The outgoing President, Chartered Institute of Directors Nigeria (CIoD), Alhaji Tijjani Borodo, has expressed optimism that Nigeria will likely lead Africa’s economic growth in the coming years.
Borodo made the assertion during the institute’s 41st Annual General Meeting (AGM) on Thursday in Lagos.
This, he, stated could be achieved by prioritising internal economic diversification, investing in human capital, and fostering technological innovation.
He noted that Nigeria’s economy in 2024 displayed a blend of growth opportunities and significant challenges.
Borodo said directors should monitor shifts in global trade, particularly with Asia, and be cautious of risks such as fluctuating commodity prices.
“Africa’s emerging markets present new opportunities, but Nigeria must diversify its economy, focusing on sectors such as agriculture and renewable energy to reduce its dependence on oil and secure long-term growth.
“By leveraging global trends and emphasising internal development, Nigerian firms can effectively navigate the evolving economic landscape,” he said.
Borodo noted that in spite of the persistent volatility in the global economic environment and the multifaceted challenges facing Nigeria in 2024, CIoD remained resilient and proactive in fulfilling its mandate.
He said the institute continued to demonstrate relevance and strategic leadership within Nigeria’s business and governance landscape, reinforcing its reputation as the nation’s premier voice on corporate governance and boardroom excellence.
“As we build on this foundation, our collective task remains clear: to deepen our relevance, expand our influence, and fortify our capacity to deliver value to our members and the broader Nigerian business ecosystem.
“The journey toward a globally aligned, sustainable, and future-ready Institute is well underway, and the gains recorded in 2024 signal that we are firmly on the right path,” he said.
The outgoing president, presenting key highlights of his stewardship, listed some of his achievements to include the formal transition to CIoD Nigeria, governing council strategy retreat and branch restructuring process.
Others, he stated, included relocation of its head office to Abuja, engagement with key ministries and agencies, CIoD house projects and launch of CIoD mentoring scheme, among others.
“The period under review, spanning our transition from Institute of Directors Nigeria to the CIoD has been both demanding and deeply rewarding.
“From reconstituting the governing council and launching sectoral groups to unveiling a new brand identity, and setting a new strategic plan and roadmap for CIoD, we have laid solid foundations for a more future-ready institute,” he said.
Borodo also lauded the CIoD council members and the secretariat for their insight, unwavering commitment, willingness to engage in robust but constructive discourse, and steadfast support.
He said their dedication to the ideals of good corporate governance was not just professional; but was genuinely inspiring.
“As I prepare to hand over the baton, I do so with immense confidence in the future of the CIoD Nigeria.
“The institute is not just strong; it is on a vibrant trajectory, truly poised for even greater impact and influence under the incoming leadership.
“The foundations we have laid together are solid, and the path forward is clear and I urge every one of you to continue nurturing the spirit of collaboration, innovation and ethical leadership,” he said.
News Men reports that CIoD total assets rose to N4.61 billion in 2024 up by 27 per cent from N3.64 billion in 2023.
The institute also recorded a surplus of N798.83million up by against N400.17 million in 2023, an increase of 100 per cent