NACCIMA Hinges Economic Revival On Private Sector

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has expressed confidence in the ability of the organised private sector to revive the economy by keying into the intervention initiatives of the Federal Government.

The President, NACCIMA, Hajiya Saratu Aliyu, said members of the association were ready to take advantage of the N2.3tn stimulus package under the Economic Sustainability Plan and various stimulus programmes unveiled by the government.

While speaking at a press conference in commemoration of the 60th anniversary of the chamber in Lagos on Tuesday, Aliyu said the monetary allocations in the proposed 2021 budget to households, pharmaceuticals, agriculture and manufacturing sectors at single digit interest rates were appreciated.

However, she warned that the yearning of the government to address infrastructural deficits such as road and railway should not lead to additional debt burden for the country.

Aliyu added, “We welcome the various facilities in the budget such as the N100bn for households and the N100bn for healthcare and pharmaceuticals and N1tn for large agriculture and manufacturing business.

“We have also taken due note of the indication that the facilities will be at reduced interest rate from nine per cent to five per cent.”

She called on the government to promptly pass the budget and ensure thorough implementation, saying this was key to the success of the budget.

“As private sector operators, we are ready to heed the call by the President to the private sector to come forward and avail ourselves of the various funding facilities. We, therefore, hope those who will administer the funds will ensure proper and effective implementation of the facilities,” the NACCIMA president said.

The President, Major General Muhammadu Buhari (retd.), had presented the proposed N13.08tn budget for 2021 to the National Assembly last week.

Aliyu said that the 60th Anniversary, which would continue till February next year, had been themed, ‘The Future of Business’.

According to her, NACCIMA will continuously reflect and adopt strategies to navigate the new and emerging economy.

She said the association would continue to play its advocacy role as the voice of Nigerian business in the new digitalised economy.

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