By KATO P. LADAN, Kaduna
In view of prevailing economic condition the world over, President Muhammadu Buhari has charged Nigerians to tighten their belts and slug it through international trade.
He expressed this, during the opening ceremony of the 39th Edition of Kaduna International Trade Fair, held in Kaduna.
He noted that “We must therefore gird our loins to face the challenges of global trade through adhering to best practices.”
Buhari explained that Nigeria’s economy is influenced by both external and internal factors like any other country operating within the present global setting.
Represented by the Honourable Minister of Industry, Trade and Investments, Ekechukwu Enelama, he stressed that 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.
The President noted that with the advent of information and communication technology, transaction that took days and months to consummate before, now take mere seconds.
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.
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.