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LCCI lauds entrepreneurs’ resilience to business challenges


Nike Akande

Nike Akande

BoI receives award for real sector support
The Lagos Chamber of Commerce and Industry (LCCI) has commended the courage of Nigerian entrepreneurs for their business resilience despite the harsh operating business environment in the country.

According to the chamber, while the government is fixing the power sector, security challenges, foreign exchange issues, infrastructure issues, institutional bottlenecks, corruption, Nigerian entrepreneurs have moved on and excelled.

Besides, the chamber has described the award for industry support through intervention funds to the Bank of Industry (BoI) as notable due to the stimulating role the development finance institution has been playing in the real sector.

The President of the chamber, Dr Nike Akande said entrepreneurs have remained spirited and resilient, noting that this is a spirit all countries wish to have.

Akande during the LCCI awards, said as a result of this, the chamber decided to recognise and celebrate deserving corporate organisations that have significant contributions to the advancement of the Nigerian economy.

She stated that the yearly event is celebrating excellence, best practices in corporate governance, value-addition, backward integration, innovations, achievements, high standards of business and professional ethics.

“Our awardees of today have distinguished themselves in various and diverse spheres of enterprise. They symbolise the hope and promise of a prosperous ‎Nigerian economy. The selection process was rigorous, painstaking and evidence based,” she said.

The LCCI boss added that the business environment is replete with all manner of difficulties in the area of infrastructure, funding, policy, corruption, insecurity, weak institutions, but stressed that despite of the myriad of challenges; Nigerian entrepreneurs have remained undeterred and irrepressible.

She pointed out that investors that have remained resolute deserve to be celebrated, saying that this ‎is the context of the yearly award ceremony.

“I congratulate all our awardees and wish them more prosperous years ahead. I enjoin other investments to be part of this platform of celebration of excellence and enterprise,” she stressed.

According to LCCI, the objective of the yearly Commerce and Industry Award is to recognize, promote and celebrate private and public institutions operating in Nigeria for best business practices, growth through innovations, business sustainability and positive impact on the people and society.

Also speaking at the event, the Governor of Lagos State, Akinwunmi Ambode, congratulated all the awardees, commending the chamber for the role it has been playing in stimulating growth and investment in the country.

Ambode noted that his administration is working towards creating an enabling environment for investors while disbursements of various funds to build entrepreneurial drive in the state has commenced.

On his part, Acting Managing Director of the Bank of Industry (BoI), Waheed Olagunju, noted that the award is in recognition of the bank’s activities in the real sector, adding that the bank has commenced a capacity building initiative to enhance capacity of entrepreneurs before disbursing funds to them.

He also added that efforts are underway to seal development pacts with state governments to enhance growth of small businesses and real sector in the country.

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