NACC leadership vows to deepen US-Nigeria trade relations

• Published On: 19 April 2025 at 19:21

The newly appointed leadership of the Nigerian-American Chamber of Commerce has committed to expand economic connections between Nigeria and the United States, with a renewed emphasis on trade facilitation, innovation, and growth.

Sheriff Balogun, speaking in Lagos during his inauguration as the NACC's 20th President, pledged to increase engagement between the two nations' business groups. The event commemorated the chamber's 65th anniversary.

"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 US businesses and government entities," says Balogun. "We will forge deeper and more impactful commercial ties."

Balogun outlined his vision, emphasising the significance of adaptive methods in response to global economic shifts, citing recent developments like as former US President Donald Trump's tariff suspension and rising trade tensions with China.

"The current international trade environment, formed by rising tariffs, geopolitical uncertainty, and variable investment trends, has far-reaching consequences for the global economy. "Nigeria is not immune to these developments," he explained. "These dynamics inevitably affect our trade relationships with the United States and require proactive engagement."

Balogun viewed the changing global trade environment as a window of opportunity for Nigeria. "We must ensure that Nigeria is not left behind; we must seize this moment with clarity and courage," he stated, describing his strategic priorities as expansion, innovation, and impact.

To that purpose, the NACC intends to launch new chapters in Nigeria and select US locations, bringing the chamber closer to businesses and increasing access to international prospects. He also announced intentions to promote e-commerce and support Micro, Small, and Medium Enterprises (MSMEs) by facilitating financing, fostering collaboration, and increasing Nigerian exports to the United States.

"We will engage public and private sector stakeholders to attract resources, open new markets, and ensure our members' businesses thrive," according to Balogun.

As part of its infrastructural initiative, the chamber is approaching completion of its permanent headquarters in Lagos. Col. Sani Bello (rtd), a former Kano State Governor and businessman, has a floor in the building named after him. Balogun described the tower as "not merely a structure, but a symbol of our ambition, resilience, and enduring legacy."

The inauguration also included the induction of new members and the presenting of awards to prominent Nigerian and American citizens for their contributions to the chamber's goals.

Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, was among the honourees, reaffirming her ministry's commitment to strengthening ties with NACC.

Samaila Zubairu, Chairman of the Inauguration Ceremony and President/CEO of the Africa Finance Corporation, urged members of the Nigerian-American business community to work together more closely to expand economic prospects.