LCCI charges 57 inductees on innovation

Wed, Oct 19, 2022

3 MIN READ

Economy

THE Lagos Chamber of Commerce and Industry (LCCI) has tasked its newly inducted member organisations to be innovative and adopt new models for their emerging needs and expectations post COVID-19 pandemic.

Dr Michael Olawale-Cole, President, LCCI, gave the advice at the induction ceremony for 57 newly inducted member organisations on Wednesday in Lagos.

Olawale-Cole said that the advice was necessary to help organisations and institutions navigate the challenges of global economic crisis that accompanied the COVID-19 pandemic.

He said that it was imperative for businesses to seek out and seize the opportunities emerging in the global recovery as economic activities gathered momentum across the world.

Olawale-Cole said the crisis had preempted the chamber to reevaluate operations, rejig processes and broaden scope of services and policy advocacy initiatives to support the development of the business community.

“The challenges created by COVID-19 portend new opportunities that we must never allow to waste away.

“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,” he said.

The LCCI President charged the inductees to uphold the Chamber’s cherished tradition of high ethical standards, innovation, continuous improvement, integrity, and good corporate governance in business practice.

“As business owners and managers, though your primary obligation is to maximise profit, I charge you to pay adequate attention to the integrity of your business transactions and practices, environment, climate actions and social sustainability.

“I, therefore, enjoin you all to be committed to the core principles of high ethical standards, global best practices, and responsible corporate citizenships.

“Indeed, it is therefore expedient for us to position our organisations to benefit optimally from the specially designed initiatives and programmes of the Chamber.

“I am confident that with your active participation in the activities of the Chamber, your businesses will derive tremendous benefits,” he said.

Mr Ladi Smith, Chairman, Membership and Welfare Committee, charged the inductees to place a high premium on their membership status for appropriate positioning which would be beneficial to their organisations.

According to him, member organisations potentially stand to benefit significantly from the LCCI on multiple levels such as access to useful and accurate business information essential for business planning and strategy.

Smith said that other benefits include credibility and trust in international business circles, the Chamber’s intervention where necessary, brand visibility and access to advocacy as well as advisory services and others.

“The membership if taken with the seriousness that it deserves will have significant and positive impact upon the business endeavours of your firms to stimulate growth, profitability, sustainability and the creation of new jobs for Nigerians and others.

“We also expect, in the spirit of reciprocity: that your organisations contribute their own quotas to the development, growth and expansion of the frontiers currently embraced by our great institution.

“We urge that your organisations will always do business with integrity and at the highest ethical standards, pay up subscription and attend meetings and events,” he said.

The News Agency of Nigeria (NAN) reports that some of the companies inducted include Dangote Fertilizer Ltd., Zenith Bank Plc, Bonds Foods Ltd., August Secrets, NLPC PFA Ltd., and others. (NAN)