The Abuja Chamber of Commerce and Industry (ACCI) says the private sector is the engine of economic opportunities.

ACCI president Emeka Obegolu said this during his inauguration dinner as the 12th president in Abuja.

Mr Obegolu, who said he assumed leadership when Nigeria faced enormous challenges, expressed confidence that the private sector would rise to alleviate some of these challenges.

He commended steps being made by the federal government to remove subsidy, the unification of the foreign exchange market and the student loan programme, among others.

Mr Obegolu said, “While these measures may have initially tested our resilience, we believe they will, with time, yield the desired results. We can only urge the government to deepen the collaboration with the private sector, represented by the chamber of commerce.

“A partnership that has the potential to significantly benefit the business community, the society, and the national economy. We must never forget that the private sector is the engine of economic opportunity; small businesses flourish and can provide good jobs when the government acts as a productive partner.’’

According to Mr Obegolu, the ACCI has fostered economic growth, entrepreneurship, and innovation in Nigeria through its initiatives and entities.

He said the chamber had consistently demonstrated its commitment to driving sustainable development and empowering businesses across diverse sectors.

On security in the country, Mr Obegolu said the ACCI would collaborate with the defence and national security leadership to institute an annual summit on security, defence and business.

The ACCI president said this would review and proffer solutions to the challenges facing us as a nation and foster confidence and assurance that Nigeria was a safe destination for investment.

Mr Obegolu said his administration would prioritise collaboration with the government, non-state stakeholders and capacity building within the ACCI team.

He said this would enhance management processes for improved efficiency and productivity.

The ACCI president added, “Ongoing projects initiated by the previous administration will be completed within a stipulated timeframe. We aspire to maximise the investment potential of ACCI assets, adding world-class projects to our distinguished records.

“To strengthen our various departments, financial self-reliance will be promoted, and necessary support provided to achieve their mandates. Collaboration with the National Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) will be intensified, giving the chamber a national outlook to better serve our members.”

He added that as ACCI president, he would do “my best to discharge my duties and undertake to respect judgments and advice by council members and EXCO.”

In his goodwill message, deputy speaker of the House of Representatives, Benjamin Kalu, charged the chamber to develop programmes that would include youths and women in the society.

Mr Kalu stated, “I charge ACCI to draw up programmes that will inspire these set of people so they can contribute to the social and economic development and growth of the society.

“ACCI should also prioritise initiatives that promote and empower our youth and women who are the key drivers of the future economy. For those outside Abuja, it should draw up programmes that will include these young ones, who are agitating for one thing or the other.”

Mr Kalu then urged all the chambers of commerce in the South-East to make programmes that will teach our youths the best ways of developing themselves and impacting society positively.

(NAN)