Revitalise Nigeria Business and Investment Summit organised and hosted by Nigeria Magazine Ltd, 31st May 2013 at Thistle Marble Arch, London.
The Summit was well attended with over 120 delegates and a number of speakers and panellists. The summit was opened by the Chairman of Nigeria Magazine, Mr Kede Aihie, who informed the gathering that the idea at the core of Revitalise Nigeria Business and Investment Summit is to create a platform where businesses and stakeholders discuss business opportunities in Nigeria.
Nigerian High Commissioner to the United Kingdom, Dr Dalhatu Tafida, represented by Mrs Beatrice Danladi commended Nigeria Magazine for organising the Revitalise Summit and that the summit was timely and in line with Nigeria’s resolve to transform trade and investment. She encouraged investors including Nigerians in the diaspora to seize the available opportunity and invest in Nigeria.
Gerald Venzl, a Principal Sales Consultant with Oracle UK, gave a presentation titled Big Data: What is the Buzz About? He stated that big data enabled enterprise and that Oracle sees great potential in Nigeria. He explained about big data in volume, velocity and variety using case studies from different industries.
Bola Akindele, CEO Courteville Business Solutions PLC also commended Nigeria Magazine on initiating a summit of this nature and that he was happy to have been a sponsor for this event which showed Nigeria in a positive light. Mr Akindele stated that Nigeria had a good business environment which encouraged which was attractive to foreign investment.
The guest speaker, Clive Carpenter, Vice Chairman of Business Council for Africa told the audience that Nigeria was Africa’s greatest opportunity and that by 2050, Nigeria will be the 6th. largest populated country in the world with estimated population of 287 million (14% of the whole African Continent).
Mr Carpenter also said that the GDP growth remains circa 7% but double digit growth needed and that Agriculture is adding to GDP growth.
He further added that Lagos State alone was the fourth largest economy on the African Continent, he said growth areas include agriculture, mining, construction (worth $2.87 billion in 2010), professional development (training), retail, healthcare, insurance and telecoms.
Semhar Hebtezion, UKTI International Trade Adviser made a presentation on Market Entry Strategies in Emerging Markets highlighting changing trade trends in rapid growth markets which whilst offering great opportunities also carried great challenges. She stressed the need for capitalisation of ICT and for UK SMEs to take full advantage of UKTI advice and services to help fill the knowledge gap.
Business and Investment Opportunities in ICT was discussed by panelists chaired by Esosa Aihie, Tony Ojobo (NCC), Semhar Hebtezion (UKTI), Leo Adekoya (Crown Agents), Bola Akindele (Courteville Business Solutions Plc) and Gerald Venzl (Oracle). ICT was seen as a huge growth sector given the record growth of the telecoms industry, the proportion of the unbanked populace, the rising middle class and the impact of the government’s transformation programme across different sectors.
The keynote speech was delivered by Tony Ojobo, Director of Public Affairs, Nigerian Communications Commission (NCC) on behalf of Eugene Juwah, Executive Vice Chairman of (NCC). He spoke on Broadband investment opportunities in Nigeria. He disclosed that President Goodluck Jonathan pledged that his administration will take immediate steps to fully implement the report of the Presidential Committee on a National Broadband Strategy and Roadmap.
Mr Ojobo gave an insight on NCC’s strategy for Broadband Infrastructure Deployment. Three industry structure models were considered, the Equal Access Model, the Utility Model and the Passive Infrastructure Model. He said mapping of the country into regional license areas was on going and concluded by saying that investors are welcome to take advantage of broadband investment opportunities in Nigeria.
Mr Chidi Umeano, principal consultant Codub Consulting spoke on Infrastructural Development in Emerging Markets. He stated that adequate infrastructure, productivity growth and increasing competitiveness are higher in countries with an adequate supply of infrastructure services. Infrastructure therefore plays a critical role in enhancing a country’s competitiveness and in easing the cost of doing business. He concluded by saying “without efficient and well maintained Infrastructure, Nigeria’s current growth cannot be sustained’.
Dr Gbadebo Ogunlami presented a paper on the Petroleum Industry Bill (PIB). His view was that the Nigeria National Petroleum Corporation (NNPC) should be commercialised rather than be broken up. He stressed that the way forward should be better policy, measurement of Nigeria’s crude oil, transparency, accountability and corporate governance.
Business opportunities in oil and gas, banking and the power sectors were also discussed by panellists, chaired by Kede Aihie (Co-Chair Nigeria magazine), Samir Gadio (Standard Bank), Sam Dimka (Chairman of Ritecom Communications), Darlinghton Omoruyi (Institutional Investor) and Dr Gbadebo Ogunlami.
A third panel discussed the role of women in business chaired by Sam Onigbanjo, Esosa Aihie, Jenny Adeleke, Editor of Luxury Magazine and Richard Blake-Thomas.
The summit provided a good networking opportunity for speakers, panellists and delegates and feedback from attendees were very positive and highlighted the need to collaborate and synergise efforts in order to achieve real and sustainable business and investment growth.
Summit Presentations available at our website; www.nigeria-magazine.com
Summit Presentation – Revitalise Nigeria Business and Investment Summit – 31st May 2013 @ thistle Hotel Marble Arch, London