The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has charged the incoming administration to pay attention to issues hindering the success of the business community.

NACCIMA said this was imperative to enhance socio-economic development in the country.

Ide John Udeagbala, President, NACCIMA, said this at the Commerce and Industry Correspondents Association of Nigeria (CICAN), Agenda setting for the incoming administration/investiture of new executives on Thursday in Lagos.

Udeagbala, represented by the Director General, NACCIMA, Dr Sola Obadimu, called for cooperation by the public and private sectors to enunciate policies that would foster a private sector-driven economy in Nigeria.

He commended CICAN on its efforts in ensuring that the organised private sector thrived positively.

“CICAN is vested with the responsibilities of analysing and reporting the country’s real sector and health of the Small and Medium Enterprises (SMEs) in Nigeria.

“It is therefore important that these responsibilities are carried out independently, void of bias and segregation.

“It is no longer news that there are challenges that the SME’s face, most of which are often ignored and consequently affects the productivity of these enterprises with adverse impact on the country’s GDP.

“As the voice of Nigerian business, NACCIMA encourages the incoming administration to pay attention to these issues.

“We advise that it works closely with the association as the synergy will be needed to further promote business interests in Nigeria and the global economy at large,” he said.

Similarly, Dr Chima Igwe, former Acting Director General, Federal Institute of Industrial Research, (FIIRO), Oshodi, said that Nigeria had in the last few years experienced significant drop in economic activities.

Igwe said that this had led to the loss of the purchasing power of the Naira.

He noted that the country exited recession but the effects still lingers with the possibility of a relapse, unless the nation truly diversify its economy.

He said that for national growth and development, national security and economic recovery and diversification, research and development in the fields of science, engineering, technology and innovation must be at the forefront.

According to him, this is because it has become practically impossible to envision a life today without reliance on science technology and innovation crucial for successful industrialisation.

“Science, technology and innovation (STI) is a very crucial cross-cutting sector in all developmental efforts of any nation if it is to be sustainable.

“It is mainly through the application of science, technology and innovation that a developing economy can grow to a developed economy by wealth creation for the nation and the citizens.”

He, therefore, charged CICAN to continue to push for monitor as well as interrogate the agenda for the incoming federal government administration.

Igwe said CICAN’s agenda should include looking inwards and utilising not only the country’s local raw materials but also its locally developed process technologies.

“Commerce and Industry are two sides of a coin and these are known as the key drivers of any economy,  while the media (CICAN) are strategic players in actualising both.

“I desire that CICAN through this event will give the incoming administration and all Nigerians a template for the transformation of the commerce and industry that will then serve as agents of economic growth and development of the nation,” he said.