The Nigerian-American Chamber of Commerce (NACC) has rolled out plans to expand its reach in a bid to enhance bilateral trade relationship between Africa’s most populous nation and the United States.
Sheriff Balogun, the newly inaugurated 20th president of the Chamber, whose administration aims to centre on expansion, innovation and influence, revealed this at the 65th Anniversary and Award presentation held in Lagos on Saturday.
“We will expand the reach of the Chamber by establishing new chapters across Nigeria and across the regions in the U.S. We presently have three chapters in the U.S. – Maryland, Atlanta, and Houston.
“These chapters will bring the Chamber closer to businesses, enabling them to participate in opportunities across Africa, and with access to foreign support. We will also focus on building new e-commerce, ensuring our members’ businesses prosper,” Balogun said.
The NACC boss said his administration would launch initiatives and support activities that would unlock access to finance, encourage partnership and promote entrepreneurship.
“We will engage public and private sector stakeholders to attract resources, open new markets, and boost Nigeria’s exports to the U.S,” he said.
The event themed, ‘The power of cooperation: 65 years of optimising Nigerian American economic relationship’ came at a time when the global economic landscape is evolving rapidly with the emergence of escalating tariffs and imminent trade war between the world’s superpowers.
Read also: Nigeria must diversify exports to shield effects of Trump’s tariffs — NACC president
According to Balogun, the current international trade regime, shaped by shifting tariffs, geopolitical uncertainties, and fluctuating investment trends, has deep implications for the world economy, especially Africa, and by extension Nigeria.
He however noted that despite the uncertainties brought by President Donald Trump’s sweeping tariffs, it presents a “valuable opportunity” for Nigeria, urging the government to “seize this moment” and ensure the country is not “left behind.”
“Under my leadership, the Nigerian-American Chamber of Commerce will double down on its mission to facilitate trade and investment between our two nations through high-level dialogue, strategic missions, and stronger engagement with U.S. businesses and government entities”, he added.
Jumoke Oduwole, minister of industry, trade and investment, said the Federal Government remains committed and steadfast in fostering relations with the U.S. despite the “uncertainties, turbulence and economic headwinds”.
The Lagos State governor Babajide Sanwo-Olu, in his address, emphasised how NACC has remained steadfast in its mission to foster mutually beneficial trade, investment and cultural ties between Nigeria and the U.S.
“As a foremost bilateral chamber in Nigeria, NACC has served as a trusted bridge between public and private sectors, catalyzing opportunities, nurturing enterprise and advancing shared prosperity”, Sanwo-Olu said.
Sanwo-Olu, who was represented by Folashade Ambrose-Medem, commissioner for commerce, cooperatives, trade and investment, stated that while Lagos had over the years solidified its status as “Nigeria’s commercial, economic and financial heartbeat and West Africa’s gateway”, the State’s success couldn’t have been achieved alone without the support of NACC.
“Together we have championed initiatives that support trade missions, capacity building workshops and platforms exposing local businesses to global opportunities. We remain committed to nurturing this partnership because economic prosperity is most meaningful when it is inclusive, sustainable and driven by collaboration.”
