A new date of 2nd- 4th August, 2016 has been announced for the maiden Venture Capital Advocacy Summit at Eko Hotel, Lagos, Nigeria, that will bring together all the critical elements that could facilitate the entrenchment of the venture capital culture in the country.

According to a statement by Alfe City Company Limited, the organisers, the change of date from the initial 28th and 30th June was to allow all stakeholders adequate time to fulfil their obligations and preparation for a successful event.

“All other elements of the Venture Capital Advocacy Summit remain as previously stated,” the statement said.

The Summit with the theme: ‘Venture Capital and Capacity Development of a New Nigeria Economy’ with the support of the Senate Committee on Trade & Investment and the House Committee on Commerce will feature the maiden introduction of the concept of venture capital and provide an opportunity for interaction with international experts and seasoned investors in what would be the first of its kind gathering in Nigeria.

According to Mr Soji Adeleye, Chief Executive Officer, Alfe City Company Limited, the endorsement of the summit by the National Assembly was crucial as the entrenchment of the Venture Capital culture in Nigeria would require legislative underpinning to guarantee the safety of investment of investors.

Senator Fatimat Raji Rasaki, Chairman, Senate Committee on Trade and Investment said: “We share the principle and objectives behind this very laudable programme and commend it to all stakeholders across the country.

“We hereby convey our commitment to work with you and other stakeholders for the success of the summit and subsequently perform our legislative responsibility to ensure a successful entrenchment of venture capitalism culture in Nigeria.”

Similarly, the Chairman, House of Representatives Committee on Commerce, Rt Hon Sylvester Ogbaga said the committee considered the summit’s objectives as very laudable.

“I wish to therefore convey the decision of the committee to collaborate with Alfe City Company Limited in that regard,” he said.

The summit objectives include:

· Advocate and spearhead the culture of venture capitalism in Nigeria;

· Open an avenue for translating Nigerians’ legendry creativity and entrepreneurship to vital economic power;

· Bring all stakeholders together to highlight how venture capital could be the missing link in Nigeria’s struggle to build a diverse and sustainable economy;

· Establish a Register for practicing and prospective venture capital operators in Nigeria;

· Create the machinery for an annual venture capital event as a vehicle for entrenching the culture of venture capitalism in Nigeria.