect unless the private sector was effectively integrated into the making and implementation of digital economy policy.

According to the ACCI boss, worldwide, the private sector is put on the driver seat to speed up innovations and cost-efficient operations of the ever-widening sector.

He stated that designing a digital economy policy without strong input of the private sector would create serious error.

“To develop the sector effectively, engagement with the private sector is key; policies emerging from such consultation will integrate the aspirations of the operators and assist the regulators to emerge as facilitators.

“That is why the ACCI as the leading chamber in Nigeria decides to institute a ‘Digital Economy Series’ which will regularly dwell on ICT Policy issues and produce policy contributions.

“The MoU is to further actualise the dream of a virile ICT policy series,’’ he said.

Al-Mujtaba, while commending the government on various initiatives introduced, added that ICT contribution to Gross Domestic Product (GDP) was growing every quarter while the potential of the sector as a job creator was well documented.

“With a troubled oil sector and global drive against fossil fuel, digital economy holds the key especially for a country with youths dominated demography,’’ he said.

Responding, Amb. Segun Olugbile, Managing Director, CPPA in a remark noted that the MoU would galvanise the private sector through the ACCI to work together with the government to harness the digital policy opportunity.

According to him, presently, there are policy innovations, direction and strategic initiatives and there are opportunities that the business community will tap into.

“The idea will enable policy dialogue between the business community and government, bridge the gap, harness business initiatives and enable needed private sector investment as well as job creation.

“There are a lot of businesses coming up within the ICT environment; on the long run, it will empower and stimulate businesses, bridge disconnect between local SMEs and digital world,’’ he said.

Olugbile added that it would offer Digital SMEs which aimed at transforming businesses through the use of ICT, policy dialogue engagement with private sector and business led economy event on innovation and local content.

Earlier, Mr Olawale Rasheed, Executive Director, ACCI Policy Advocacy Centre (PAC), said the centre adopted a unique strategy of tapping technical and intellectual know-how of professionals across the sector for policy advocacy and associated activities.

Rasheed noted that aside digital economy policy, it had lined up for approval of several policy programmes and has jointly coordinated policy programmes with trade groups, hence its newest partnership with the ICT trade group.

Mr Osi Imomoh, ACCI Vice President, ICT who also expressed delight on the MoU, said it would energise the chamber, empower members and scale up increasing growth of the ICT sector.

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