SPEECHES

Consul General Brian L. Browne

Official Launching of Cisco Systems in Nigeria

L'eko Meridian Hotel, Victoria Island, Lagos
April 11, 2006
1400 Hours

Honorable Minister of Communications represented by the Permanent Secretary, Executive Vice-Chairman of the Nigerian Communications Commission, distinguished ladies and gentlemen, all protocols observed.

The official launching of Cisco Systems in Nigeria is an important event not only for Cisco Systems and its current and future customers in Nigeria, but for Nigeria itself.

The introduction of Cisco into Nigeria is an important indication that Nigeria is a market that is increasingly attractive to the eye of international investors and businesses.

Heretofore, we have always talked in the parlance of Nigeria's potential. As we witness the presence of Cisco and as other international businesses also put down stakes here, we can see that Nigeria's potential is becoming its reality.

Cisco's presence here today would not have occurred but also for changes in the way international firms perceive how Nigeria would welcome them.
Thus, this launching symbolizes that a door which, in the past, has traditionally been hard to budge is now increasingly open to bona-fide members of the international business community who want to bring world-class products and services to Nigeria.

Cisco is an important U.S. company with operations in 77 countries. I'm delighted that Nigeria has been added to that roster. It is only fitting that Cisco increase their interest in Nigeria, West Africa's largest market for quality U.S. goods and services.

This is a strategic move for Cisco. Not only does this give it a presence in Nigeria, I am sure Cisco will use Nigeria as a springboard to greater business activity in the entire West Africa sub-region. I predict other companies will also follow the path which Cisco now has found it prudent to tread.

Truly, this event today is indicative of the positive commercial opportunities that are coming of age in Nigeria.

Let us not be satisfied with the progress made thus far. The journey is far from complete. We need to maintain and accelerate the process of economic reform in Nigeria in order to attract more leading American companies to the Nigerian market.

The presence of American firms like Cisco will not only help that firm. It will also bolster the performance of the Nigerian economy. This, in turn, will bolster the confidence that Nigerians as well as foreigners have in the national economy and its future trajectory.

It is essential that economic reform continue. For, despite the growing number of international companies into Nigeria, there are still greater numbers that want to come, but are dissuaded by a still rugged, uncertain playing field.

The reality is that both domestic and outside investment in Nigeria have traditionally been hampered by an inefficient legal system where observance of the rule of law and sanctity of contracts has been uneven, hampered by poor physical infrastructure and yes, hampered by myriad bureaucratic and regulatory irregularities, inefficiencies and at times, improprieties.

Confronted by such an environment, even a hardy investor may seek a less tumultuous climate in which to park his capital.

This has been the image of Nigeria and this had put a chilling effect on investment. The good news today is that Nigeria is gradually fighting the perception that it is a difficult gauntlet for investors. As that perception changes, Nigeria will be welcoming more Cisco's, and we shall enjoy more events like this one.
Cisco's core technology is routers and switches. The bread and butter of internet technology.

Cisco has chosen to focus on Nigeria, to help build the country's computer technology and communications infrastructure.

In doing so, the public and private sectors will have greater access to the world-class communications network and customer support services for which American corporations are so well known.

Cisco is a global leader in helping individuals, businesses, and nations connect and communicate with each other, secure data information, and build efficient, affordable networks.

Information technology and communication are key to economic growth in the 21st century. Those companies and nations that master the flow of information so that the velocity and volume of business transactions are maximized will be the champions of this era.

Those that remained mired in the modes of the past will be relegated to speaking of prosperity in the past tense. Cisco understands this double-edged reality. That is why it is important for companies like Cisco to be in Nigeria.

Cisco understands that being a world-class American company comes with its share of expectations and responsibilities. One of those responsibilities is corporate governance and accountability. Accountability not only to its shareholders and business partners, but also to the local communities.

Poverty and unemployment in Nigeria are serious concerns. The United Nations Development Program's Human Development Index ranked Nigeria 158 out of a total of 177 countries in 2005. They based those rankings by looking at average life expectancy, literacy rates, and per capita GDP. In all of these areas, Nigeria has not yet seen the improvements it expects and needs. Thus, we must continue working hard.

USAID, our Foreign Agricultural Service, Commercial Service and Economic teams continue to work closely with the private and public sector to support poverty reduction programs as well as support business ventures that create wealth and employment. We are delighted we can count on Cisco as another ally in the battle to spread economic empowerment and to beat back poverty.

Education will be an important tool in this effort. Here, Cisco promises to lend an essential helping hand.

Cisco's Networking Academy Program is dedicated to providing select students with the resources needed to design, build, and maintain computer networks. The Academies help students acquire the necessary skills for IT-related jobs and for higher education in engineering, computer science, and related fields. I am delighted the Academy program is expanding to Nigeria, where many students have the will, but have not had the means to gain technical expertise.
As I conclude, let me reiterate that, given a positive business climate, foreign investors, including Americans, will be encouraged to invest. If the business opportunity is here, investors will come.

Nigeria can count on the continuing support of the U.S. diplomatic mission to making that goal a reality. We are steadfastly working to encourage more U.S. firms to consider Nigeria in their plans for the future.

I commend Cisco Systems for their commitment to making Nigeria their newest home. Both Cisco and Nigeria, will profit for years to come from this new relationship.

Thank you again for the opportunity to join you this afternoon. Once again, please join me in congratulating Cisco Systems on the occasion of their official launch.

 

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