Alhaji Sheriff Balogun delivers his President’s speech at the NACC 65th Annual General Meeting, Radisson Blu Anchorage Hotel, Lagos
The Nigerian American Chamber of Commerce, under the leadership of Alhaji Sheriff Balogun, National President and Chairman of its Board of Directors, held its 65th Annual General Meeting on Thursday, 2 July 2026, at Apapa Hall, Radisson Blu Anchorage Hotel, 1A Ozumba Mbadiwe Avenue, Victoria Island, Lagos. The gathering recorded one of the Chamber’s strongest member turnouts in recent memory.
Balogun, now in the second year of his presidency, opened his address with visible gratitude. “That this Chamber has stood for sixty five unbroken years as the foremost bridge between Nigerian enterprise and American capital is no small achievement,” he told members, describing it as a testament to the vision of the Chamber’s founders and the loyalty of the membership gathered before him.
His remarks turned quickly to the state of the economy the Chamber exists to serve. The Nigerian economy, he noted, held a moderate but steady growth pace of approximately four percent in 2025, driven largely by the services sector, particularly information technology, finance and real estate, alongside encouraging gains in agriculture and construction.
Inflation, though still weighing heavily on households, eased meaningfully from over thirty three percent in 2024 to twenty three percent in 2025, a shift Balogun attributed to tighter monetary discipline and greater exchange rate stability. He also pointed to a healthier current account, buoyed by resilient oil receipts, growing non oil exports and steady diaspora remittances.
Yet the President resisted the temptation to dwell only on brighter figures. “Numbers on a page are not yet bread on a table,” he said, adding that the burden of poverty had deepened for many compatriots even as macroeconomic indicators improved.
That candour set the tone for a speech that balanced celebration with realism. “Our task is not merely to celebrate reform, but to ensure that its gains translate into shared prosperity,” Balogun said, describing the Chamber as the channel through which American capital and expertise reach Nigerian enterprise.
The AGM also served as an occasion to reflect on a packed calendar of activities since the Chamber’s 64th Annual General Meeting in June 2025. The year opened with a breakfast meeting on the 2025 Economic Outlook for Nigeria, held on 6 February 2025 at Four Points by Sheraton Hotel, Victoria Island, where veteran actor and filmmaker Richard Mofe-Damijo received the Chamber’s Creative Industry Legend Award in recognition of his contributions to Nigeria’s entertainment sector.
In August, the Chamber partnered with the Nigerian Export Promotion Council for a high level Export Roundtable, equipping exporters with practical insight into United States tariff regulations. February 2026 brought a second economic outlook roundtable, at which filmmaker Femi Odugbemi was honoured with the Creative Industry Excellence Award.
An International Roundtable on immigration policy and governance reform followed in April 2026, examining Nigeria’s evolving immigration and border management framework. Filmmaker and cultural entrepreneur Bolanle Austen-Peters was presented with the Creative Industry Trailblazer Award at that event in recognition of her work across culture and entertainment.
The Chamber also carried Nigeria’s trade voice abroad, taking part in the AfCFTA Biashara Africa Summit in Lomé, Togo, between 17 and 21 May 2026. Days later, on 26 May, a delegation led by Balogun paid a courtesy visit to Lagos State Governor Babajide Sanwo-Olu at Lagos House, Marina, where the Chamber unveiled its Lagos Legacy Project, a proposal to establish a permanent centre for United States Nigeria commercial diplomacy in the state. Governor Sanwo-Olu was conferred with the honorary title of Life Patron during the visit.
Balogun described the Governor’s warm reception as deeply encouraging for the ease of doing business in Lagos. Membership growth featured prominently too, with the President noting a heartening surge of interest from businesses across the country, several of which have since been interviewed and approved by the Board.
Looking ahead, the Chamber disclosed plans for its most ambitious undertaking yet, the construction of NACC Plaza, a permanent secretariat building. A Fundraising and Building Committee has been constituted to drive the project, which Balogun called “this generational undertaking,” urging members to lend their support so that the home built today would serve those who come long after.
Closing his address, Balogun thanked the Board, sponsors, partners, state chapter chairmen and secretariat staff, stressing that “no achievement of this Chamber is the work of one person.” He urged members to leave the hall recommitted to building bridges for commerce and turning ideas into lasting impact.
The 65th Annual General Meeting reaffirmed the Nigerian American Chamber of Commerce’s standing as one of the most consistent platforms for Nigeria United States trade relations, even as its leadership signalled that the institution’s next chapter, anchored by a permanent home and deeper diaspora engagement, is only just beginning.
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