The Minister of State for Industry, Trade and Investment, John Enoh, has said Nigeria must strengthen corporate governance and institutional credibility to attract long-term investment and build globally competitive industries.
Enoh stated this on Thursday in Abuja at the 11th Executive Committee Investiture Ceremony of the Abuja Zone of the Chartered Institute of Directors Nigeria, where Rose Eshiett was inaugurated as chairman of the zone.
Speaking at the dinner event, the minister said governance remained central to industrial transformation, investment attraction and economic growth.
“No nation can build globally competitive industries without strong institutions. No economy can attract patient capital without credible governance. No enterprise can endure without sound boards, disciplined management, transparent reporting, and responsible leadership,” Enoh said.
He stressed that as Nigeria pursues industrial growth, investment confidence, and private-sector-led transformation, the quality of leadership in both public and private institutions would determine the country’s success.
“Good governance is not an abstract ideal. It is the foundation upon which enduring institutions are built. It is the discipline that turns ambition into performance, enterprise into legacy, and leadership into public trust,” he stated.
According to him, Nigeria’s future would be shaped by decisions taken in boardrooms, the integrity of corporate leaders and their commitment to transparency and accountability.
Enoh added that the Federal Ministry of Industry, Trade and Investment was focusing on productivity, value addition, competitiveness and industrial capacity, noting that policies alone could not deliver lasting impact without ethical leadership and sound governance.
The Head of the Civil Service of the Federation, Didi Esther Walson-Jack, also noted the importance of strong institutions and responsible leadership in driving national development.
She said the Federal Civil Service was implementing reforms centred on professionalism, innovation, digitalisation, accountability and citizen-focused service delivery.
She noted that governance excellence was not merely about meetings and formal procedures but about making decisions that improve outcomes for citizens.
Walson-Jack called for deeper collaboration between the Office of the Head of the Civil Service of the Federation and the Chartered Institute of Directors to expose permanent secretaries and senior civil servants to governance training and board leadership development.
Delivering the keynote address, a board member of NNPC Limited, Bello Rabiu, said boards must adapt to an increasingly volatile global environment characterised by geopolitical risks, economic uncertainty, technological disruption and changing stakeholder expectations.
Rabiu urged directors to move beyond reviewing historical performance and focus on anticipating future risks through scenario planning and enterprise-wide risk management.
He also stressed the importance of accountability and organisational culture.
Representing the chairman of the occasion, founder and chairman of Heirs Holdings, Tony Elumelu, the Managing Director and Chief Executive Officer of Transcorp Hotels Plc, Uzo Oshogwe, said Nigeria needed stronger institutions and visionary leadership to drive economic development.
She noted that expectations from corporate leaders had expanded beyond delivering profits to creating jobs, strengthening institutions and contributing to society.
“The choice of leadership matters, especially at a time when our country requires stronger institutions, greater accountability, and more visionary leadership,” Oshogwe said.
She added that good governance remained at the heart of the African Capitalism philosophy championed by Elumelu.
“Without strong governance, businesses cannot fulfil their potential as engines of development,” she stated.
Earlier, the President and Chairman of the Governing Council of the Chartered Institute of Directors Nigeria, Adetunji Oyebanji, described the investiture as more than a ceremonial transfer of responsibility.
He said the Abuja Zone occupied a strategic position within the institute because it served as a bridge between governance, public policy, business leadership and national development.
“The future of Nigeria’s organisations, public and private alike, will depend significantly on the quality of governance we nurture today,” Oyebanji said.
He urged the new leadership of the zone to deepen stakeholder engagement, governance advocacy, capacity development and strategic partnerships.
The Royal Father of the Day and immediate past chairman of the Akwa Ibom State Traditional Rulers Council, HRM Odidem Bassey Etim Edet, also emphasised the link between governance, investment and economic prosperity.
“Nigeria needs institutions that work. Nigeria needs leaders who inspire confidence. Nigeria needs organisations that place long-term value above short-term gains,” the monarch said.
He added, “When governance improves, investment grows. When investment grows, jobs are created. When jobs are created, families prosper. When families prosper, communities thrive.”
In her welcome address, the outgoing chairman of the Abuja Zone, Mrs Nwando Chukwurah, said the event reflected the institute’s commitment to continuity, governance and leadership excellence.
She expressed confidence in the ability of Eshiett and her executive committee to build on the achievements of previous administrations.
In her acceptance speech, Eshiett pledged to strengthen the institute’s role as a leading platform for corporate governance, leadership development and policy advocacy.
She unveiled a three-point agenda focused on membership growth and value enhancement, strategic visibility and influence, and revenue growth and institutional sustainability.
“Together, we can deepen the culture of good governance, strengthen board effectiveness, promote ethical leadership, and contribute meaningfully to national development,” she said.
Eshiett added that her administration would leverage Abuja’s strategic position to engage government institutions, regulators, development partners and the private sector through policy dialogues, governance advocacy and strategic partnerships.