Sheriff Balogun becomes NACC president, vows to grow U.S-Nigeria trade beyond $10bn

The Nigerian-American Chamber of Commerce (NACC) has inaugurated Sheriff Balogun as its 20th president.

Balogun took office during the chamber’s 65th-anniversary dinner in Lagos on Saturday, where he promised to deepen bilateral cooperation and grow the trade volume between both countries beyond $10 billion.

“Our mission is simple but significant—to deepen U.S.-Nigeria economic ties, expand trade volume beyond $10 billion, and unlock the full potential of Nigerian exports,” he said.

The event, themed ‘The Power of Cooperation: 65 Years of Optimising Nigerian-American Economic Relations,’ brought together top players from the public and private sectors.

In his speech, Balogun unveiled his leadership team and a strategic plan to elevate the US-Nigeria trade relationship.

During the celebration, NACC inducted 52 new members and revealed a 3D model of its proposed seven-storey headquarters.

The chamber honoured Nigerian and American companies and individuals who have helped shape the economic landscape, while its past presidents received awards for their enduring contributions.

Samaila Zubairu, president of the Africa Finance Corporation (AFC), chaired the event, and Babajide Sanwo-Olu, governor of Lagos state, hosted the occasion.

Also in attendance were Jumoke Oduwole, minister of industry, trade and investment, and Folashade Ambrose-Medebem, Lagos state commissioner for commerce, cooperation, trade and investment.

Other high-profile guests included Dauda Lawal, governor of Zamfara state; Afe Babalola, founder of Afe Babalola University; Catherine Ifejika, chairperson of Brittania-U Nigeria Limited; Leo Ekeh, chairman of Zini’s Group; Bashir Adeniyi, comptroller general of customs; Michael Ade-Ojo, a leader in Nigeria’s automobile industry; and Bimbo Ashiru, a former commissioner in Ogun state.

For 65 years, NACC has remained a key player in promoting trade diplomacy, driving cross-border investments, and connecting Nigerian businesses to American opportunities.