NACC unveils ‘Lagos Legacy Project’, seeks backing for US-Nigeria trade centre

The Nigerian-American Chamber of Commerce (NACC) has presented an ambitious proposal to the Lagos State Government for the establishment of a permanent centre for US-Nigeria Commercial Diplomacy in Lagos in what the Chamber described as a defining legacy project for bilateral trade relations.

The proposal, christened: “Lagos Legacy Project,” was formally presented during a high-level courtesy visit to Governor Babajide Sanwo-Olu at the Lagos House, Marina.

Led by its National President, Alhaji Sheriff Balogun, the delegation said the proposed national headquarters of NACC would serve as the institutional hub for commercial relations between Nigeria and the United States for the next 50 years and beyond.

Speaking during the engagement, Alhaji Balogun stressed the historical bond between the Chamber and Lagos State.

Balogun noted that the organisation was founded in Lagos in 1960, the same year Nigeria gained independence.

“Lagos is not where NACC is located. Lagos is where NACC was born,” he said.

According to him, every major activity of the chamber over the past six decades, including Executive Council meetings, Annual General Meetings, and Nigeria-United States Business Summits, has taken place in Lagos. 

He added: “Lagos has been our silent partner for six decades. 

“Today, we come with a respectful invitation to formalise that partnership.”

Alhaji Balogun explained that the proposed centre would become the first destination for US trade delegations, Fortune 500 companies, and commercial missions seeking entry into Nigeria, thereby boosting economic activities within Lagos.

He said the initiative would further strengthen Lagos’s position as Nigeria’s commercial nerve centre, despite Abuja’s status as the nation’s political capital.

The NACC president also linked the project to Governor Sanwo-Olu’s THEMES Plus Agenda, particularly in the areas of foreign direct investment, tourism, entertainment, technology, and SME development.

According to him, the project is expected to create jobs during construction and operational phases, while also supporting hospitality, transportation and event management businesses across the state.

Balogun noted that the centre would help position Lagos competitively against other African commercial hubs such as Nairobi, Kigali, Johannesburg, Cairo, and Accra.

The chamber outlined a three-tier request to the Lagos State Government, beginning with the allocation of a 5,000 square-metre parcel of land on a concessionary long-term lease.

It also requested fast-tracked planning approvals and official endorsement to facilitate discussions with international funding institutions, including the US Trade and Development Agency, US Export-Import Bank, Afrexim Bank, and African Development Bank.

The chamber clarified that it was not seeking direct funding from the Lagos State Government for construction of the facility.

“What we ask of Lagos State is the foundation upon which the building will stand, both literally and institutionally,” Balogun stated.

As part of the proposed partnership, the chamber disclosed plans to confer special honours on Governor Sanwo-Olu, including the title of Honorary Life Patron of the Nigerian-American Chamber of Commerce.

The proposed flagship hall within the project is also expected to bear the name: “Babajide Sanwo-Olu Hall,” in perpetuity.

In addition, the governor is expected to preside over a foundation stone laying ceremony before the end of 2026 and receive a future Distinguished Statesman of Bilateral Commerce Award at a Nigeria-US Business Summit.

At the conclusion of the visit, the chamber presented a commemorative plaque to the governor in recognition of Lagos State’s historic role in fostering US-Nigeria commercial relations.

In his response, the governor described the visit as productive, with discussion focusing on creating opportunities, ease of doing business and strengthening growth.

“I received the Governing Council of the Nigerian-American Chamber of Commerce led by Sheriff Balogun at Lagos House, Marina, where we discussed improving business opportunities and strengthening partnerships for economic growth,” the governor stated.

Sanwo-Olu also appreciated the chamber for the honour bestowed on him.