Resource gap, economic instability, navigating regulatory complexities, insecurity and inadequate governance structure have been identified as key challenges affecting business sustainability.
General Manager, Human Resources (HR) Strategy, Organisation and Performance, Total Energies EP Nigeria Limited, Lilian Somiari, said this at this year’s Corporate Membership Forum, organised by the Chartered Institute of Personnel Management of Nigeria (CIPM), where she spoke on
‘Driving Business Sustainability through Strategic Collaboration’.
Giving a business context perspective, she said sustainability was no longer optional but a strategic imperative for survival and growth, highlighting the benefits of social and environmental impact, market expansion, and resilience as well as regulatory and compliance advantage.
Stating that despite Nigeria’s large economy, businesses face distinct regulatory, environmental, and social challenges.
According to her, strategic collaborations are not just about working together but co-creating value that supports long-term success, resilience, and sustainability.
President and Chairman of the Governing Council, CIPM, Ladan Gobir, who said that the Nigerian business terrain is tough but full of opportunities, stressed that collaboration was the currency of the future.
This, he said, could be achieved either through joint ventures, supply chain integration, or shared talent pipelines.Stating that Nigeria, with a population of over 200 million people, with 96 per cent of enterprises creating 84 per cent of jobs, he said many of them collapse within their first five years, “because while we have the numbers, we often lack the network.”
According to him, sustainability without collaboration is like trying to “cook jollof rice without pepper, it will be tasteless and unpalatable.”
For businesses, he said, they must work together to drive policies, adding that “Collaboration deepens our roots, anchors our businesses, and ensures that no storm can sweep us away. Collaboration is our lifeline, our resilience and passport to sustainable growth in Nigeria.”
