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 recently in Lagos.

Balogun, now in the third year of his presidency, opened his address with visible gratitude.

“That this chamber has stood for 65 unbroken years as the foremost bridge between Nigerian enterprise and American capital is no small achievement,” he said, describing it as a testament to the vision of the chamber’s founders and the loyalty of the membership gathered before him. On the state of the economy, he said:

“The Nigerian economy, holds 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 33 percent in 2024 to 23 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 last year.

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