The Venture Capital Advocacy Summit, the first of its kind in Nigeria that will bring together all the critical elements that could facilitate the entrenchment of the Venture Capital Culture in the country will hold between 28th and 30th June, 2016 at the Eko Hotel, Victoria Island, Lagos.
The Summit being organised by Alfe City Company Limited with the support of the Senate Committee on Trade & Investment and the House Committee on Commerce will feature the maiden introduction of the concept of venture capital and provide an opportunity for interaction with international experts and seasoned investors.
According to Soji Adeleye, Chief Executive Officer, Alfe City Company Limited, the organisers, “To say that Nigeria needs a thorough re-engineering at the moment would be an understatement. The total collapse of the crude oil sector in recent months is a reminder if we need one that the over-reliance on that sector was short-sighted in the extreme.
Investment in the people on the other hand is the only risk free investment as they will always be there hence organic growth of the people’s sector – the private sector provides an insurance for the future. The bottom-up growth –invention, innovation, imagination, creativity; attributes Nigerians are renowned for.
“Venture Capitalism offers Nigeria and its universally acclaimed entrepreneurial people a new vehicle that could turn that creativity into economic power.”
He said the endorsement of the summit by the National Assembly was crucial as the entrenchment of the Venture Capital culture in Nigeria would require legislative underpinning to guarantee the safety of investment of investors.
In the Senate endorsement of the summit, Senator Fatimat Raji Rasaki, Chairman Senate Committee on Trade and Investment said, “We share the principle and objectives behind this very laudable program and commend it to all stakeholders across the country.
“We hereby convey our commitment to work with you and other stakeholders for the success of the summit and subsequently perform our legislative responsibility to ensure a successful entrenchment of venture capitalism culture in Nigeria.”
Similarly, the Chairman, House of Representatives Committee on Commerce, Rt Hon Sylvester Ogbaga said the committee considered the summit’s objectives as very laudable.
“I wish to therefore convey the decision of the committee to collaborate with Alfe City Company Limited in that regard,” he said.
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