By; FUNMI OROYE ADERINTO, Kaduna
President Muhammadu Buhari, on Saturday said that Nigeria’s economy is influenced by both external and internal factors like any other country operating within the present global setting.
Honourable Minister of Industry, Trade and Investments, Ekechukwu Enelama who represented President Muhammadu Buhari, expressed this during the opening ceremony of the 39th Edition of Kaduna International Trade Fair, held in Kaduna.
According to him, the country faces the challenge of steering the economy towards global economic integration through trade liberalization, efficient and effective mechanism for conflict resolution.
He stated that, at the domestic front, there are challenges of nurturing a stable democracy founded on respect for the rule of law, security of lives and property, adequate supply of power and energy, infrastructure, judicious management of national resources, all essential for creating the enabling environment for private sector participation in the economy.
He further said, multilateral institutions have emerged with international mandates to regulate and harmonize trade practices globally as the entire world has metamorphosed into a global village.
He stressed that with the advent of information and communication technology, transaction that took days and months to consummate before, now take mere seconds.
He noted that “we must therefore gird our loins to face the challenges of global trade through adhering to best practices.”
He maintained that, the Nigerian economy largely depends on oil and gas export with increasing contributions of non oil exports to the nation’s foreign exchange earnings.
Meanwhile, His Excellency, the Deputy Governor, Architect Yusuf Bala Bantex who represented the Governor on Saturday at the 39th Kaduna International Trade Fair with the theme: “Promoting Commerce, Industry and Agriculture for International Competitiveness”, urged local and foreign businessmen and women to showcase to the world new products, innovations and business ideas that will further strengthen the nation’s economy, especially in Kaduna.
He emphasized the need for businessmen and women to develop new innovations in their various businesses.
The Governor said Kaduna State Government since 2015 has paid so much attention to investment within the state, thereby making Kaduna State one of the easiest to do business in the country.
“We have attracted so many local and foreign investments to the state within the last two and a half years of our administration and are still doing a lot to attract as many businesses to the state because that is the surest way of generating employment to the teaming youths and to equally boost the economy thereby generating more revenue for the state,” he said.
On agriculture, he said the state government has introduced a number of policies in line with the Federal Government’s policies on agriculture which makes farming a full time business in the state.
He said Kaduna State will continue to encourage both local and foreign investors to make the state their investment destination because all the bottlenecks to the ease of doing business have been removed.
The Deputy Governor thanked and welcomed all participants on behalf of His Excellency, the Executive Governor, Malam Nasir el-Rufai and the people of Kaduna State to the 39th Kaduna International Trade Fair and wished all participants a successful business outing.
In a remark, National President of the Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson said everyone requires action in promoting trade investments in the state.
She urged the state government to continue to support investments in the state’s economy, especially the private sector and the country at large.
The Trade Fair was declared open by President Muhammadu Buhari who was ably represented by the Minister of Trade and Investment, Hon. Okechukwu Enelamah.
Among the highlight of the ceremony was the Kaduna State Cultural troupe which entertained guests at the venue of the trade fair.
