Stakeholders in the sustainability and environmental, social and governance (ESG) sector have called for an urgent, collaborative action that would serve as a blueprint for inclusive growth, corporate accountability, responsible governance and long-term resilience in the face of economic uncertainty.
This, they said, requires informed leadership and innovative solutions amongst top professionals, policymakers and thought leaders. Speaking at the Financial Institutions Training Centre (FITC) Sustainability and ESG Conference 2025, the stakeholders explored actionable strategies, best practices and partnerships to advance Nigeria’s ESG agenda and align with global standards while addressing local and regional challenges.
They highlighted the urgent need for integrating ESG principles into Nigeria’s economic framework to drive inclusive and resilient growth. Managing Director/CEO of FITC, Dr Chizor Malize, set the tone in her welcome address, describing the conference as an opportunity to activate “a movement”.
She emphasized that ESG practices are now central to economic competitiveness and institutional resilience. Citing research from McKinsey & Co and the UN Global Compact, Malize noted that organisations with strong ESG frameworks enjoy lower capital costs and outperform peers during a crisis.
“The sustainability and global prosperity we aspire to is not a future event but a present imperative. It begins here. It begins now. It begins with all of us,” she asserted, urging stakeholders to move beyond dialogue to actionable strategies.
She underscored the urgency of integrating ESG into the fabric of economic competitiveness and national transformation, noting that “sustainability and ESG are no longer peripheral disciplines, but central levers of economic competitiveness, institutional resilience and national transformation”.
Deputy Governor of the Central Bank of Nigeria (CBN), Philip Ikeazor, underscored the financial sector’s pivotal role in advancing sustainability. He highlighted the revised Nigerian Sustainable Banking Principles (NSBPs), which now include climate risk mitigation.
“Climate inaction could cost Nigeria up to $460 billion,” Ikeazor warned, referencing World Bank data.
He outlined CBN-led initiatives such as green financing for renewable energy projects and internal measures like reducing the bank’s carbon footprint through operational efficiencies.
Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab, drew attention to the social dimension of ESG. Reflecting on his experience in public service, Wahab advocated for policies that address youth unemployment, poverty and educational reform as critical levers for sustainable development.
“Sustainable progress is only possible when social inclusion and human capital development are prioritised alongside environmental stewardship and sound governance,” he said.
He showcased the state’s pioneering efforts in sustainability. From the Blue Box Recycling Programme to the Climate Action Plan targeting net-zero emissions by 2050, Wahab demonstrated how Lagos was turning environmental challenges into economic opportunities.
“Waste is no longer a problem but an economic resource with the potential to drive innovation and livelihoods,” he said, highlighting innovations like the Ikosi Biogas Project, which converts organic waste into biogas.
