Concerned by the adverse effects of macroeconomic challenges, including COVID- 19, the Lagos Chamber of Commerce and Industry (LCCI) has reassured of its determination to dedicate resources and energy to consistently promote and protect private enterprise development, commercial and industry activities to foster global competitiveness of Nigerian economy. The President of LCCI, Dr. Michael Olawale-Cole, gave this assurance in his opening remarks during the Chamber’s members’ induction ceremony held in Lagos recently. He said that the goal of the Lagos Chamber was encapsulated in its mission, which is “to promote and protect the interest of its members and the business community at large through public policy advocacy, creation and facilitation of commercial and industrial opportunities, provision of business development service and observance of highest standard of business ethics.’’ According to him, COVID-19 and other economic crises in the country have shown that there is need for innovation and new models for organisations and institutions to meet emerging needs and expectations. Olawale-Cole explained: “The pandemic and the economic crisis that came with it underscore the need for innovation and new models for organisations and institutions to meet the emerging needs and expectations. “As innovative and dynamic institution, the crisis gave us the fillip to re-evaluate our operation model, rejig our processes and procedures and broaden our scope of services and policy advocacy initiatives and programmes to be able to adequately support the development of the business community and the economy in general.
“Distinguished ladies and gentlemen, the challenges created by COVID-19 portend new opportunities that we must never allow to waste away. “As the economic activities gather momentum across the world, it is imperative for businesses to seek out and seize the opportunities emerging in the global recovery. “This involves diagnosis of actions taken, data, trend and insights on lessons learned from the pandemic, and then using the outcomes to prioritise strategic measures to enhance business operation and build strategic resilience for future.” While speaking further on the Chamber’s vision for its creation, the LCCI president stated: “I hope you are very elated to be welcomed into the oldest and foremost chamber of commerce and industry in the entire West Africa sub-region. “As you may already know, the Lagos Chamber of Commerce & Industry, was founded in 1888 and incorporated in the year 1950 as a non-profit making organization, Limited by Guarantee under the Companies Act of 1948.
“For over 13 decades, LCCI has remained the leading voice of the private sector through its sustained public policy advocacy, stakeholders’ engagement and trade promotion activities. He noted: “The efforts and sacrifice of LCCI’s visioners, founding fathers and successive leadership to give us an institution we are all proud to be associated with cannot be overemphasised. “They laboured passionately and unconditionally to preserve the cherished legacy of impeccable, impartial, and faithful service to all. Their commitment to actualisation of the mission and strategic goal is the backbone of the Lagos Chamber’s progress and growing popularity in Nigeria and across the world.” In addition, Olawale-Cole added: “I make bold to inform you that the LCCI is the only chamber of commerce in Nigeria that is appointed to the General Council of World Chambers Federation (WCF) to reaffirm the Lagos Chamber’s relevance in the international chamber movement.” The LCCI president, however, stressed that the Lagos Chamber had been reinforced to continue to consistently provide services that meet the needs and expectations of our valued customers and esteemed stakeholders to catalyse private enterprises and organisations to achieve full potentials in terms of sustainable growth and global competitiveness. His words: “Distinguished ladies and gentlemen, it is therefore expedient for us to position our organisations to benefit optimally from the specially designed initiatives and programmes of the Chamber. I am confident that with your active participation in the activities of the Chamber, your businesses will derive tremendous benefits.”