The Conference
The 4th edition of the Conference of the Nigeria Trae Associations (CONiTA) was held virtually on the 24th November, 2022, it started-off at 10:00am. The Conference of Nigeria Trade Associations is said to be a foremost multi-interface seeking to influence diverse trade associations to evolve sustainability models and to harness their common potentials in drive enabling policies and recommendations for inclusive growth, good governance and shared prosperity encompassing sustainable development goals and the Africa Agenda 2063.
While the Conference had in attendance diverse professionals and tradesmen, speakers took turn to present their papers and feeding questions as they come. Mr. Nelson Obine, convener of the Conference made a presentation on the impression of the African Continental Free Trade Area (AfCFTA) agreement awareness and leadership of the organized private sectors across trade associations and their members as it relates to the theme of the Conference: The Place of Small and Micro Enterprise for Inclusive Growth and Sustainable Development in Africa; Mr. Obine, paper assessed the report of the survey of 1,804 MSME by the Centre for the Study of the Economies of Africa (CSEA) across Nigeria in four sectors viz agriculture, manufacturing, services, and wholesale/retail to ascertain the degree of small and micro enterprises in the place of inclusive economic growth with cognizance to the awareness of the AfCFTA opportunities and benefits. However, the outcome showed a disengagement with the leadership and members of the various trade associations in Nigeria. Going by size in classification of enterprises in Nigeria; 73% of the small and micro enterprises could not attest to the awareness of the AfCTA while only 33% of the medium size entrepreneurs attest to the awareness. The data before us portrays a lacuna yearning for inclusive economic growth across economic agents, trade associations and chambers of commerce that made up the organize private sector (OPS) such as Manufacturers Association of Nigeria (MAN), Nigeria Employers Consultative Association (NECA), Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Nigeria Association of Small Scale Industries (NASSI), Nigeria Association of Small and Medium Enterprises (NASME) that participated in the Research. He urged the leadership of the organized private sector, the leadership of AfCFTA and the government to embark on mass awareness on the concepts and benefits of the AFCTA in Nigeria and in Africa in general.
Mr. Tony Peters, a guest speaker encouraged small business to consider the importance of book keeping and accounting. He suggested a model where trade associations can organize and deploy accounting services to members at a minimum rate periodically. Do other documentations as and when due, tax payment, filling of documents and adherence to regulations. Mr. Tony further proposed that trade associations should organize themself in such a way that can be credible to enable them access loan from finance institutions. Small businesses looking to expand their businesses can come together as a group and liaise with leadership of their respective trade associations to get access to loan facility, institutions such as bank of industry has various kind of loan for small and medium business organizations in Nigeria, he added.