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Over 100 foreign investors to attend Abuja trade fair in September

Over 100 foreign investors to attend Abuja trade fair in September

Over 100 foreign exhibitors and potential investors are expected at the Abuja International Trade Fair (AITF) which is aimed at promoting local consumption and export of Nigerian made products.

The Abuja Chamber of Commerce and Industry (ACCI) on Wednesday announced that the 17th Fair is scheduled to be held between 30th September to 9th October, 2022. President Muhammadu Buhari is also expected at the fair which will bring together various aspects of trade and industry, foreign ambassadors, business persons, decision-makers, business delegations, entrepreneurs, and innovators.

Al-Mujtab Abubakar, ACCI president speaking in Abuja said the fair is geared at strengthening trade and investment opportunities in the country, thus, offering a neutral and open atmosphere for blue-chip companies, trade groups/associations, and government.

The president who was represented by Johnson Anene, ACCI vice president, Mines and Chairman National Chamber of Commerce Trade Centre (NCCTC) said over 150 local exhibitors have indicated interest to attend the Fair, which he said has served Nigeria as a trusted global trade destination and a potential market for over 50,000 consumers.

He informed that the focus of the 17th AITF is on exports hence the theme, “Creating an Export Ready Market Through Small and Medium Enterprises (SMEs)digitization”.

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According to him, digitization offers a range of opportunities for SMEs to improve performance, spur innovation, enhance productivity and compete on a more even footing with larger firms, reflecting: economies of scale; lower operation and transaction costs; and reduced information asymmetries.

“Digital tools bring many significant benefits for firms as digitalization reduces transaction costs by providing better and quicker access to information, and communication between businesses, suppliers and networks,” he said.

“Over the past decade, the emergence of increasingly powerful digital technologies and digital infrastructures have transformed and continue to transform business processes, organizations, and corporate culture with new innovation processes, marketing models, and types of products/services. It is fast becoming an increasingly central issue for companies, the reason for the theme for this year’s focus: creating an export ready market for SMEs,” the president added.

“The fair is always the right place to meet the right people that will help in taking businesses to the next level.
The opening ceremony for this mega business fair would take place on the 4th of October 2022,” he further said.

Mohammed Bello minister of the Federal Capital Territory (FCT) who was represented by Agboola Dabri, Secretary Economic Planning, Revenue Generation & PPP for FCT Administration, noted that the Fair would be an opportunity to boost the internally generated revenue of the nation’s capital while noting that government revenue is dwindling.

The minister said the fair will also present an opportunity to showcase that the FCT is safe for businesses. He assured that major security threats in the city and citizens will be safer.