NACCIMA Calls on Diplomatic Community to Support Nigeria’s Economic Transformation Plan

Michael Olugbode in Abuja

Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called for the support of the diplomatic community in Nigeria’s bid for economic transformation.

National President of NACCIMA, Dr. Jani Ibrahim, made the call in his keynote address at NACCIMA’s inaugural Economic Diplomacy Dialogue held on Tuesday in Abuja.

Ibrahim recognised the importance of collaboration with foreign economies to boost the country’s private sector and improve Nigeria’s drive towards economic transformation.

The event, which brought together ambassadors, government ministers, and business leaders to explore collaborative strategies aimed at strengthening trade, investment, and industrial cooperation, was organised by NACCIMA, in conjunction with the Ministry of Foreign Affairs.

The NACCIMA president described the initiative as a “new dawn in strategic partnership” between Nigeria’s organised private sector and international partners.

He said, “Today’s dialogue is designed to foster deeper engagement between the diplomatic community and Nigeria’s private sector to promote trade, investment, industrial cooperation, and inclusive economic growth.

“NACCIMA seeks to leverage this platform to align with the Federal Government’s 8-Point Agenda and the ‘Nigeria First’ principle, thereby amplifying our collective efforts toward realising a $1 trillion economy.”

Ibrahim highlighted series of policy proposals, including the establishment of a Private Sector-Diplomatic Dialogue Framework, the creation of joint working groups on trade and the digital economy, and impact monitoring systems to track measurable progress.

He disclosed that NACCIMA would host an Investment Summit, December 2-3, 2025, to explore capital flows into key growth sectors.

In his remarks, Minister of Foreign Affairs, Ambassador Yusuf Tuggar, underscored the federal government’s diplomatic strategy in support of private-sector growth.

Tuggar highlighted the significance of the event and reaffirmed NACCIMA’s central role in the Tinubu administration’s international economic policy.

He said, “NACCIMA is a very important programme of government, and it is important to what the Tinubu administration is trying to achieve in terms of promoting trade and investments and strengthening supply and value chains in Nigeria.”

The minister said the government’s “strategic opportunity” approach was one that avoided ideological alignments and focused instead on building pragmatic economic partnerships.

He stated, “Nigeria has always been open when it comes to dealing with other countries.

“We are being mindful of the size of our population. Our goal is to leverage that advantage to create as much employment as possible.”

Tuggar said the development of Special Economic Zones and regional development authorities was a key tool in the administration’s plan to attract investment and expand production.

He said, “We want to produce enough to feed ourselves and export to other countries.”

The minister clarified that energy transition efforts would not exclude Nigeria’s vast hydrocarbon resources.

He also spoke on industrial revival, highlighting ongoing investments in refining capacity and clean energy sectors, including those related to climate-related manufacturing.

“These are areas where Nigeria must participate actively,” Tuggar said.

He stressed the need to go beyond diplomatic formality and support real, business-driven collaboration between countries, stating, “It’s not enough to just sign IPPA.

“NACCIMA and their counterparts need to engage directly. That engagement, supported by the diplomatic community, will help us deliver results.”

He urged embassies and international business communities to invest in Nigeria’s transition economy.

Dean of the Diplomatic Corps, Ambassador Salaheddine Ibrahima, in his remarks, described Nigeria as “a country of unfathomable opportunities,” and praised Tinubu’s reform agenda.

Ibrahima, represented by the Ambassador of Lebanon to Nigeria, Houssam Diab, said, “These partnerships are pivotal to enhancing trade, investment, and sustainable development in Nigeria.”

Diab stated Lebanon’s move to establish a bilateral business council with Nigeria.

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, highlighted NACCIMA’s role in shaping Nigeria’s trade policy, including its leadership in the recently concluded five-year review of the African Continental Free Trade Area implementation.

Oduwole, who was represented by her special adviser, Patience Okala, said, “Nigeria was the first country to undertake this kind of assessment.”

She announced the launch of a new air cargo route linking Nigeria to 13 countries in Eastern and Southern Africa and unveiled plans for Nigeria’s first national export trading company, in collaboration with Afreximbank.