Nigeria’s domestic reform agenda, improving macroeconomic conditions, inflationary spillovers from the Middle East conflict, and opportunities arising from deeper African economic integration are expected to shape the country’s economic trajectory in the second half of 2026, the Chartered Institute of Directors Nigeria (CIoD) has said.

The institute also identified improved institutional credibility and rapid digital transformation as critical factors likely to influence economic activities in the months ahead.

Speaking at the 42nd yearly general meeting of the institute in Lagos, on Thursday, President and Chairman of the Governing Council of CIoD Nigeria, Adetunji Oyebanji, said the improving macroeconomic environment, characterised by easing monetary conditions, stronger capital market performance and improved external sector stability, had created fresh opportunities for investment, expansion and access to capital.

Oyebanji noted that organisations with strong governance structures were better positioned to leverage the emerging opportunities than during the 2023–2024 economic crisis period.

According to him, the current operating environment demands more active and forward-looking governance from corporate boards, as the pace of regulatory changes continues to accelerate.

He cited key reforms such as the Nigeria Tax Act 2025, the Nigeria Data Protection Commission framework under the Nigeria Data Protection Act, and anticipated Environmental, Social and Governance (ESG) disclosure requirements, warning that organisations delaying governance adjustments could face heightened compliance risks.

Giving an overview of Nigeria’s economic performance between 2025 and 2026, Oyebanji said the country remained on an improving growth trajectory, supported by stronger macroeconomic fundamentals, far-reaching structural reforms and rising investor confidence.

He said the reforms introduced in the past year marked one of the most significant periods of economic restructuring in Nigeria’s recent history, adding that their long-term success would depend not only on government implementation but also on the quality of corporate governance.

“Directors must move beyond compliance-oriented governance and embrace strategic stewardship capable of navigating uncertainty, managing risk and creating long-term value in a rapidly evolving economic environment,” he said.

Oyebanji also highlighted Nigeria’s removal from the Financial Action Task Force grey list in the fourth quarter of the year as a major milestone for the country’s economic outlook.

He recalled that Nigeria was placed on the list in 2023 over weaknesses in its anti-money laundering, counterterrorism financing and financial intelligence systems, but noted that sustained reforms had led to the country’s exit.

He said the development had strengthened the credibility of Nigeria’s financial system and reinforced ongoing reforms aimed at deepening transparency and financial stability.

Reflecting on the institute’s performance, Oyebanji described the year under review as one of transition, renewal and meaningful progress. He said despite prevailing economic challenges, the institute remained focused on strengthening governance, deepening membership engagement, expanding strategic partnerships and enhancing leadership development.

He added that CIoD would continue to position itself as the leading authority on director development and governance excellence in Nigeria and beyond.