The Kaduna State Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) has been urged to support the Economic Sustainability Plan (ESP) designed and approved by the Federal Government to rebuild and sustain businesses affected by the COVID-19 pandemic.
The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Hajiya Saratu Aliyu, who gave the advice, said it would be in the interest of the Nigerian business community to key into the programme of the Government to overcome the negative impact of COVID-19 on businesses in the country.
She gave the advice at the yearly general meeting and inauguration of new executives of KADCCIMA. She further urged the officials of the chamber of commerce to tap into the other stimulus package put in place by government, considering the post COVID-19 pandemic and its challenges to lives and livelihood as well as the economy.
“This period calls for an innovative approach to rebuild and sustain businesses in Kaduna and across the northern part of Nigeria that is why I want to draw your attention to the Economic Sustainability Plan (ESP) designed and approved by the FEC to stimulate the economy by preventing business collapse, retain or create jobs, improve infrastructural investments in roads, bridges, solar power and communications technology.
“The ESP also seeks to promote manufacturing and local production and advocate the use of made in Nigeria goods and services as a way of achieving self-sufficiency in critical sectors of the economy,” she added.
She enjoined the chamber to take advantage of the opportunity under ESP and work closely with the Kaduna state government through public private partnership taking note that Kaduna is endowed with agricultural and mineral resources.
Aliyu assured that NACCIMA will continue to support and promote the activities of KADCCIMA in the advocacy for policies and programmes that benefit the private sector and encourage the growth and development of Nigeria.
Meanwhile, the acting President, KADCCIMA, Alhaji Suleiman Aliyu said the Nigerian economy was hardly hit by the twin crisis of pandemic and decline in crude oil prices.
He said the outbreak of the coronavirus pandemic with its attendant restrictions on economic activities and severe impact on the oil market reversed Nigeria’s growth profile in 2019.
According to him, “The non manufacturing sector contracted as its PMI slid to 35.7 points in June 2020 from 49.2 pointed recorded in March 2020. This suggests a weaker growth in the second quarter of 2020. The sector continued to contract for the sixth straight month in October 2020 dampening hopes of Nigeria making a quick economic recovery.
He stressed urgent attention needs to be given to stimulating manufacturing because the real sector, alongside the primary sectors of the economy, holds the key to job creation, export diversification and investment.
He then urged that there should be effective measures to cement the linkages between agriculture, mines and transportation to break the import dependence, create jobs and reduce poverty.