President of the Nigerian-American Chamber of Commerce (NACC), Dame Adebola Williams, has said the reason Nigerian goods do not do well in terms of export is because many business owners prefer taking shortcuts.
“The United States, for instance, has their standards and rules and if you are to do business with them, you must keep to their rules. Unfortunately, many Nigerian business owners like shortcuts to try to get things.
“If something is going to take three months, the average Nigerian is looking for how to do it in one week. We have to learn how to apply rigour to whatever we are doing, do it the way it is supposed to be done and do not take shortcuts,” she said.
Speaking at the 62nd yearly general meeting of the chamber in Lagos, yesterday, she said despite the modest success recorded last year, it was a tough year for businesses not only in Nigeria but worldwide.
Noting that despite the economic challenges recorded, the chambers’ programmes, advocacy, relationship with the U.S. and collaboration with government and private organisations were revived.
However, she said the chamber did not fare too well financially last year seeing as businesses are just trying to recover from the COVID years.
“In the last two years, we were not able to do much and we have just started to build again. I am sure that if we sustain the pace of activities, this year would be much better. We will continue to seek ways of exploring socio-economic opportunities through businesses and services for members’ prosperity by engaging with policymakers, opinion leaders and stakeholders through various means of advocacy,” she said.
Speaking on the chamber’s achievements last year, she said they held a breakfast meeting for members on AfCFTA’s importance for businesses, embarked on a trade mission to the U.S. to foster linkages with U.S. businesses and stakeholders as well as launched new chapters home and abroad amongst other activities.
Williams added that the chamber has put in place plans for an African food and products exhibition where members will showcase their goods and services to the public. Promising that it would be big, she said it would be well publicised, and over 250 exhibitors would be participating.
Admitting that it has been a tough few years for businesses, she urged entrepreneurs not to give up but keep striving.
“We can only hold on to government’s promises that things will improve for the better soon. People are very expectant of what this government would come up with in terms of palliatives, not just for business but also for all Nigerians. I would advise businesses to join chambers of commerce because there is safety in numbers. There is so much they can gain from joining our chamber for instance as we serve as a bridge between local businesses here and our partners in the U.S. We can teach them how best to export goods.”
Speaking, the Director of Communications, Government Relations and Advocacy, NACC, Wofai Samuel, stated the chamber recorded some successes in 2022, despite the global inflation challenges fueled by the Russian-Ukraine war, FX scarcity and Naira currency change which affected small, medium and large scale business within the chamber.
“As a reputable player in the U.S.-Nigeria business community, the AGM as a tradition is a reflection of the chamber’s commitment to operating a transparent financial system, upholding ethics and good governance. The 19th President was inaugurated, Osun State chapter was launched with Maryland underway, we are active in conversations to extend AGOA to 2035, we had breakfast meetings with African-Export Import Bank, the U.S. Commercial section and Chevron under the year in review. I believe it was a good year despite the many challenges,” she said.
