Leading finance and accounting professionals have issued a strong call to the Nigerian government, urging immediate policy reforms, economic diversification, and a significant boost in local production. The goal is to stabilise the nation's fragile finances and build resilience ahead of 2026.
Urgent Calls for Action at ICAN Awards Night
The urgent appeal was made during the first annual Dinner and Awards Night of the Institute of Chartered Accountants of Nigeria (ICAN), Lagelu and District Society. The event was held at the Aweni Event Centre in Ibadan on 1 December 2025.
Prominent speakers highlighted that persistent inflation, the continuous devaluation of the Naira, and an over-dependence on crude oil revenues continue to pose severe threats to sustainable economic growth. They argued that harnessing collective expertise is crucial for navigating the challenges expected in the 2026 economic landscape.
Expert Analysis and Cautious Optimism
Chief Mrs. Omokemi Olufunke Oladipo, FCA, the Pioneer Chairman of ICAN Lagelu, expressed measured optimism. She noted that current efforts by both the government and citizens are starting to show positive results, particularly through increased market activity.
"Many people are bringing food products into the city, and they are buying and selling. Exposure to different types of businesses is enabling people to earn more and spend more. There is light at the end of the tunnel," Oladipo stated. She also acknowledged the impact of currency depreciation on the state's budget, confirming that adjustments were made to ensure public amenities continue to reach citizens.
In contrast, Dr. Prince Oyebade Oyedepo, FCA, a board member of the Oyo State Anti-Corruption Agency, described the economy as fragile. He called for urgent stabilisation measures, emphasising a shift away from import dependency and oil.
"Policy reforms must focus on creating an enabling environment for production and entrepreneurship. Lowering interest rates and stabilising the currency are essential for encouraging investment and boosting local industries," Oyedepo asserted. He further stressed that national security is fundamental to economic growth, as insecurity disrupts production and scares away investors.
Another chartered accountant, Mr. Marcus Kayode Akobi, acknowledged the current strain on national finances but shared optimism that ongoing reforms are structured to yield tangible results by next year.
Accountants Charged with Strategic Leadership
The keynote address was delivered by Professor Ishola Rufus Akintoye, a Professor of Accounting and Strategic Financial Management. Speaking on the theme "Honouring Distinction, Advancing Our Vision," he urged fellow accountants to prioritise vision, strategic thinking, and continuous learning. He highlighted excellence, capacity-building, and strong partnerships as critical pathways to professional and national success.
The event also served as a platform for honouring excellence within the profession. The district society presented awards to several distinguished professionals for their contributions to the financial sector. Highlights of the evening included:
- The unveiling of the Thrivers Journal, a publication documenting the achievements of accountants in the district.
- A fundraising drive for the district secretariat, which received significant donations from Oloye Adegboyega Taofeek Adegoke, FCA, Baker Tilly Nigeria, and others.
The night concluded with networking, renewed commitments to professional standards, and celebrations of outstanding contributions to the accounting field in Nigeria.
