Shift from oversight to foresight critical for Nigeria’s economic transformation — Minister Enoh

…​As CIoD chair, Eshiett seeks stronger corporate governance culture

By Progress Godfrey

ABUJA – ​The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, has stated that Nigeria must transition from basic administrative oversight to strategic foresight to achieve its long-term economic transformation goals.

​He stated this during the investiture of Mrs Rose Eshiett as the new Chairman of the Chartered Institute of Directors (CIoD) Nigeria, Abuja Zone, and the inauguration of the 11th Executive Committee held in Abuja on Thursday night, which focused on driving sustainable value in uncertain times.

​Enoh explained that directors across public and private sectors serve as critical instruments for service delivery, making the role of institutions like the CIoD vital in shaping governance outcomes.

​”The model of oversight and all of that is long expired. It is the initiative and the foresight of leadership that is going to make the difference in corporate organisations, even in government establishments,” Enoh said.

​The minister added that the current administration under President Bola Ahmed Tinubu is reflecting this forward-looking approach through the bold decisions taken to aspire toward a $1 trillion economy under the Renewed Hope Agenda.

​He concluded that navigating the current uncertain domestic and global environments requires visionary leadership initiatives rather than relying on outdated regulatory models.

​In her remarks, the newly inaugurated Chairman of CIoD Abuja Zone, Mrs Rose Eshiett, expressed her readiness to lead the zone into a new era driven by a clear three-pronged developmental agenda.

Identifying her primary focus areas, she said, ​”Not so many people know that the CIoD exists in Nigeria. So we want it more visible because of the advantages it carries. And the other one is also to increase in membership, because Nigeria is at a stage where we need good governance, ethical leadership and boardroom excellence.

​”The third one is revenue generation. You can’t do these programmes without money. So one of the visions is to make sure there’s increased revenue so that we can be able to run all those programmes we have in mind to improve boardroom excellence and ethical excellence.”

​Drawing from her 35-year corporate background at the NNPC, Eshiett committed to using her position to deepen corporate governance training and mentoring for key decision-makers and rule-makers in Nigeria.

​Also speaking, the Head of the Civil Service of the Federation, Mrs Esther Walson-Jack, commended the new executive committee and emphasised that the federal civil service is currently pursuing a transformation agenda anchored on professionalism, innovation, and accountability.

​Walson-Jack called for a deeper partnership between her office and the CIoD to enable federal permanent secretaries and senior public servants to benefit from governance training, noting that boardroom excellence in the public sector must translate directly into impactful results for citizens.

​On his part, the President and Chairman of the Governing Council of CIoD Nigeria, Otunba Adetunji Oyebanji, stated that corporate boards run the core of Nigeria’s economy, explaining that the decisions taken by individual directors ultimately impact the nation’s macroeconomic health.

​Oyebanji added that the CIoD is actively collaborating with entities like the Ministry of Finance Incorporated to build the capacity of directors in publicly owned companies and mitigate the negative impacts of political interference.

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