The Chartered Institute of Directors of Nigeria (CIoDN) has called on the Federal Government to maintain spending discipline, boost local production, and strengthen governance as the key drivers of economic growth in 2026.
The Director-General of CIoDN, Dr. Taiwo Nolas-Alausa, made these remarks over the weekend in Lagos during the presentation of the institute’s New Year Economic Report.
He highlighted that with modest growth projected in advanced economies, emerging markets like Nigeria bear a greater responsibility for driving growth through internal reforms and productivity improvements.
Nolas-Alausa described 2025 as a transitional year in Nigeria’s historic reform journey.
He noted that policy measures implemented since May 2023 had contributed to economic stabilisation, accelerated the digitalisation of public services, and strengthened the macroeconomic framework.
He specifically lauded recent fiscal reforms, including key tax legislation, foreign exchange management reforms, GDP rebasing, and financial sector transformations.
He further highlighted that the ongoing bank recapitalisation exercise, which has injected over N2.5 trillion into the financial system, and the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, were enhancing financial stability and positioning Nigeria on a sustainable path toward a one-trillion-dollar economy.
Addressing ongoing global economic constraints such as subdued growth, rising protectionism, and geopolitical tensions, Nolas-Alausa stated that Nigeria must consolidate reforms and tackle security challenges to unlock its full economic potential.
He commended the priorities outlined in President Bola Tinubu’s New Year message, stressing the need for coordinated fiscal, monetary, and trade policies to ensure predictability and confidence in economic management.
The CIoD Director-General identified three key areas of focus for directors and industry leaders: strategic alignment with national priorities such as food security and financial inclusion; fiduciary responsibility and tax compliance; and sustainability.
He urged Nigerians to entrench a culture of discipline and ethical leadership, warning that while policy direction is clear, collective commitment is required to harness these gains for long-term prosperity.