At a spectacular event in Lagos, the Nigerian-American Chamber of Commerce (NACC) marked its 65th anniversary and inaugurated its 20th president, Sheriff Balogun. The grand ceremony, which attracted leaders from both the public and private sectors, underscored the chamber’s vital role in fostering bilateral economic ties between Nigeria and the U.S..
A Vision for Growth: $10 Billion Trade Target
In his inaugural address, Sheriff Balogun shared his ambitious vision to enhance the trade relationship between the two nations. He set a bold target of surpassing $10 billion in trade volume and unlocking the full potential of Nigerian exports in the coming years. Highlighting the chamber’s 65-year legacy, Balogun affirmed that the NACC has been instrumental in promoting trade, investment, and collaboration, bridging connections between Nigerian entrepreneurs and their American counterparts.
Despite the challenges in international trade, Balogun expressed confidence that under his leadership, the chamber would push for new opportunities and expand trade avenues for Nigerian businesses.
New Leadership and Strategic Expansion
During the event, Balogun introduced his leadership team, which includes the deputy president, vice president, treasurer, and deputy treasurer. Together, they aim to usher in a new era of growth and collaboration. The ceremony also welcomed 52 new members, inducting them into the chamber’s vibrant network of business leaders.
Adding a forward-looking dimension to the event, the NACC revealed a 3D model of its future seven-storey headquarters, symbolizing its commitment to long-term development and strategic expansion in the years ahead.
Celebrating Excellence in Trade and Investment
As part of the anniversary celebrations, the NACC honored both Nigerian and American companies and individuals for their contributions to the economic landscape. The chamber also recognized past presidents for their enduring leadership and invaluable role in driving the organization’s mission.
Government Support for Trade Growth
The event, chaired by Samaila Zubairu, President of the Africa Finance Corporation, was hosted by Governor Babajide Sanwo-Olu of Lagos State, who was represented by Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade, and Investment.
Dr. Jumoke Oduwole, the Federal Minister of Industry, Trade, and Investment, commended the NACC for its continuous efforts to foster trade and investment opportunities between Nigeria and the U.S. She also charged Balogun to intensify efforts to improve trade relations, expand Foreign Direct Investment (FDI), and create more business-to-business (B2B) opportunities for Nigerian businesses.
This event not only celebrated the rich history of the NACC but also set the stage for a future where Nigeria-U.S. trade relations are stronger, more diversified, and more beneficial to businesses on both sides.
