Abuja Commerce Chamber Posts N1.34bn Gross Revenue For 2023

Abuja Chamber of Commerce and Industry (ACCI) has declared a total revenue generation of N1.34 billion for the 2023 financial year, a 224.21 per cent increase from the N412.9 million total income that was made in 2022.

From that, ACCI declared a net income of N857 million which is 204.20 per cent higher than the N11.57 million net income for 2022, according to the chamber’s financial statements that were released at its 2023 annual general meeting yesterday at its Abuja complex.

In the year under review, the chamber’s assets grew from N1.678 billion in 2022 to N2.568 billion in 2023, while its liabilities also rose from N19.545 million in 2022 to N53.3 million in the year ended, September 30th, 2023.

The outgoing president of ACCI Abubakar Al-Mujtaba attributed the growth in revenue accrual to strategic engagements with local and international partners and deliberate commitment to promoting trade and commerce in the period under review.

Al-Mujtaba said to optimise the size of the property of the chamber, “We obtained the site development plan for the 31 hectares of land where the ACCI currently sits from the Development Control Department of the FCDA and successfully entered into a lease agreement on the 10 hectares of land within the ACCI premises to construct a modern shopping complex.

Chief Emeka Akajiugo Obegolu who steps in as the 12th elected president of the chambers promised to lead the chamber on a journey “that fortifies our foundation and steers us towards a future brimming with accomplishments, recognition, and shared prosperity.”

Obegolu said “Let us unite with optimism, determination, and a shared sense of purpose. Abuja Chamber of Commerce and Industry has an illustrious past, and together, we will script an even brighter future. I am honoured to lead as your President and eagerly anticipate collaborating with each of you to realise our collective vision of a thriving business community in Abuja.”

He bragged that ACCI has been a pillar of economic growth, a hub for trade facilitation, and an advocate for its members for the last 37 years, adding that ACCI’s commitment to excellence and service has led to setting unparalleled benchmarks within the industry.

Sir Agabaidu Chukwuemeka Jideani was elected as the new director general of ACCI, while Prof Adesoji Adesugba climbed the ladder to become the first deputy president as Dr Aliyu Idi Hong was elected as the 2nd deputy president of ACCI.