LCCI Marks 135th Anniversary, Restates Commitment to Advancing Private Sector, Economic Growth

Dike Onwuamaeze

The President of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Michael Olawale-Cole, has stated that the chamber was founded on the practical idea of building and advancing a thriving economy that is controlled by the private sector.

Olawale-Cole made this statement yesterday in his welcome address during the unveiling of the LCCI 135th that commenced activities marking the celebration of the anniversary with the theme “135 Years of Business Advocacy and Value Creation,” with the unveiling of its anniversary logo.

He said the LCCI was established in 1888 and has grown to be the largest chamber of commerce in West Africa with thousands of members. 

Olawale-Cole said: “We have upheld the values of our predecessors and the principles outlined in our foundational documents. In addition, we have done so with courage.

“The founding fathers of the chamber have a practical idea of building and advancing a thriving economy that was controlled by the private sector through advocacy, trade promotion and business advisory.

“I am proud to say that the chamber during the past 13 decades has remained the leading voice of the organised private sector (OPS) in Nigeria. We have regularly maintained consultations on policies and measures affecting business and the economy with our time-tested approaches.  

“We have grown. Today’s LCCI has over thousands of members, up from 14 members when this great institution started and 26 sectorial groups, demonstrating our comprehensive coverage of the Nigerian economy.”

Speaking in the same vein, the Chairman, Board of Trustees, LCCI, Mr. John Odeyemi, said 135 years meant so much in the life of an organisation, which predated both the amalgamation and independence of Nigeria that took place in 1914 and 1960 respectively.

Odeyemi, who had been a council member of the chamber for 50 years now, said activities of the chamber became remarkable in the eyes of Nigerians from 1960, adding that “the fortunes of the chamber and the country have been growing together. And we have been a very vital organ of economic development for the country.”

Similarly, a former President of LCCI and ex-Minister of Industry, Dr. Nike Akande, said it was a great pleasure for her to witness the grand celebration of the chamber at 135 years.

She added: “I stand with a great sense of history to be a part of the history we are celebrating today. “The LCCI is the premier institution for public advocacy in West Africa. Through our policy advocacy, we have consistently engaged the government and strengthened the corporation between the public and the private sectors.

“We have enhanced Nigeria’s bilateral cooperation with other countries through our international relations activities.” 

According to a former director general of LCCI, Ambassador Adekunle Olumide, the LCCI started as the only voice for business in Nigeria until 1960 when the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) was created by the chamber.

Olumide stated that the 135 anniversary of the chamber provided opportunity to highlight the strengths of the LCCI and emphasise the need for enhancing, otherwise it would be difficult for the chamber to maintain its premier position. 

These strengths, according to him, included the membership of the chamber, which is made up of “influential private companies that operates in the key sectors of the economy” and the financial autonomy of the chamber that has never relied on the government for funding of its activities.

Other strengths of the chamber, he said, included the dominance of corporate governance in managing the activities of the chamber, the professionalism of the LCCI’s secretariat, and the ability of the chamber to undergo periodic reforms.

He said; “Any organisation that shies away from periodic reforms will be atrophied at any time and its strengths and vibrancy will be weakened. The LCCI from time to time will invite outside bodies like KPMG to look at the organisation’s strenght and structures.”

The Chair of Printing and Publishing Sector Group of LCCI, Mrs. Layo Bakare-Okeowo, said that the chamber has experienced tremendous growth and weathered through challenges and achieved countless milestones.

“This anniversary serves as a testimony to its resilience, commitment and unwavering dedication to its values and mission,” she said.

Speaking during the occasion, the President of Institute of Chartered Accountants of Nigeria (ICAN), Mr. Tijani Musa Isa, who was represented by the Registrar of ICAN, Professor Ahmed Modu Kumshe, said that ICAN is indeed proud to associate with the LCCI that has recorded giant strides over these years.

Isa described LCCI as a steadfast advocator of the private sector, “working tirelessly to create an enabling environment for businesses to thrive through sustained public policy advocacy, stakeholders’ engagement and trade promotion activities.”

Similarly, the President of IoD Nigeria, Dr. Ije Jidenma, who was represented by the Director General of IoD Nigeria, Mr. Dele, congratulated the LCCI and “particularly felicitate with the chamber for its sustenance of its leadership position in the Nigerian organised private sector space as the first business membership organisation in the country having been founded in 1888.”