It provides a platform for businesses to express their opinions and concerns regarding legislative or other measures affecting trade, industry, commerce, and agriculture.

[1] Founded on December 5, 1888, it was incorporated in 1950 as a non-profit making organization, Limited by Guarantee under the Companies Act of 1948.

The award recognized companies in the following industries - Banking, Insurance, Pension Management, E-Payment, Education, Telecoms, Professional Services, Healthcare, Oil & Gas, Manufacturing, Trade/Retail Trade, Building & Construction and SMEs.

In October 2014, Lagos Chamber of Commerce unveiled 2face Idibia, Brymo, Vector and Kunle Afolayan as ambassadors.

The entertainers were unveiled during an elaborate ceremony at the Commerce House, which is located on Idowu Taylor Street in Victoria Island, Lagos.