Lagos: 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).
According to News Agency of Nigeria, Mr. George Etomi, Principal Partner at George Etomi and Partners, emphasized that sustainable economic growth fundamentally depends on the quality of leadership, ethical conduct, and governance systems in both public and private institutions. He highlighted the need for public institutions to adopt principles of corporate governance, which have already gained significant attention in the private sector. Etomi stated that sound corporate governance cannot thrive in an environment characterized by weak public governance, likening it to a healthy person living in a polluted environme
nt, which eventually weakens even the strongest institutions.
Etomi further noted that governments are responsible for creating an enabling regulatory environment that allows businesses to thrive and markets to function efficiently. To strengthen governance and eliminate systemic inefficiencies, he proposed four key reforms: merit-based appointments into boards of state-owned enterprises and regulatory agencies, mandatory governance and ethics training for public officials, appointment of independent non-executive directors to public sector boards, and the institutionalization of an annual public sector governance scorecard. He also advocated for the greater deployment of digital technology to improve transparency, curb corruption, and enhance public sector efficiency.
Sen. John Mbata, President-General of Ohanaeze Ndigbo Worldwide, remarked on the importance of strong institutions in determining national prosperity, rather than natural resource endowment. He described the CIoD’s mission of preparing compet
ent, ethical, and visionary directors as crucial to national development, urging directors to prioritize the long-term interests of institutions over personal ambitions. Mbata also called on members to support the new chairman in advancing the institute’s governance agenda, emphasizing that leadership is about creating value, inspiring people, and leaving institutions stronger than they were found.
Mr. Adetunji Oyebanji, CIoD Nigeria President, reiterated the institute’s commitment to strengthening governance advocacy and building institutional capacity across its branches. He commended the outgoing executive committee for establishing a solid foundation and urged the new leadership to build on its achievements with integrity, innovation, and inclusiveness. Oyebanji encouraged members to actively participate in branch meetings, professional development programs, mentoring initiatives, and governance advocacy, calling on corporate organizations and stakeholders to support the institute’s activities.
Chief Se
rena-Dokubo Spiff, King of Ada Ama, Twon Brass, Bayelsa, underscored the central role of leadership in national economic development. He stated that directors must provide purposeful leadership to strengthen institutions and businesses, thereby driving wealth creation and national prosperity.
In his acceptance speech, Dr. Chamberlain Peterside pledged to prioritize ethics, professional development, and membership engagement during his tenure. He outlined plans to implement programs focused on capacity building, youth and women development, social engagement, and institutional strengthening. Peterside thanked members for their confidence in his leadership and expressed his commitment to advancing the institute’s values and contributing to national development.