LCCI Appoints Gabriel Idahosa as New President

The recent Annual General Meeting (AGM) of the Lagos Chamber of Commerce and Industry (LCCI) saw the appointment of Mr Gabriel Idahosa as the new President and Chairman of the Council. This announcement was made by Dr Chinyere Almona, Director General of LCCI, during the Chamber’s 135th AGM held in Lagos.

Mr Idahosa’s appointment follows the conclusion of Dr Michael Olawale-Cole’s tenure as President, which began in 2021. In her statement, Dr Almona described Mr Idahosa as a distinguished leader with a notable track record in various organizations, particularly in professional services, trade promotion, and industry development. She emphasized Mr Idahosa’s commendable service as the Deputy President of the Chamber over the last two years, highlighting his contributions to the Chamber’s movement, public policy advocacy, and the protection of Nigerian business interests.

Following the announcement, Dr Almona expressed the Chamber’s confidence in Mr Idahosa’s ability to enhance the advocacy of best business policies and practices. She also revealed that the Chamber recorded a revenue of N646.95 million in 2023, marking a significant increase from the previous year.

Additionally, in his remarks, the outgoing president, Dr Olawale-Cole, urged the government to provide support for the successful takeoff of the Dangote refinery. He emphasized the importance of reducing the importation of refined oil products, addressing foreign exchange pressures, and ensuring the refinery’s investment does not go to waste.

Dr Olawale-Cole also acknowledged the challenging global and domestic economic landscape, emphasizing the impact of high inflation rates, energy costs, and supply chain disruptions. Despite these challenges, he noted that the Nigerian economy continued to show positive growth trends, albeit at a slow pace.

During his tenure, the Chamber, under the leadership of Prince Abimbola Olashore, Vice President of LCCI, focused on key advocacies and achieved significant milestones. Dr Olawale-Cole highlighted the need for an improved repayment of the Central Bank of Nigeria (CBN) Anchor Borrowers Loan, urging the government to target organized private sectors for intervention funds, and to conduct regular and accurate Farmers’ Census to prevent any form of manipulation in the beneficiary list.

In addition, he advocated for a review of the country’s immigration processes to prevent illegal immigrants from infiltrating the mining sector in Nigeria. Dr Olawale-Cole’s advocacy efforts underscore the Chamber’s commitment to promoting investment-friendly policies and supporting private sector development.

As the LCCI welcomes Gabriel Idahosa as the new President, the Chamber and its members look forward to his leadership and the continued growth and development of the business community.