Tinubu’s Economic Diversification: Akume Urges NACCIMA to Leverage
- Senator George Akume, the Secretary to the Government of the Federation (SGF), has encouraged the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to...
- Akume emphasized that the Tinubu administration is actively working to establish a conducive business environment and ensure fair competition for private sector involvement. He stated that organizations...
- According to a statement released by his Special Adviser on Public Affairs,terrence Kuanum,Akume also praised NACCIMA's historical contributions to national development.
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SGF Akume Urges NACCIMA to Leverage Tinubu’s Economic policies for National Growth
Senator George Akume, the Secretary to the Government of the Federation (SGF), has encouraged the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to fully utilize President Bola Tinubu’s economic diversification policies to foster national growth. The call to action came during a courtesy visit from NACCIMA’s newly elected president, Engineer Jani Ibrahim, and the association’s executive council on Thursday, October 17, 2024, in Abuja.
Government’s Commitment to a Business-Kind Environment
Akume emphasized that the Tinubu administration is actively working to establish a conducive business environment and ensure fair competition for private sector involvement. He stated that organizations like NACCIMA are uniquely positioned to capitalize on these developments and bolster Nigeria’s economic foundations. This aligns with the administration’s broader strategy to reduce reliance on oil revenue and promote a more diversified economy.
According to a statement released by his Special Adviser on Public Affairs,terrence Kuanum,Akume also praised NACCIMA’s historical contributions to national development. He specifically urged the association to synchronize its initiatives with the government’s diversification and industrialization objectives.
NACCIMA’s Role in Economic Diversification
NACCIMA, as a leading voice for the Nigerian private sector, plays a vital role in advocating for policies that promote economic growth and competitiveness.The association represents a broad spectrum of businesses, from small and medium-sized enterprises (SMEs) to large corporations, across various sectors of the economy.
President Tinubu’s economic policies focus on several key areas, including:
- Diversification of Revenue Sources: Reducing dependence on oil and promoting growth in sectors like agriculture, manufacturing, and technology.
- Improved Infrastructure: Investing in transportation,energy,and dialog networks to facilitate business operations.
- Ease of Doing Business: Streamlining regulations and reducing bureaucratic hurdles to attract investment.
- Skills Development: investing in education and training programs to equip the workforce with the skills needed for a modern economy.
Timeline of Key Economic Initiatives (2023-2024)
| Date | Initiative | Description |
|---|---|---|
| June 2023 | Removal of Fuel Subsidy | Aimed at freeing up resources for investment in other sectors. |
| July 2023 | Central Bank Reforms | Unified exchange rates and measures to stabilize the Naira. |
| August 2023 | Tax Reforms | Proposed changes to simplify the tax system and improve compliance. |
| September 2024 | Agricultural Support Programs | Increased funding for farmers and initiatives to boost food production. |