Joe Wenegieme

Name: Joe Wenegieme
Organisation: Abuja Chamber of Commerce, Industry, Mines and Agriculture
Position: Director General

1) What is the purpose of the Abuja Chamber of Commerce, Industry, Mines and Agriculture?

The chamber is a private sector organisation of members comprising of corporate bodies. Our main objective is to promote trade and commerce and to encourage the growth of businesses in the Federal Capital Territory (FCT) and the country at large. We also assist the government in policy formulation and implementation. As the voice of the private sector, we see that government policies do not work against the interest of our members. Apart from that, we provide the network for national and international business development through trade missions and international trade fairs.

2) Why do you think Abuja is an important investment destination?

There are many opportunities in Abuja. Lagos is crowded which makes it difficult for people to establish new enterprises. One can definitely come to Abuja to invest and get huge returns. The infrastructure system in Abuja is very good with a first-class road network and sufficient water supply.

3) Give us some examples of recent investments in Abuja

Abuja is the seat of government and not a business city compared to Lagos, Kano or Port Harcourt. The main business in Abuja is the real estate sector but recently the industrial sector has also begun to emerge. We have some of our members who produce stainless steel and the former minister of the FCT laid the foundation stone of the factory a few months ago. This is going to be a great investment because it is done in partnership with the Koreans.

4) Which sectors do you think have potential for increased business between Abuja and the rest of the world?

I would say the manufacturing sector because we cannot continue importing goods into Nigeria. Abuja also has good potential in the housing sector. The city has many property development companies who all have various housing estates.

5) On a lighter note, what do you like most about living in Abuja?

Abuja is very peaceful with no hassles like Lagos. One can move from one place to the other with no traffic congestion. Business opportunities with huge returns on investment are also present in Abuja.

Visit TradeInvestNigeria every Friday for a new interview with one of Nigeria's leading business personalities.