The United States Latino American Chamber of Commerce (USLACC) Africa, has recommended investment promotion to make Nigeria and Africa one of the industrialized hubs of the globe.
The President of the group, Dr Manolo Cevallos, revealed this on Tuesday in Abuja at a one-day African and Foreign Investors Trade Summit (AFRIFITS) for business people and entrepreneurs.
The summit had the theme: “Promotion of African Businesses, Synergy and Match Making Foreign Investors”.
Cevallos, who was represented by Amb. Ifeoma Ejiogu, USLAAC Africa Representative, said AFRIFITS was a creation of USLACC to catalyse Africa’s economic growth.
He said that the major goal was to turn Africa into one of the world’s hubs of industrialisation.
He said this would be made possible by bringing together foreign investors, Africans in Diaspora, African Business luminaries and friends of Africa to invest in the ‘immeasurable rich resources and opportunities’ that abound in the continent.
“AFRIFITS aims at reforming all sectors of the African economy and accelerating continental and international trade and investment.
“This would be achieved by building durable bridges between foreign business persons and potential business owners in Africa.
“This will solve the decades and centuries long myths that inhibit foreign investment in Africa,” he said.
Cevallos said USLACC, a public investment institute with headquarters in Los Angeles, California U.S., has been promoting bilateral foreign direct investments, infrastructural development and international trade between U.S. and other parts of the world.
Nigeria will continue to serve as an African investment destination, according to Foreign Affairs Minister Geofrey Onyeama.
Amb. Bolaji Akinremi, Director of Trade and Economy in the ministry, spoke on behalf of Onyeama, who praised USLACC for its efforts to give industrialization in Africa a fresh face.
On behalf of the ministry, he promised to keep pushing for greater investment cooperation between the continent of Africa and other nations.
In his remarks, University of Abuja Vice-Chancellor Prof. Abdul Na’Allah made a commitment that the institution, as one of the modern universities, was prepared to collaborate with foreign investors to develop the university into a major tourist attraction in Nigeria.
He pleaded with the group to include the institution in its plan of action.
Na’Allah voiced his displeasure over the ongoing strike in the country’s colleges, saying it was sad and unpatriotic of Nigerians to permit the universities to be closed.
The Chief Award Presenter and former Inspector General of Police, Sir Mike Okiro, stated that the security environment in any nation could deter investment.
“People invest where there is security of lives; people fear to invest because of insecurity.
“Insecurity has become a global phenomenon, so the issue is how to manage it,” he said.
Okiro urged Nigerians to cooperate with the government and security forces in the fight against insecurity in the country.
Chief Chukwuemeka Ezeife, the former governor of ancient Anambra, voiced alarm about the amount of corruption in the nation and advocated for a change in mentality in his keynote speech.
Nigeria was meant for greatness, he claimed, and he urged a concerted effort to make it as great as other countries in the globe.
The program is intended to encourage investment and the industrialization of Africa, according to Mr. Uche Egenti, Chairman of the Governing Board of the Nigeria Building and Road Research Institute (NBRRI) and Chairman of the Event.
The program is intended to encourage investment and the industrialization of Africa, according to Mr. Uche Egenti, Chairman of the Governing Board of the Nigeria Building and Road Research Institute (NBRRI) and Chairman of the Event.
He urged Nigerian entrepreneurs to take the initiative and improve the socioeconomic situation of Nigeria and, indirectly, Africa.
“It is time for Africa to be industrialised. Government alone cannot do everything.
“It is time to reason together and develop concepts that would catapult Africa to the world,” Egenti said.
Speaking, Mr Bethran Uzodimma, Chief Executive Officer, Fratello Properties Ltd., and one of award recipients at the programme, expressed gratitude to God for the award.
Uzodimma, on behalf of other recipients, encouraged investors not to lose faith in Nigeria and other African countries with a lot of resources to harvest from and areas to invest in.
“There are great potential in Africa; there is the confidence that Africa would develop as other continents because she has what it takes to be great,” he said.
Presenting the award to Uzodimma, USLACC said Uzodimma was given the award for his philanthropic acts.
Some of the gestures were building houses for the downtrodden and financing the education of children in his community and beyond.
“Earlier, Mr Daniel Ibrahim, ICT Lead, USLACC Africa, in his review of AFRIFITS said that Africa was on the road to a better tomorrow.
He said the programme was to deliberate on how to improve on the economy of Africa.
According to Ibrahim, the organisation is also in Kenya, Uganda, Togo and Ghana to foster relationships with small and medium enterprises and connect them to the rest of the world.
He said the objectives were for wealth and value creation and business development opportunities enhancement.
