The Nigerian-British Chamber of Commerce (NBCC) is the foremost bilateral chamber of commerce in Nigeria, with the main objective of promotion of trade and investment between Nigeria and Britain since inception in 1977.
Now with over 400 members spanning all sectors of the economy made up of Nigerian and British business people, the group has continued to strengthen the frontiers of economic growth in Africa’s most populous nation.
When it comes to the area of promoting bilateral business and investment activities between Nigerians and the private sectors of any developed economy, the 42nd year old Chamber stands out given its achievements over the past years.
Just a few weeks ago, the Chamber invited a unique gathering of key stakeholders in Nigeria’s trade and investment sector to celebrate the outstanding achievement of a successful completion of its new multipurpose plaza in Lagos.
The edifice built by NBCC is not just an office complex, but a multi-purpose hub featuring facilities such as a Business Incubator, the British Trade Center, a Seminar Room, Members’ Lounge, Training Suites, a Digital Library and meeting rooms for its members and the general public in Nigeria and the United Kingdom.
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Little wonder, at the Chamber’s 42nd Annual General Meeting, held on July 16, 2021, at their new complex, members held their heads high with clear satisfaction as they elected a new executive led by Bisi Adeyemi to begin a new chapter in the life of the organisation.
Adeyemi is the second female president in the 42-year history of the Chamber. Other officers of the new executive are Ray Atelly and Bimbo Olashore – who would serve as deputy presidents, while Akin Osuntoki, Wole Oshin, Steve Smith, and Seyi Adeyemi were elected Vice-presidents, and honorary treasurer is Sola Oyetayo.
Promising to consolidate the current success of the forum which represents Nigeria and British interests, through which the development and improvement of Commerce and Industry between the two countries are encouraged and protected.
Adeyemi in her acceptance speech thanked the Immediate Past President, Kayode Falowo for his clear efforts and focus to deliver on his 12- point agenda, the high point of which was the completion of the beautiful edifice of the Chamber, which was conceived twenty-seven years ago.
Her eight focal points for the next two years of her administration she listed includes Improved Value Proposition to Members; Strengthening the Secretariat for Improved Service Delivery; Refocusing Sectorial Groups for Maximum Impact; Improving the Efficacy of the Chamber’s Advocacy Role with the Voice of Business; Integrating British Businesses into NBCC Membership; Sustaining the Focus on Micro, Small and Medium Enterprises (MSMEs); Diversification of Funding Sources and Launching the NBCC Emerging Leaders and Executive Mentoring Programme.
The new President promised that her administration will improve the value proposition to members through better engagement, bespoke benefits, and services, designed to meet the needs of members in a manner that directly impacts business performance. She equally promised that improved engagement will enable the Chamber to determine the needs of each category of membership and offer category-tailored services that create value and deliver visible member benefits. The new President emphasized her promise to ensure that the Chamber is better positioned to deliver improved value to members.
On her plans to refocus the Sectorial Groups for maximum impact, she said, “we will refocus the Sectorial Groups for better alignment with the objectives of the Chamber and the expectations of member companies. Programmes and Events of the Sectoral Groups will be focused on promoting B2B opportunities. A new Sectorial Group to cater for the Creative Industry and enhance the robustness of our membership will be inaugurated”.
With the commissioning of the NBCC Plaza project, Adeyemi promised to put in place strategies to actualize the wealth creation opportunities provided by the Multipurpose Plaza Building.
Her words: “We will diversify the Chamber’s funding options beyond the primary source of revenue (membership dues) by positioning the Chamber to attract both local and international grants. We will also improve the value proposition to our sponsors in a bid to ensure sponsorship is a win-win experience. Our Trade Desk will be activated to provide us the opportunity of earning income in other currencies. We will also prioritize our subscription recovery efforts and build a healthy reserve”.
The President also promised to formally launch the NBCC Emerging Leaders Platform which will serve as a platform through which the Chamber can create impact with younger demography as well as a pipeline to leadership succession. “An Executive Mentoring Programme that will pair accomplished professionals and entrepreneurs with their younger counterparts will be established as our own contribution to equipping the next generation of business leaders,” she stressed.
When the new president was asked, in an interactive session with the media, why she was chosen for the top position in the Chamber, she said; “I think it’s the passion and the roles which one finds oneself playing. So, at one point or the other, I have played different roles at the Chamber. I was the Treasurer at some point, I have also been Deputy President and Chairman of the Finance & General-Purpose Committee; and I have also served as the Head of the Trade Mission Committee that organised the annual trade missions to the UK. I think that the commitment that I bring to whatever task that I have been assigned to over the years is what has put me in good stead to be considered for this role.”
On her advice for ladies in business leadership in a male-dominated world, she said, “I will look at leadership in general. We should not ever think that there is a ceiling that needs to be shattered; everything is possible once you put your best foot out. Don’t be limited by the circumstance of being a female; it’s not a disadvantage. You have the same advantage as the male counterpart, so when people start celebrating when a woman has done this, I think its belittling the woman. So, for the young woman out there, whatever you are given to do, do it to the utmost of your ability and whatever you deserve, you will get, not because you are a woman, but because you are an individual that has done very well.”
Outgoing president, Kayode Falowo also expressed a strong feeling of satisfaction and fulfillment over a successful tenure completion and a smooth change of baton. He believes the Chamber has been set on a path of financial sustainability and stability as the foremost Chamber. He also acknowledged that there were challenges in those two years despite the successes achieved.
His words: “Raising the money for this edifice was very challenging but people, and organizations stepped in, even as the challenges emerged. There was also the challenge of COVID-19, we had to sit down and transform all our physical activities to virtual programmes. It was the most vital and rewarding step we took in my tenure. The cost of organising those programmes reduced significantly. With limited resources, we were able to organise more events virtually, and the mileage recorded was outstanding. We were able to connect from China, Australia, Germany, and the Simpact combined with the benefits was enormous. There is no way we would have achieved close to what we did in terms of the quality of support, speakers and participation with physical programmes. It was a clear case of turning challenges to fruitful opportunities.”
Kayode Falowo expressed strong belief in the capacity of the new executive to sustain the tempo of what his administration started, as most members of the new team were also part of the immediate past administration.
However, the former president advised on some key areas the new administration should focus on. “First, they should ensure that they maintain good rapport with members, and remain in touch constantly to create programmes that meet their aspirations. Secondly, platforms for trade and investment opportunities should be created constantly because that is a major reason people join chambers. Members want to grow their businesses. Thirdly, the new team should try to sustain the tempo of those platforms created – the webinars, advocacy platforms, breakfast meetings – should be sustained and consolidated.
The Nigerian-British Chamber of Commerce has clearly demonstrated an appreciable growth within the annals of its own establishment, and in comparison, to other similar chambers. The commissioning of the multi-purpose office complex catapulted it to another level even with the restructuring of the Secretariat in order to enhance service delivery to members/general public.
With the new office Chamber, staff are expected to be more agile in the execution of their official responsibilities; as it is aimed at improving the efficiency of the Secretariat to ensure its responsiveness with focus on meeting the needs of members and attracting leading businesses to join the Chamber.
