The Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) has decried what it termed the poor state of the national economy and the rising poverty level in the country.
The President of ONICCIMA, Mr Uchenna Apakama, said this in his valedictory address during the chamber’s 29th Annual General Meeting in Onitsha.
Apakama said that a situation where 67.1 per cent of the population live below a dollar per day was worrisome.
According to him, power generation is still a nightmare, adding that electricity tariff is soaring with distribution companies across the country unable to provide customers pre-paid meters.
He said that the current economic recession in the country, coupled other macro-economic challenges, had continued to pose a threat to the Organized Private Sector (OPS).
“The monetary policy rate is still pegged at a higher rate of 14 per cent since July 2016, with lending rate of between 20 per cent and 30 per cent remaining unattractive to the OPS, while the rate of inflation is almost 18 per cent.”
According to him, 130 million Nigerians lack adequate sanitation, with 57 million lacking access to safe drinking water, leading to the death of some 45,000 children annually due to diarrhoea.
“Unemployment rate across the land is threateningly high, hovering at 42.24 per cent in 2016, with thousands of graduates joining the labour market every year.
“Corruption, insecurity and crime, including armed robbery, kidnapping, Boko Haram, and the herdsmen attacks are assuming pervasive with horrendous dimensions now than ever before.”
Apakama, therefore, urged governments at all levels to take proactive measures in order to reduce the high incidence of poverty in the land.
The outgoing president welcomed Federal Government initiative in establishing the ‘Ease of Doing Business Commission’ headed by Acting President Yemi Osinbajo.
He also commended the Central Bank of Nigeria (CBN) for issuing a licence for the establishment of the Development Bank of Nigeria (DBN), saying that it would bring succour to the industrial and other strategic sectors of the economy.
While also lauding the decision to establish the South-East Economic Integration, he urged the governors of the zone to show political will and commitment to the project.
Furthermore, Apakama, whose tenure ends in August, urged the Federal Government to address critical issues such as cases of human rights abuses, lack of equity and justice in appointments and the abuse of political power, among others.
Earlier, Mrs Alaba Lawson, the President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), commended the efforts of ONICCIMA to grow the economy of the country.
Lawson, who was represented by Mr Humphery Ngonadi, urged the Federal Government to involve the OPS in the annual budget preparations and allocations.
She also urged the OPS to identify with the chamber in the South-East, rather than clustering around Abuja and Lagos chambers.
According to her, most of those who made Abuja and Lagos chambers to bubble are mainly from the South-East.
“It is important for ONICCIMA to continue to build upon the achievement of NACCIMA in developing the nation’s economy,” Lawson added.
Also speaking, the state Commissioner for Economic Planning, Mr Mark Okoye, urged ONICCIMA to enlist into the Anambra State government’s three-year development planning process for the state.
Okoye gave an assurance that the state government would continue to support the chamber’s activities and provide adequate security for businesses to thrive.
The Tide correspondent reports that the highlight of the occasion was the presentation of awards to some captains of industry who had distinguished themselves in the various businesses.