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By Henry Uche
The Federal Government has been urged to sustain its efforts in deepening coordination across fiscal, monetary, and trade policies to ensure coherence, predictability, and confidence in economic management.
In a new year message signed by the Director-General/Chief Executive Officer of Chartered Institute of Directors (CIoD) Nigeria, Dr. Taiwo Nolas-Alausa, tittled: ‘From Transformation to Prosperity’, while extending its warmest felicitations to all Nigerians, maintained that, to fully unlock Nigeria’s potential, Nigeria must consolidate current structural reforms while decisively addressing the hydra-headed security challenges that remain the primary barrier to stimulating robust Domestic and Foreign Direct Investment (FDI).
Commending the federal government’s efforts to overhaul Nigeria’s fiscal framework through the enactment of the Nigeria Tax Reform Acts, the Institute acknowledged its impact on the economy saying, “Significant progress is also being recorded in the transformation of Nigeria’s financial system.
“The ongoing bank recapitalisation exercise, which has attracted over ₦2.5 trillion in fresh capital, is strengthening the resilience of the financial sector against global vicissitudes. In parallel, the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 further reinforces financial stability and positions the economy on a sustainable path toward the aspiration of a $1 trillion economy.
“As we move into 2026, the global economy remains tempered by restrained growth, tightening financial conditions, and persistent cost pressures. These are fueled by geopolitical tensions, rising protectionism, and climate-related disruptions. With multilateral forecasts predicting only modest expansion in advanced economies, a greater responsibility rests on emerging markets like Nigeria to maintain fiscal discipline, strengthen domestic productivity, and uphold the highest standards of corporate governance”
They affirmed that the articulation of these priorities in the New Year’s message by President Bola Ahmed Tinubu, is both timely and instructive, serving as a rallying call for national renewal and a pathway toward placing Nigeria’s economy on a sustainable trajectory of growth and resilience.
CIoDN posited that to achieve these ambitions, such alignment is essential for translating macroeconomic gains into tangible outcomes, higher productivity, job creation, and improved living standards for all and sundry.
“As we respond to the President’s clarion call for unity and responsibility, the Institute highlights three critical imperatives for Directors, Captains of Industry, and Government Functionaries.
“Strategic Alignment with National Priorities: Federal policy currently prioritises national stability, food security, energy sufficiency, and financial inclusion. With food costs remaining the most significant burden on Nigerian households, boards are encouraged to find the commercial opportunity within the social responsibility of optimizing supply chain efficiencies.
“Fiduciary Responsibility and Tax Compliance: With the Nigeria Tax Act 2025 now in effect, tax compliance must evolve from being a mere ‘back-office function’ to a central element of corporate governance. Boards and directors are now required to treat tax obligations as a core fiduciary duty, ensuring that internal controls, transparent reporting, and robust record-keeping are rigorously applied. These are the mechanisms that strengthen public trust and ultimately lower the cost of capital for the private sector.
“Sustainability and the New Global Trade Reality: From 2026, the global trade landscape changes significantly with the implementation of the European Union’s Carbon Border Adjustment Mechanism (CBAM). Nigerian exporters in sectors such as cement, aluminum, steel, and fertilizer must now measure and manage carbon emissions or face punitive charges that will erode global competitiveness. The CIoDN mandates that boards treat carbon management and IFRS Sustainability Disclosure Standards as business-critical matters”
The Corporate leaders added that early adoption is no longer optional but a prerequisite for market access. They called on Nigerians to do all within their means and influence to entrench a culture of discipline, ethical leadership, and accountability, beginning from the boardroom. “Directors who lead with integrity, transparency, and strategic foresight do more than manage companies; they build the foundational pillars of a stronger, inclusive, and growth-oriented economy.
“The economic signals are improving and our policy direction is clearly defined. However, policy alone is not enough. With collective commitment and responsible leadership, we can harness these gains to reposition our nation for sustainable growth and long-term prosperity” they assured.
