The President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye, has said the recently launched trade will improve the non-oil trade balance.

Oye said this while speaking on behalf of the Organized Private Sector of Nigeria at the stakeholders’ sensitisation workshop and public presentation of the 2023-2027 Trade and Investment Policies for Nigeria, organised by the Federal Ministry of Industry Trade and Investment at the Nigeria Export Promotion Council.

The NACCIMA boss commended the President, Bola Tinubu’s-led for the launch of the trade and investment policies for Nigeria.

He also said that it was gratifying to see that the policy prioritised the growth of small and medium enterprises and the informal sector, which were the backbone of Nigeria’s economy.

Oye said, “At the core of this initiative is the aim to improve Nigeria’s non-oil trade balance, and use the talents of our youth and women entrepreneurs to achieve a positive trade excess.

“It is gratifying to see that the policy prioritises the growth of small and medium enterprises and the informal sector, which are the backbone of Nigeria’s economy.”

Oye noted that the policy document was a blueprint that sets the tone for Nigerian businesses and investors to realise their potential in the local and international markets.

According to him, the policy underscored the emphasis on enhancing the competitiveness of Nigerian businesses in a globally dynamic landscape, and strengthening institutional frameworks and regulatory environment that drove trade and investment

He said, “I would like to extend my heartfelt congratulations to the Federal Government of Nigeria for bringing this policy to fruition. This policy document is a blueprint that sets the tone for Nigerian businesses and investors to realise their potential in the local and international markets.

“The policy indeed acknowledges the current challenges and opportunities created by economic globalisation and the need for Nigeria to improve her competitiveness in the global economy.”

According to him, the policy recommended measures that would strengthen the nation’s domestic industries and support integration and participation in the global market.

He said, “The policy underscores the emphasis on enhancing the competitiveness of Nigerian businesses in a globally dynamic landscape and strengthening institutional frameworks and regulatory environment that drives trade and investment.

“This is indeed commendable, as it will incentivise local businesses to invest more in research, development, and innovation, ultimately achieving sustained economic growth.”

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