Tinubu charges directors’ institute on policies to drive economic diversification, sustainable devt

… harps on transparency, accountability

President Bola Ahmed Tinubu has reaffirmed the commitment of his administration towards providing an environment that can drive policies for renewable energy, digital economy, and sustainable agriculture, to global relevance, urging leaders at all levels, both public and private, to embrace reforms and commitment to transparency and accountability.

Tinubu spoke just as the Chartered Institute of Directors (CIoD) Nigeria called for renewed commitment to sound corporate governance, inclusive enterprise development, and sustainable business practices as vital tools for steering Nigeria’s economy through global uncertainty.

Tinubu, who was represented by the Minister of Budget and National Planning, Abubakar Atiku Bagudu, gave the charge at the opening of the 2025 Annual Directors’ Conference (ADC) on Wednesday in Abuja.

He noted that the conference over the years has become one of the nation’s most important platforms for dialogue on corporate governance, leadership and enterprise development, saying it provides an opportunity for reflection, sharing ideas and setting new directions to guide Nigeria’s public institutions and private enterprises towards a stronger and more resilient future.

Tinubu noted that the theme of this year’s conference, ‘Leading Through Change: Building Sustainable and Inclusive Enterprises’, could not have come at a better time than now, when his administration is refocusing and taking bold reforms to align with global dynamics in economic change, technological disruptions and climate change technologies.

He challenged the participants to deliberate on salient issues related to policies to drive economic diversification, business policies and practices, emerging development in the inclusive enterprise ecosystem and sustainable development implications, saying those are issues that shape the future of Nigeria.

“I hope to see a change in the way businesses and governments operate. In such times, leadership must rise to the challenge. It must be visionary and charting the way for a just, embracing reform and unwavering commitment to transparency, accountability and social inclusion.

“Nations are redefining their economic priorities due to technological disruptions, demographic shifts, environmental challenges, and shifting global trade patterns.

“As a nation, we face the challenge of diversifying our economy, generating more value in it, creating jobs for a young, vibrant and ambitious population, and competing in a global market that rewards innovation and resilience.

“For us, as a country, leading through change is not optional, but a national imperative. With over 60% of our population under 25 years, our young people’s energy, creativity and innovation must be the engine of our growth and transformation,” Tinubu stated.

President and chairman of the Governing Council, CLoD, Otunba Adetunji Oyebanji, said strong governance and visionary leadership remain the foundation for building enduring enterprises capable of withstanding economic disruptions.

“The need for sound governance and leadership is crucial to our nation’s quest to build enduring enterprises that stand the test of time,” Oyebanji said.

“Leaders must now balance profitability with responsibility, growth with inclusion, and innovation with integrity.”

The two-day conference brought together business leaders, policymakers, regulators, and diplomats to examine the evolving role of directors in shaping Nigeria’s economic future.

Oyebanji noted that inclusive governance and responsible leadership are key drivers of national prosperity. He cited a recent African-wide study showing that private sector credit expansion significantly enhances economic welfare, particularly in economies that prioritise the ease of doing business.

He further referenced a 2025 ESG-focused report, which revealed that over 20 African countries now embed sustainability principles into their financial market regulations, while 15 provide incentives for green and sustainable assets — a sign of growing alignment with global responsible investment standards.

In Nigeria, he said, such inclusive strategies are most visible in sectors like renewable energy and fintech, where access to finance and youth participation are driving innovation. He stressed that SMEs — which contribute nearly 50 per cent of GDP and 75 per cent of national employment- remain central to inclusive growth, citing the joint NBS-SMEDAN 2021 MSME Survey.

“Despite notable progress, policy inconsistencies, infrastructure deficits, and limited access to affordable finance continue to constrain enterprise growth,” Oyebanji said. “Overcoming these challenges requires stronger public-private partnerships and innovative financing models designed to scale inclusive enterprises.”

The CIoD President announced that the “Business Meets Government Dinner”, scheduled for Thursday, would serve as a high-level platform for dialogue between policymakers and private sector leaders on fostering governance-driven growth.

The keynote address was delivered by Kola Adesina, group managing director, Sahara Power Group, who was commended for his leadership in transforming Africa’s power sector and advancing sustainable business innovation.

In his welcome remarks, Otunba Bimbo Ashiru, chairman of the 2025 ADC National Organising Committee, said the conference theme was deliberately chosen to reflect the pressing need for Nigerian businesses to adapt to disruptive change and embed sustainability within their operations.

“Good governance is a practical tool for fostering economic resilience and sustainable progress,” Ashiru said. “Our sessions are designed to move beyond rhetoric — to challenge assumptions, share best practices, and drive tangible actions that strengthen our economy.”

He noted that this year’s agenda includes thematic sessions on policy reforms, technological disruption, boardroom diversity, succession planning, and stakeholder engagement, aimed at equipping directors with the skills to lead through volatility.

Ashiru also commended the CIoD Governing Council, led by Otunba Oyebanji, for its consistent advocacy for governance excellence and corporate leadership development, while appreciating sponsors, partners, and delegates for supporting the institute’s mission.

The Chartered Institute of Directors Nigeria, established to promote professional directorship and ethical leadership, remains a key voice in policy advocacy, boardroom governance, and enterprise transformation in Nigeria.

As the conference continues, stakeholders are expected to adopt strategies that strengthen institutional resilience and reinforce Nigeria’s transition toward a more inclusive, sustainable, and investment-friendly economy.

ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE