Lagos: Chartered Institute of Directors (CIoD) Nigeria has outlined the key factors shaping Nigeria’s economic outlook for the second half of 2026, emphasizing ongoing economic reforms, Middle East tensions, African economic integration, and digital transformation. CIoD President, Mr. Adetunji Oyebanji, shared these insights during the institute’s 42nd Annual General Meeting in Lagos.
According to News Agency of Nigeria, Oyebanji highlighted that Nigeria’s economic trajectory remains positive, bolstered by improving macroeconomic conditions, enhanced investor confidence, and gains from recent structural reforms. He noted that the momentum from the domestic reform program is expected to support economic growth and business expansion in the coming months. However, inflationary spillovers from ongoing Middle East conflicts could pose risks to both global and domestic prices.
Oyebanji identified three main developments shaping the remainder of 2026: continued domestic reform momentum, deeper African economic integration, and rapid digital transformation. He pointed out that these factors, coupled with improved institutional credibility, are creating new opportunities for investment and access to capital, especially for businesses with strong governance structures.
The CIoD president also reviewed Nigeria’s economic progress in 2025 and 2026, stating that stronger macroeconomic fundamentals, major structural reforms, and rising investor confidence are laying a stable foundation for medium- and long-term economic growth. He described 2025 as a significant period of economic restructuring in Nigeria’s recent history but emphasized that the long-term success of these reforms depends on effective implementation and strong corporate governance.
Oyebanji presented findings from the institute’s 2025 corporate governance outlook, revealing gaps in environmental, social, and governance (ESG) reporting and risk oversight. Only 42% of organizations disclosed ESG performance metrics, and just 21% linked executive compensation to sustainability performance. He urged corporate boards to adopt forward-looking governance practices to meet evolving regulatory requirements.
Dr. Taiwo Nolas-Alausa, Director-General of CIoD Nigeria, commented on the institute’s strong institutional performance amid economic uncertainties. He mentioned that inflationary pressures, foreign exchange volatility, and fiscal adjustments impacted operating costs. In response, the institute strengthened financial controls, optimized resource allocation, and modernized its digital infrastructure, integrating artificial intelligence tools to enhance service delivery.
Honorary Treasurer Mrs. Funmi Oyetunji reported a 228% increase in the institute’s total assets in 2025, driven by property revaluation, strategic investments, and infrastructure expansion, despite challenging economic conditions.