The Director General Abuja Chamber of Commerce and Industry, Mr. Agabaidu Jideani has applauded the Minister of Industry, Trade and Investment for setting up the National Trade Intelligence Unit.
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Speaking to stakeholders in Abuja today, Sir Agabaidu Jideani stated that the Trade Intelligence Unit (TIU) is very vital in enhancing effective decision-making and strategic planning both for the government and the business community about international and domestic trade and business.
He highlighted the desirability of the unit, stating that it would provide Market Insight by gathering, analyzing, and disseminating vital information about global markets and local markets, indicating emerging trends, consumer preferences, competitor activities, and legal and regulatory changes. Armed with this information, businesses and policymakers are enabled to make informed decisions.
He stated that such a unit if properly utilized would also help in driving Foreign Direct Investments, promoting economic growth, and enhancing job creation opportunities by providing potential investors with insights into market opportunities, regulatory frameworks, and investment climate assessments.
Mr. Jideani, however, noted that the membership of the coordinating committee needed to be expanded to include the business community and the organized private sector as well as the security and intelligence agencies as vital components of Nigeria’s economic security architecture.
In conclusion, he observed that the unit is indispensable for navigating the complexities of global trade, enhancing competitiveness, and maximizing economic opportunities for Nigeria and that It serves as a strategic asset to empower government and businesses to make informed decisions, mitigate risks, and capitalize on emerging trends in the dynamic world of international commerce, for the benefit of our society.
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