:::Technology Times Newspaper

By Omolara Beyioku

Lagos. September 8, 2008. The U.S. today urged the Nigerian government to refocus its dependence on oil and explore opportunities opened to diversify into the information and communications technology (ICT) and other sectors to ensure the nation’s sustainable economic development.

Commercial Counsellor, U.S. Commercial Service, Larry Farris made the call today at the International Partners Forum and Awards Ceremony held at the MUSON Centre, Lagos where one of Nigeria’s frontline IT companies, Computer Warehouse Group (CWG) was among the 10 businesses honoured at the event.

According to the U.S. Commercial Service, the 10 companies have done in excess of $320 million in businesses transactions with their US counterparts between 2006 and the year and deepened economic ties between the two nations.

According to Farris, trade between U.S. and Nigeria peaked at $35 billion last year with the latter emerging 20th position among America’s trade partners.

He adds that the U.S. imports from Nigeria has been mainly oil while underscoring that increasing activities have also been noticed in ICT, energy, infrastructure development, franchising, among other sectors of the domestic economy.

While underscoring the need for economic planners in Nigeria to refocus attention on developing new areas of economic opportunities beyond oil to export to the U.S., he adds that the U.S. Commercial Service in Nigeria has recorded growing interest in the Nigerian economy by U.S. businesses.

To sustain the momentum, diversification of the economy from its near total dependence on oil is important, he says while commending the significant strides made in banking consolidation, the fast-growth telecoms market and “the African magic” driven by the nation’s vibrant movie industry, Nollywood.

According to him, recent slowdown in the U.S. economy has seen American companies, “going abroad and many of them are looking at Nigeria for the first time.”

Towards addressing issues faced by U.S. businesses face in getting adequate and verifiable information, the U.S. Commercial Service, he adds created the Networking with the USA (NUSA) programme unique to Nigeria for forging increased ties between businesses in the two countries.

With membership over 3000 businesses, NUSA today provides information about Nigerian member businesses to ensure they can easily connect with their U.S. counterparts in business relationships, adds Commercial Specialist, U.S. Commercial Service, Anayo Agu.

Also, some of the NUSA members honoured for driving increased U.S. presence and market share in Nigeria and increased business relationships between the two countries include Japaul Oil& Maritime services, Oilserve Limited, Titan Project Nig. Limited and DANA Airways Limited. Others include Airline Management Support Limited, Harris Stratex, Motorola Nigeria, Computer Warehouse Group and Karflex Fisheries Limited.

Three technology companies, Harris Stratex, Motorola Nigeria and Computer Warehouse Group are the ICT also featured on the list.

According to a citation delivered by Agu, Nigeria’s frontline technology company, Computer Warehouse Group (CWG) and the U.S. Commercial Service have forged an alliance dating back over a decade.

Group Managing Director, CWG, Austin Okere, is one of the U.S. Commercial Service’s “most consistent industry and resource persons”, says Agu noting that the company works with and represents a number of U.S. companies including Dell, Comm Scope, Cisco Systems, Harris Stratex and Data group.

CWG’s total imports from its US strategic alliances from 2007 to 2008 were valued at more than $30 million.

On the other hand, Harris Stratex Networks entered Nigeria and established a market presence at a time most U.S. firms were not willing to explore trade and investment opportunity in the Nigerian telecoms market due to lack of reliable market intelligence. It is ranked as one of the largest independent supplier of wireless transmission systems in the world.

On the other hand, Motorola Nigeria was honoured as it has remained committed to commercial innovations and support of Nigeria-America trade since the late 90s.

Before the auction of licence for cellular mobile telephony in Nigeria in 2001, Motorola Inc. had pioneered the introduction of fixed wireless telephony through Intercellular Nigeria, adds Agu.