They spoke at the Nigerian-British Chamber
of Commerce (NBCC) maiden conference and exhibition with the theme: ‘Fast
Tracking Productivity- Leveraging Technology’ yesterday in Lagos.
The president, NBCC, Mrs Bisi Adeyemi,
stressed the imperative of technology in driving productivity. Adeyemi said
this was reflective of the current realities, propelled by COVID-19 pandemic.
She noted that the maiden conference which
would be biannual, afforded businesses the opportunity to showcase their brands
and foster new partnerships, saying that these businesses would also develop
foreign market opportunities which aligns with our cardinal objectives.
The chief executive officer, First Bank
Limited, Dr Adesola Adeduntan, said that technology had entered an era of
digitalisation where new technologies were powering and providing attractive
basis for business growth, innovation and differentiation.
Adeduntan represented by executive
director, treasury and International banking, First Bank, Mr Ini Ebong, noted
that increasingly, both large and small businesses were leveraging modern
technology to become agile and grow more efficiently.
He added that technology was powering
business development in various ways leading to enhanced business growth and
profitability.
Adeduntan projected that the rise of
frontier technologies promises to further impact and transform the dynamics of
business.
Also, the chief executive officer, Standard
Chartered Bank Nigeria, Mr Lamin Manjang, said the opportunities that had come
with the adoption of digitalisation in the financial sector were enormous.
He said that, following the adoption of
digitalisation, total retail account base grew by 200 per cent in two years and
its revenue base for retail business increased by 300 per cent.
The managing director, Bank of Industry
(BoI), Mr Olukayode Pitan, said that the bank would continue to play its role
in fast tracking productivity through its various funding and advisory
facilities.
Pitan, represented by executive director,
Large Enterprises, Bank of Industry, Mr Simon Aranonu, said that Nigeria, like
many countries around the world, was not immune to the economic headwinds
presented by the COVID-19 pandemic.
This, he said, made it essential for all
non-oil sectors particularly manufacturing to boost productivity, create
employment opportunities, and enable Nigeria be more self sufficient (less
import dependent).
He described the manufacturing sector as
the gateway to industrialisation through substantial forward and backward
linkages with other sectors, providing a wealth of opportunities for suppliers,
distributors and retailers.
He stressed that with the introduction of
the African Continental Free Trade Agreement (AfCFTA), Nigeria must build its
manufacturing sector towards it becoming the manufacturing hub for West Africa
and the rest of Africa.
Pitan revealed that the BoI had
successfully raised about $3.8 billion from the international market in the
last four years with some of the meetings and roadshows held virtually
leveraging on technology.
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