Nigeria Needs Credible Governance to Attract Investment – Enoh

The Minister of State for Industry, Trade and Investment, John Enoh, has said Nigeria must strengthen corporate governance and institutional credibility to attract long-term investment and build globally competitive industries.

 

Enoh made the remark on Thursday in Abuja at the 11th Executive Committee Investiture Ceremony of the Abuja Zone of the Chartered Institute of Directors (CIoD) Nigeria, where Rose Eshiett was inaugurated as chairman of the zone.

 

The minister said strong governance remains critical to industrial transformation, investment attraction and sustainable economic growth.

 

“No nation can build globally competitive industries without strong institutions. No economy can attract patient capital without credible governance. No enterprise can endure without sound boards, disciplined management, transparent reporting and responsible leadership,” Enoh said.

 

He stressed that the quality of leadership in both public and private institutions would play a decisive role in determining Nigeria’s economic future.

 

According to him, good governance is the foundation of enduring institutions and public trust, adding that policies alone cannot deliver meaningful results without ethical leadership and accountability.

 

Also speaking, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, underscored the importance of professionalism, innovation, digitalisation and accountability in driving national development.

 

She called for greater collaboration between the Civil Service and the Chartered Institute of Directors to strengthen governance training and leadership development among senior public officials.

 

Delivering the keynote address, NNPC Limited board member Bello Rabiu urged corporate boards to adapt to growing global uncertainties, including geopolitical tensions, economic volatility and technological disruption.

 

Rabiu said directors must move beyond reviewing past performance and focus on anticipating future risks through strategic planning and enterprise-wide risk management.

 

Representing businessman Tony Elumelu, the Managing Director and Chief Executive Officer of Transcorp Hotels Plc, Uzo Oshogwe, said Nigeria requires stronger institutions and visionary leadership to achieve meaningful economic growth.

 

“The choice of leadership matters, especially at a time when our country requires stronger institutions, greater accountability and more visionary leadership,” she said.

 

Oshogwe noted that corporate leaders are increasingly expected to create jobs, strengthen institutions and contribute to society, in addition to generating profits.

 

Earlier, the President and Chairman of the Governing Council of CIoD Nigeria, Adetunji Oyebanji, described the Abuja Zone as strategically important because it serves as a link between governance, public policy, business leadership and national development.

 

“The future of Nigeria’s organisations, public and private alike, will depend significantly on the quality of governance we nurture today,” he said.

 

The immediate past Chairman of the Akwa Ibom State Traditional Rulers Council, HRM Odidem Bassey Etim Edet, also emphasised the connection between governance, investment and prosperity.

 

“When governance improves, investment grows. When investment grows, jobs are created. When jobs are created, families prosper. When families prosper, communities thrive,” the monarch said.

 

In her acceptance speech, newly inaugurated Abuja Zone Chairman Rose Eshiett pledged to strengthen the institute’s role in promoting corporate governance, leadership development and policy advocacy.

 

She unveiled a three-point agenda centred on membership growth, strategic visibility and institutional sustainability, while promising to deepen engagement with government agencies, regulators, development partners and the private sector.

 

“Together, we can deepen the culture of good governance, strengthen board effectiveness, promote ethical leadership and contribute meaningfully to national development,” Eshiett said.