By Rukayat Moisemhe
Governance experts have called for structural governance and institutional reforms across Nigeria’s public and private institutions to drive sustainable economic growth and restore public trust.
They made the call on Friday following the investiture of Dr Chamberlain Peterside as the fifth Chairman of the South-South/South-East Zone of the Chartered Institute of Directors Nigeria (CIoD).
Mr George Etomi, Principal Partner, George Etomi and Partners, said sustainable economic growth depended fundamentally on the quality of leadership, ethical conduct and governance systems, in both public and private institutions.
He said while corporate governance had received significant attention in the private sector, similar principles must be entrenched in public institutions.
According to him, sound corporate governance cannot flourish in an environment characterised by weak public governance.
“A well-run organisation operating within a dysfunctional state is like a healthy person living in a polluted environment.
“Eventually, the environment weakens even the strongest institutions,” he said.
Etomi noted that governments had a responsibility to create an enabling regulatory environment that allowed businesses to thrive and markets to function efficiently.
To strengthen governance and eliminate systemic inefficiencies, he proposed four key reforms.
They included merit-based appointments into boards of state-owned enterprises and regulatory agencies, mandatory governance and ethics training for public officials.
Others are, the appointment of independent non-executive directors to public sector boards and the institutionalisation of an annual public sector governance scorecard.
He also advocated greater deployment of digital technology to improve transparency, curb corruption and enhance public sector efficiency.
According to him, Nigeria cannot build a resilient economy on weak institutional foundations.
“The question before us is whether we have the courage to embed these principles in every institution.
”This is because national progress will only be realised when public officials and private executives are held to the same high standards of ethical stewardship,” Etomi stated.
President-General, Ohanaeze Ndigbo Worldwide, Sen. John Mbata, said the prosperity of nations was determined less by natural resource endowment than by the strength of institutions that upheld the rule of law, create opportunities and sustain development beyond political cycles.
Mbata said competent, ethical and visionary directors were the driving force behind such institutions, describing the CIoD’s mission of preparing capable leaders, as critical to national development.
He urged directors to place the long-term interests of institutions above personal ambition and called on members to support the new chairman in advancing the institute’s governance agenda.
“In today’s world where public confidence in institutions is essential, the work of the institute has become even more necessary.
“Leadership is not merely about occupying an office but about creating value, inspiring people and leaving institutions stronger than they were met,” he said.
Mbata also urged members to support the new chairman and continue promoting competence, accountability and long-term vision in governance.
CIoD Nigeria President, Mr Adetunji Oyebanji, said the institute remained committed to strengthening governance advocacy and building institutional capacity across its branches.
He commended the outgoing executive committee for laying a solid foundation for the branch, while
urging the new leadership to build on its achievements with integrity, innovation and inclusiveness.
Oyebanji also encouraged members to participate actively in branch meetings, professional development programmes, mentoring initiatives and governance advocacy.
He then called on corporate organisations and stakeholders to support the institute’s activities.
In his remarks, Chief Serena-Dokubo Spiff, King of Ada Ama, Twon Brass, Bayelsa, described leadership as central to national economic development.
He said directors must provide purposeful leadership capable of strengthening institutions and businesses to drive wealth creation and national prosperity.
In his acceptance speech, Peterside pledged to prioritise ethics, professional development and membership engagement during his tenure.
He said the branch would implement programmes focusing on capacity building, youth and women development, social engagement and institutional strengthening.
Peterside assured members that his leadership would be guided by ethical standards and a commitment to making the branch more impactful and attractive to existing and prospective members.
He expressed appreciation for the confidence reposed in him and assured members that his leadership would be dedicated to advancing the institute’s values and contributing to national development. (NAN)
Edited by Chinyere Nwachukwu