Lagos: Prof. Olayinka David-West, Dean at Lagos Business School, has called for genuine inclusive leadership, stating Nigeria’s economy requires more than token representation to progress. She made this call during the Chartered Institute of Directors (CIoD) Nigeria’s induction ceremony for new members held Thursday night in Lagos.
According to News Agency of Nigeria, the theme of the event was ‘Diversity in the Boardroom: Moving Beyond Tokenism’. Tokenism refers to symbolic gestures, like hiring a few individuals from under-represented groups to create a false appearance of equality within the workplace. David-West emphasised that inclusion should go beyond optics or ticking boxes. She described diversity as vital to both business success and governance, noting that inclusion must empower all voices to actively shape board-level decisions and overall organisational direction.
David-West highlighted that companies with more women on their boards often report better financial performance across several metrics. She noted that a 20 per cent rise in female board membership correlates with a four per cent increase in Return on Assets (RoA). According to her, this shows that diversity not only boosts innovation but also drives profitability and competitiveness. She added, ‘Closing gender gaps could contribute an extra $229 billion to Nigeria’s Gross Domestic Product (GDP) by 2025.’
She explained that diverse teams offer more creativity and problem-solving capacity, enhancing business adaptability in changing markets. However, she listed key barriers to inclusion: entrenched social norms, patriarchy, lack of readiness, and weak policy enforcement. Other issues include data deficiencies, lack of accountability, recruitment bias, and limited access to leadership networks. David-West urged organisations to move beyond numbers and token efforts by setting measurable diversity goals and monitoring outcomes.
CIoD President, Mr Adetunji Oyebanji, echoed the importance of this theme, describing it as more than a slogan but a call to act and commit. He pointed out that diversity discussions often stop at statistics, with little regard for real representation or structural inclusion. He noted the trend of placing one woman or one minority figure in leadership simply to satisfy compliance requirements.
Addressing the inductees, Oyebanji described them as part of a vibrant, forward-looking professional community. He praised their fresh perspectives and unique experiences, which he believes would enrich CIoD Nigeria’s collective journey. He urged them to stay committed to CIoD’s growth, supporting ethical and sustainable business practices across the country.