Event Recap: The Nigeria-Netherlands Business Hub’s Breakfast Round Table
On September 12, 2024, the Nigerian-Netherlands Business Hub held its inaugural breakfast Round Table at the Four Points by Sheraton Hotel in Lagos.
The NABC Nigeria‘s Breakfast Round Table gathered investors and key stakeholders to discuss enhancing trade relationships between Nigeria and the Netherlands, marking a significant step toward stronger economic collaboration.
The trade relationship between Nigeria and the Netherlands is not new; it has a rich history characterised by the presence of renowned Dutch brands such as Heineken, Friesland Campina, East-West Seed, Vlisco, and many more in the Nigerian market. While these multinationals have thrived, there is a growing interest from micro, small, and medium enterprises (MSMEs) and Dutch businesses aiming to tap into Nigeria’s vast economic potential, particularly focusing on sustainability and green industrialisation.
Agriculture, a cornerstone of Nigeria’s economy, contributes 24% to the GDP and employs 35% of the workforce. The Netherlands has made notable strides in various sectors in Nigeria, including agribusiness, water management, renewable energy, and healthcare. This Round Table highlighted the synergies between the private sectors of both nations, setting the stage for future collaborations.
Insights from Keynote Speakers
Moderated by Mr. Kabir Ademoh, NABC Nigeria’s Country Lead, the event featured a keynote address from His Excellency Mr. Peter Keulers, the new Deputy Consul General at the Consulate of the Kingdom of the Netherlands. His speech, titled “The Role of Sustainable Trade and Investment in Solving Global Challenges”, underscored the importance of multi-stakeholder partnerships in achieving sustainable development goals.
His Excellency elaborated on the Dutch Diamond approach, which combines efforts from government, private sector, civil society, and knowledge institutions. This collaborative spirit is evident in various Dutch-backed initiatives aimed at enhancing food security and agribusiness productivity, such as the Collaborative Seed Project and HortiNigeria.
Facilitating Access to Financial Networks
Ms. Nene Barry, Business Developer and Dutch Desk Officer at Invest International/Access Bank, provided insights on “Facilitating Access to Local Financial Networks for Dutch Investors”. She emphasised Invest International’s commitment to financing businesses with Dutch links that demonstrate strong economic potential. The partnership between Access Bank and Invest International is vital, as they provide business development loans and grants that support Dutch-Nigerian trade initiatives, all while focusing on sustainability and green energy.
Improving the Business Environment
A standout moment from the Round Table was the presentation by Ms. Hussaina Abdulkadir, Reform Leader at the Presidential Enabling Business Environment Council of Nigeria. She detailed the “2024 Half-Year Transparency and Efficiency Compliance Report”, which provides valuable insights into the business environment for investors. The report highlights the Nigerian government’s commitment to improving policy accountability, resolving service-related challenges, and streamlining business processes.
PEBEC has implemented over 180 reforms aimed at simplifying the business landscape, including automating processes at the Corporate Affairs Commission and improving the visa-on-arrival system. Their collaborative efforts with various sectors aim to eradicate bureaucratic constraints and enhance the ease of doing business in Nigeria.
The Round Table concluded with a lively networking session, allowing participants to exchange ideas and forge new connections. Key topics of discussion included:
- The challenges posed by regulatory duplications, particularly regarding NAFDAC’s export regulations
- Growing interest from Nigerian investors in establishing businesses in the Netherlands
- The critical role of financial institutions in facilitating trade
- Ongoing efforts to improve Nigeria’s business environment
- Policy bottlenecks impacting business development
- Corporate Social Responsibility (CSR) initiatives among members of the hub
The inaugural Breakfast Round Table underscored NABC’s commitment to optimising the activities of its members operating in Africa’s largest economy. It also aimed to create new partnerships between Nigerian and Dutch businesses, showcasing opportunities for future trade and investment that contribute to a sustainable world.
Are you interested in exploring business opportunities in Nigeria or the Netherlands? Looking for local partners in either country? Contact the NABC’s Nigeria-Netherlands Business Hub to connect with a vibrant network of professionals and companies eager to collaborate and innovate. Together, we can foster stronger economic ties and create a sustainable future.