Experts at the 2026 National Corporate Governance Summit in Lagos, yesterday, called for stronger corporate governance, consistent industrial policies and effective public-private collaboration to accelerate Nigeria’s economic transformation and attract long-term investment.

Speaking on the theme, ‘Implementing Good Governance Economic Acceleration: Consolidating Public/ Private Sector Partnership’, the participants argued that good governance remains the foundation for building resilient institutions, restoring investor confidence and achieving the country’s ambition of becoming a $1 trillion economy.

Group Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said corporate governance must move beyond theory and become a practical tool for creating value, mobilising investment and transforming public institutions.

He said experience from MOFI’s portfolio companies has shown that organisations with strong governance structures, experienced boards and independent non-executive directors consistently outperform those with weak governance in value creation, capital mobilisation and investor confidence.

Takang noted that state-owned enterprises remain critical to national development, citing China as an example of how well-governed public enterprises can drive industrialisation, infrastructure development and economic growth.

He added that investors responded positively to recent MOFI investment initiatives because of the strong governance structures put in place, describing good governance as a major factor in attracting long-term domestic and foreign capital.

Also speaking, Executive Secretary and Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), Dr Rabiu Olowo, urged stakeholders to move beyond discussions and ensure that governance principles are translated into practical actions that strengthen institutions and support economic growth.

He said the annual summit has become an important platform for reviewing governance practices and developing practical solutions for both the corporate and public sectors.

President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mrs Uto Ukpanah said good governance has become a strategic necessity rather than a regulatory obligation.

She noted that countries that have achieved sustainable economic growth did so by building strong institutions, promoting accountability and encouraging collaboration between the government and the private sector.

Ukpanah observed that while Nigeria has developed several governance policies over the years, the greater challenge remains implementation.

In her keynote address, Chairman of Nigerian Breweries Plc, Juliana Anammah, called for consistent industrial policies and stronger corporate governance to move Nigeria from a lower-middle-income economy to an upper-middle-income country.

She acknowledged that recent reforms, including the removal of fuel subsidy, foreign exchange market reforms and bank recapitalisation, had helped stabilise the economy but stressed that stabilisation alone would not deliver lasting prosperity.

Anammah said Nigeria’s economic progress should be measured not only by gross domestic product but also by improvements in household income, quality jobs, healthcare, education and infrastructure.

Citing countries such as Vietnam and Morocco, she urged Nigeria to pursue long-term industrial policies that encourage industries to move beyond producing basic goods to manufacture more sophisticated, value-added products.