NACC recommits to promoting SMEs growth

The President of the Nigerian American Chamber of Commerce, Mrs Adebola Williams, has reaffirmed the chamber’s dedication to fostering the growth of Small and Medium Enterprises, to ensure their sustainability and compliance with international standards.

She stated this at a press briefing on Monday for the forthcoming 2024 edition of the Africa Foods & Products Exhibition themed “Actualising Sustainable Economic Growth’ – “Think Global, Be Local” which is scheduled to take place in April in Lagos.

Williams, said, “The NACC facilitates bilateral trade between the USA and Nigeria through networking, advocacy, and investments.

“Our focus is on SMEs and micro-enterprises, providing platforms for business connections, profile building, and exploring global opportunities. We emphasise the transformation of Nigerian products into finished goods for export, aiming to maximise revenue.

“The chamber engages with policymakers to address business growth concerns and act as a link between Nigerian and American businesses,” Williams added.

Also, the Acting Director-General of NACC, Ms Wofai Samuel, highlighted the platform as one that would enable Nigerian businesses and SMEs across Africa at large to foster partnerships with similar businesses operating across their niches, connect with importers, producers, suppliers, distributors, and retailers.

“The opportunity reinforces Nigeria’s position as the biggest market in Africa and will create new entry paths for emerging products.

“We look forward to the influx of visitors not just in Nigeria, but in other parts of the continent and the success of this edition will re-echo the Chamber’s position as indeed foremost for promoting intra-African trade,” she averred.

On his part, the Chairman of the African Foods & Products Exhibition Committee, Ayo Stuffman, remarked that the exhibition would be a platform for Nigerian businesses, both members and non-members, to showcase their products.

According to Stuffman, it will also provide SMEs with insights from established businesses to improve their practices.

He noted, “This underscores the vital role chambers play in economic development. Collaboration among stakeholders like policymakers, industry leaders, and organisations is essential to creating a favourable business environment for growth and economic contribution.”

The Vice Chairman of the African Foods & Products Exhibition Committee, Mrs Yemisi Ogundipe, added, “The theme is apt considering the current situation of the Nigerian economy. The chamber has identified that many businesses are facing challenges, possibly due to government policies and other factors. It is essential to ensure the sustainability of businesses, as they are a crucial component of the economy.”

She stressed the importance of SMEs thriving, noting that many disappear within five years.

“The NACC aims to make them sustainable and uses the exhibition to inform business owners about the Nigerian economy’s current state and how to achieve gradual, sustainable growth.

“As a chamber, we urge Nigerian business owners to think globally due to foreign investment interests in our economy,” she declared.

Ogundipe encouraged businesses to embrace global trade practices, as local mindsets may not be accepted globally.