President Bola Tinubu has praised company directors for their commitment to good governance and reforms, which have enhanced governance standards critical to Nigeria’s development.
The President, who spoke on Wednesday as the Special Guest of Honour at the Annual Directors’ Conference of the Chartered Institute of Directors Nigeria in Lagos, commended the directors for focusing on good governance as a catalyst for economic growth and sustainable development as the conference’s theme, which he said were the priorities of his administration.
The president, represented by Senator Abubakar Bagudu, the minister of budget and economic planning, said the theme aligns with his administration’s “Renewed Hope Agenda,” which aims to drive economic reform and inclusive growth through transparency, accountability, and a strategic governance framework.
“Good governance is not merely a concept; it’s essential to our nation’s development,” the President told the conferees, including the Lagos State Governor, Mr Babajide Sanwo-Olu; the Guest Speaker, Prof Attahiru Jega; company directors, business executives and government leaders.
He highlighted ongoing reforms to monitor performance, enhance transparency, and ensure that government operations align with international best practices.
Tinubu appealed to the nation’s leaders, especially corporate directors, to lead by example in upholding standards that foster integrity, innovation, and inclusivity.
The President spoke about his administration’s significant reforms, including the recent removal of the fuel subsidy. He said this had enabled the government to nearly double its revenue and significantly reduce debt servicing from 97% to 68% of national income.
He said the savings had helped the administration raise the minimum wage to 70,000 naira, implement currency reforms to stabilise the financial sector and initiate infrastructure projects like the Lagos-Calabar Coastal Highway and Sokoto-Badagry Superhighway, setting the stage for a more resilient and diversified economy.
Tinubu noted, “Amid these hurdles lie vast opportunities awaiting proactive governance to revive our nation’s aspirations.”
He underscored the role of directors as guardians of corporate integrity and strategy, calling on them to align with the government’s objectives to help unlock Nigeria’s economic potential.
He pointed out that the government has implemented initiatives, including economic stabilisation bills and increased social investment funding, to mitigate the social impact of structural reforms and position Nigeria for global competitiveness.
The President called for collaboration between the public and private sectors to facilitate the nation’s economic recovery and development. “Our resolve is to create a robust economy that supports every Nigerian’s success. Together, we can build a resilient Nigeria, a beacon of hope, integrity, and shared prosperity.”
He noted that the conference is pivotal for deepening dialogue on governance and ensuring Nigeria’s sustained progress as a regional economic leader.
The Chartered Institute of Directors Nigeria Annual Conference, renowned for fostering robust governance discussions, is expected to yield actionable insights and strategies as Nigeria continues toward economic recovery and sustainable development.