•Govt to map 8,809 wards to drive 2026-2030 national development plan
President Bola Tinubu has reaffirmed his administration’s commitment to driving inclusive growth, economic diversification, and good governance, urging business leaders to lead with integrity, innovation, and foresight in times of change.
Speaking at the Chartered Institute of Directors Nigeria (CIoD) national corporate governance and leadership conference, themed: “Leading Through Change: Creating Sustainable and Inclusive Enterprises,” the President described the forum as one of the country’s most important platforms for dialogue on corporate governance, leadership, and enterprise development.
He noted that the theme was timely as Nigeria continues to undertake bold reforms to align with global economic shifts, technological disruptions, and climate challenges.
According to him, the government’s current reform measures — including the removal of fuel subsidies, exchange rate unification, and tax reforms — are yielding tangible results such as declining inflation, rising domestic production, and renewed investor confidence.
Represented by the Minister of Budget and National Planning, Abubakar Bagudu, the President added: “Leading through change is not about maintaining the status quo, but about charting a bold, inclusive, and forward-looking path. We must show that resilience and profitability can coexist with responsibility and fairness.”
Highlighting youth empowerment as a national priority, he noted that with over 60 per cent of Nigeria’s population under 25, the government is investing heavily in MSMEs, renewable energy, sustainable agriculture, and digital infrastructure to harness young people’s creativity and innovation.
President Tinubu hinted that the government would embark on the mapping of economic opportunities across Nigeria’s 8,809 wards to drive bottom-up planning for the 2026–2030 National Development Plan, ensuring local economic activities inform state and national budgets.
President Tinubu reiterated the administration’s goal of achieving a $1 trillion economy, anchored on institutional reforms, private sector participation, and targeted investment in creative industries, solid minerals, and the digital economy.
Commending the Institute of Directors for promoting corporate ethics and good governance, he called for deeper collaboration between government and the private sector in building a transparent, accountable, and resilient economy.
“For us as a country, leading through change is not optional but a national imperative,” he said. “Together, we can build a future that rewards innovation, responsibility, and sustainable growth,” the President stated.
On his part, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, noted that the present government embarked on bold fiscal and economic reforms to restore stability, strengthen institutions, and improve efficiency.
Represented by the Director, Economic Policy, Ministry of Finance, Mrs Ndidi Chinonyelum, cited the rising economic activity and renewed investor confidence as evidence of the positive impacts of the reforms.
According to him, transfers from the Federation Account Allocation Committee (FAAC) increased from 7.6 per cent of GDP in the first eight months of 2024 to 9.5 per cent in the same period of 2025, reflecting improved tax administration and the removal of fuel subsidies.
He equally noted that the fiscal deficit has narrowed to 4.8 per cent of GDP in 2025, from 5.6 per cent last year, while tighter coordination between fiscal and monetary policies is stabilising the foreign exchange market and rebuilding external reserves.
He said the broader reform agenda is anchored on economic diversification, digital transformation, and sectoral growth, particularly in agriculture, manufacturing, creative industries, and renewable energy, which drive inclusive prosperity and job creation.
He added, “For Nigeria, these changes represent both formidable challenges and unprecedented opportunities. The question before us is not whether change will come, but how we lead through it.
In his intervention, President and Chairman of the governing council of CIoD, Adetunji Oyebanji, reaffirmed the Institute’s dedication to promoting sound corporate governance, ethical leadership, and enterprise sustainability as vital drivers of national development.
Oyebanji argued that economies with strong private sector credit, ESG integration, and inclusive business models experience higher levels of equitable growth and resilience.
He observed that these align with Nigeria’s public and private sector initiatives promoting access to finance for women and youth, renewable energy, fintech, and MSME growth.
“SMEs contribute nearly 50 per cent of Nigeria’s GDP and 75 per cent of employment, according to NBS and SMEDAN data. They remain the backbone of inclusive growth. However, policy inconsistencies, infrastructure gaps, and limited access to affordable finance continue to challenge enterprise development. Addressing these requires stronger public–private partnerships, capacity building, and innovative financing models.” He maintained that inclusive and sustainability-driven business practices are critical for equitable and lasting prosperity.
