Nigerian-Hungarian Chamber of Commerce Launches with Promise of Bilateral Prosperity

Mary Nnah

The Nigerian-Hungarian Chamber of Commerce officially took off last Thursday, October 24th, with its inaugural breakfast meeting and induction of new members, marking a significant step towards fostering bilateral economic cooperation between Nigeria and Hungary.

The event, held at the Chamber’s office in Ikoyi, Lagos, followed the grand formal opening of the office in April this year. After months of planning, corporate establishments and individuals registered to tap into the myriad benefits accruable from membership.

The President of the Nigerian-Hungarian Chamber of Commerce, Mr. Spencer Onosode, commended the entrepreneurial spirit of the members for joining the Chamber, describing Hungary as a traditional country with a host of firsts in science and technology. He charged the newly inducted to tap into Hungary’s many essences in education, tourism, the Arts, and Architecture.

“Hungary’s rich history and innovative spirit make it an ideal partner for Nigerian businesses,” Onosode said.
“We encourage our members to explore the vast opportunities available in Hungary and vice versa. Our goal is to create a platform where businesses can thrive and prosper through mutual cooperation, he added.

Business Development Director, Mrs. Izabella Abia-Okon, made a presentation titled ‘Glimpses of Hungary’ which further extolled Hungarian innovations and business opportunities. Mrs. Abia-Okon, herself a Hungarian, highlighted the country’s strengths in various sectors, showcasing its potential for collaboration with Nigerian businesses.

Mr. Banji Akinsola, a new inductee, shared his experiences as a student in Hungary and later as a businessman. His fluent Hungarian language skills and firsthand knowledge of the country’s business environment provided valuable insights to the attendees. Mr. Akinsola’s success story served as a testament to the potential for Nigerian businesses to flourish in Hungary.

Veteran corporate establishments and individuals engaged in bilateral trade with Hungary attended the networking forum, including Mrs. Josephine Peters, CEO of GEC Academy International, who has been involved in Hungarian education institution placements for over three decades. Mrs. Peters shared her expertise in navigating the Hungarian education sector, highlighting opportunities for Nigerian students and institutions.

Ambassador Dr. Modupe Irele, the former Ambassador of Hungary and the Balkan Region emphasised the benefits of Hungary doing business with Nigeria, citing the country’s “virgin” territory status and vast opportunities for sustainable businesses in medicine, pharmacy, agriculture, and innovative technology.

“Members need to look critically at the sustainable businesses from Hungary that can enhance the economic output of enterprise in Nigeria”, Irele advised. “Hungary’s expertise in these sectors can complement Nigeria’s growth strategies, leading to mutual benefits and economic prosperity.”

Thirty new members were inducted into the Chamber, signaling a promising start to the bilateral economic cooperation between Nigeria and Hungary. The Nigerian-Hungarian Chamber of Commerce is poised to facilitate growth and prosperity for businesses in both nations.

As the Chamber continues to grow, it is expected to play a pivotal role in fostering economic cooperation, trade, and investment between Nigeria and Hungary. With its rich cultural heritage and innovative spirit, Hungary offers a unique opportunity for Nigerian businesses to explore new markets and partnerships. The Chamber’s efforts will undoubtedly contribute to the economic development of both countries.

The successful launch of the Nigerian-Hungarian Chamber of Commerce marks the beginning of a new era in bilateral economic cooperation between Nigeria and Hungary. As the Chamber moves forward, it is expected to create a vibrant business community, fostering collaboration, innovation, and prosperity for years.