LCCI asks members to re-evaluate operations, business models

The Lagos Chamber of Commerce and Industry (LCCI), has tasked its members on the need to re-evaluate their operations and business models to operate efficiently in a post-pandemic economy.

Noting that the Chamber had already re-aligned its strategy to broaden its scope of services and policy advocacy, the LCCI urged business owners to also adjust their models for efficiency and profitability.

Similarly, members were advised to adhere to professional and high ethical standards to achieve profitability and sustainability in their business operations.

According to the LCCI President, Mrs Toki Mabogunje, businesses have obligations which transcend profit-making, noting that adequate attention to integrity of business transactions and practices is key to ensuring business continuity and profitability.

Mabogunje during the chamber’s induction ceremony, added that the Chamber believes so much in adopting ethical behaviour and fairness in carrying out business dealings with members, non-members and the society at large, while also expressing the need for the Federal Government’s protection of the business environment.

“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,” she added.

She said the objective of the Chamber is encapsulated in its mission 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, and provision of business development service and observance of the highest‎ standard of business ethics.

She therefore enjoined the newly-inducted members to be committed to the ideals of high ethical standards and responsible corporate citizenships.
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According to her, the Chamber has gone a long way to build its present image and credibility through the vision, selfless services, and integrity of its illustrious founding fathers and their worthy successors.

Earlier, the Vice President and Chairman, Membership and Welfare Committee, LCCI, Mrs Mojisola Bakare, urged the new members to be guided by the Chamber’s governance framework having been inducted as latest ambassadors.

Indeed, 80 members were inducted, as Bakare reiterated that effective Chamber governance rests upon an institutional framework that promotes fairness, transparency, accountability, and responsibility in the private and public spheres, consistent with the rule of law.