The Chartered Institute of Directors Nigeria (CIoDN) has issued a powerful call to action, demanding that leaders in both government and the private sector demonstrate responsible governance to ensure the nation's economic reforms result in tangible benefits for ordinary Nigerians. The institute warns that without ethical leadership and coordinated action, macroeconomic gains will fail to create jobs or ease the severe cost-of-living pressures facing workers.
From Stabilisation to Shared Prosperity: The 2026 Challenge
In a New Year message titled 'From Transformation to Prosperity', the Director-General and CEO of CIoDN, Dr. Taiwo Nolas-Alausa, provided a clear-eyed assessment. He acknowledged that reforms implemented since May 2023 have contributed to economic stabilisation and improved digitalisation in the public sector, with 2025 serving as a critical transition year.
However, Dr. Nolas-Alausa stressed that the true measure of success lies ahead. "The real test of reform success lies in whether macroeconomic gains translate into employment creation, wage stability, and reduced cost-of-living pressures," he stated. He emphasised that the responsibility now rests squarely on leaders to ensure that stability leads to higher productivity, decent jobs, and better welfare for all citizens.
Urgent Priorities: Security, Governance, and Global Compliance
The institute outlined several urgent priorities for Nigeria as it navigates a fragile global economy in 2026. At the top of the list is tackling the nation's security crisis, which CIoDN identified as the single biggest threat to unlocking both domestic and foreign investment. Insecurity continues to cripple supply chains, reduce industrial activity, and limit job opportunities, especially in vital sectors like agriculture and manufacturing.
On economic policy, the CIoDN reacted to President Bola Ahmed Tinubu's New Year message by endorsing his call for unity. The institute urged for deeper coordination between fiscal, monetary, and trade policies to create a predictable environment that supports business expansion and job growth.
The institute also highlighted new obligations for corporate boards under the Nigeria Tax Act 2025, insisting that tax compliance must be treated as a core governance duty, not just an administrative task. Furthermore, CIoDN warned that global trade shifts, like the European Union's Carbon Border Adjustment Mechanism (CBAM), could threaten jobs in export-dependent sectors such as cement, steel, aluminium, and fertiliser if Nigerian firms do not adapt swiftly.
A Renewed Culture of Accountability
For organised labour and workforce advocates, CIoDN pinpointed three governance priorities with direct impact on workers' welfare:
- Strategic alignment of corporate goals with national development priorities.
- Upholding fiduciary responsibility, including robust tax compliance.
- Embracing sustainability to compete in the evolving global trade landscape.
With food inflation remaining a severe burden, the institute urged corporate boards to view supply-chain efficiency as both a commercial opportunity and a social responsibility that can directly ease pressure on workers' incomes.
The CIoDN's message culminates in a call for a fundamental cultural shift. It stresses that building an inclusive economy that works for workers, businesses, and the nation must start with discipline, ethical leadership, and accountability in every boardroom. The path from economic transformation to widespread prosperity, they argue, is paved by responsible leadership at every level.
