The LCCI-BRUNEL Industry Awards opens for nominations 

The first edition of the LCCI-Brunel Industry Awards opens for nominations on 10th September 2024. Any company is eligible to be nominated for the LCCI-Brunel Industry Awards. Foreign companies with a substantial commercial presence in Nigeria for over three years may be recognized if they have greatly impacted the industry awards categories related to their sector.

Nominating is quick and easy: access the  LCCI-Brunel Awards Nomination Form here or click the button at bottom of the page.

For more information, visit the LCCI website or email the Awards Team at Industryawards@lagoschamber.com 

The awards presentation will be held on the 7th of November 2024 at the Banquet Hall of the Tafawa Balewa Square, Lagos Island, Lagos. The awards will go along with this year’s Lagos International Trade Fair

CATEGORIES AND REQUIREMENTS – Companies should respond to the requirements within the different categories.

A.  Sustainable Business of the Year Award Criteria – Nigeria

These criteria aim to recognize businesses in Nigeria that demonstrate excellence in integrating sustainability into their core operations, fostering positive impacts on the environment, society, and economy while showcasing innovation, leadership, and resilience in their sustainability journey.

Requirements:

1.     Environmental Sustainability

• Demonstrated commitment to minimizing environmental impact through sustainable practices such as energy efficiency, waste reduction, sustainable sourcing of materials, adherence to local environmental regulations, active participation in conservation efforts (tree planting), and pollution control.

2.     Social Responsibility

1. Engaging in ethical business practices that prioritize the well-being of employees, customers, gender equality initiatives, and local communities.
2. Demonstrated support for community development through initiatives such as education and healthcare programs, infrastructure development, or contributions to local economic empowerment.
1. Economic Viability
1. Sustainable financial performance demonstrating profitability while also considering long-term economic viability.
2. Evidence of innovative business models that integrate sustainability into core operations and contribute to the growth of the circular economy.
2. Innovation and Leadership
1. Implementation of innovative solutions or technologies that address sustainability challenges in the Nigerian context.
2. Active involvement in advocacy, partnerships, or collaborations aimed at advancing sustainable development goals and driving positive change at a systemic level.
3. Stakeholder Engagement and Communication
1. Effective communication of sustainability initiatives, goals, and achievements to internal and external stakeholders.
2. Engagement with stakeholders including employees, customers, suppliers, investors, and local communities to gather feedback, build partnerships, and foster a culture of sustainability.

B.  High Growth Business of the Year Award Criteria – Nigeria

These criteria aim to recognize high-growth businesses in Nigeria that demonstrate exceptional performance, innovation, and strategic vision in driving revenue growth, expanding market presence, and contributing to economic development.

Requirements:

1. Revenue Growth

• Demonstrated consistent and substantial revenue growth over a defined period, showcasing the business's ability to expand its market share and increase profitability.
• Evidence of revenue growth that outpaces industry benchmarks and competitors, indicating the business's exceptional performance in generating income.

2.     Market Expansion

1. Successful penetration into new markets or significant expansion within existing markets, supported by strategic planning, market research, and effective marketing strategies.
2. Evidence of market diversification or expansion into new geographical areas, sectors, or customer segments, contributing to overall business growth.
1. Innovative Business Model
1. Implementation of innovative business models, products, or services that differentiate the business from competitors and drive growth.
2. Demonstrated agility and adaptability in responding to market trends, customer needs, and technological advancements to sustain growth momentum.
2. Human Capital Development
1. Investment in human capital development through recruitment, training, and retention strategies aimed at building a skilled and motivated workforce to support business growth.
2. Evidence of talent management initiatives, leadership development programs, or employee engagement strategies that foster a culture of innovation and high performance.
3. Financial Management
1. Sound financial management practices demonstrating prudent resource allocation, effective cost control, and sustainable financial performance.
2. Evidence of efficient use of financial resources, including optimized capital structure, effective cash flow management, and prudent risk management practices.

C.  Entrepreneur of the Year (Individual Award)

These criteria are intended to provide a comprehensive evaluation framework for identifying and honouring outstanding entrepreneurs in Nigeria. They should be flexible enough to accommodate a diverse range of entrepreneurial ventures while ensuring a rigorous and fair selection process.

Requirements:

1.     Business Success and Growth: The nominee should demonstrate exceptional success and growth in their entrepreneurial ventures, showcasing significant achievements in terms of revenue, market share, and overall business expansion. Evidence of sustained growth and profitability over a reasonable period should be provided.

2.     Innovation and Creativity: The nominee should exhibit a high level of innovation and creativity in their business operations. This could include the introduction of new products or services, innovative business models, or groundbreaking approaches to solving industry challenges.

3.     Job Creation and Employment Impact: The nominee should have a track record of creating jobs and positively impacting employment in Nigeria. This could be through direct employment within their own company or by supporting job creation through their business activities, such as through partnerships or investments in other ventures.

4.     Contribution to the Economy: The nominee should have made a significant contribution to the Nigerian economy through their entrepreneurial endeavors – tax revenue to government, etc.

5.     Social Responsibility and Community Engagement: The nominee should demonstrate a commitment to social responsibility and community engagement. This could involve initiatives such as corporate social responsibility programs, community development projects, or philanthropic activities aimed at improving the well-being of Nigerian communities.

6.     Leadership and Management Skills: The nominee should exhibit strong leadership and management skills, demonstrating the ability to effectively lead and inspire teams, manage resources, and navigate challenges to achieve business success.

7.     Adaptability and Resilience: The nominee should demonstrate adaptability and resilience in the face of challenges or changing market conditions. This could include examples of successfully pivoting business strategies, overcoming obstacles, or recovering from setbacks.

8.     Ethical Standards and Integrity: The nominee should adhere to high ethical standards and demonstrate integrity in their business dealings. This includes honesty, transparency, and a commitment to ethical business practices that contribute to trust and credibility within the entrepreneurial ecosystem.

9.     Recognition and Awards: The nominee may have received recognition or awards from reputable organizations within Nigeria or internationally, highlighting their entrepreneurial achievements and contributions to the business community.

10.  Impact on Industry or Sector: The nominee should have made a significant impact on their respective industry or sector in Nigeria, demonstrating influence, thought leadership, and a pioneering spirit that sets them apart as a standout entrepreneur.