Governance experts have called for structural governance and institutional reforms across Nigeria’s public and private institutions to drive sustainable economic growth and restore public trust.

They made the call on Friday in Lagos, in a communique from the investiture of Chamberlain Peterside as the fifth chairman of the South-South and South-East zone of the Chartered Institute of Directors Nigeria.

George Etomi, principal partner at George Etomi and Partners, said sustainable economic growth depended fundamentally on the quality of leadership, ethical conduct, and governance systems in both public and private institutions.

He said that while corporate governance had received significant attention in the private sector, similar principles must be entrenched in public institutions. According to him, sound corporate governance cannot flourish in an environment characterised by weak public governance.

Mr Etomi noted that governments had a responsibility to create an enabling regulatory environment that allowed businesses to thrive and markets to function efficiently. To strengthen governance and eliminate systemic inefficiencies, he proposed four key reforms.

They included  merit-based appointments to boards of state-owned enterprises and regulatory agencies and mandatory governance and ethics training for public officials. Others are the appointment of independent non-executive directors to public sector boards and the institutionalisation of an annual public sector governance scorecard.

He also advocated greater deployment of digital technology to improve transparency, curb corruption, and enhance public-sector efficiency. According to him, Nigeria cannot build a resilient economy on weak institutional foundations.

The president-general of Ohanaeze Ndigbo Worldwide, John Mbata, said the prosperity of nations was determined less by natural resource endowment than by the strength of institutions that uphold the rule of law, create opportunities, and sustain development beyond political cycles.

Mr Mbata said competent, ethical and visionary directors were the driving force behind such institutions, describing the CIoD’s mission of preparing capable leaders as critical to national development. He urged directors to place the long-term interests of institutions above personal ambition and called on members to support the new chairman in advancing the institute’s governance agenda.

Mr Mbata also urged members to support the new chairman and continue promoting competence, accountability and long-term vision in governance.

CIoD Nigeria president, Adetunji Oyebanji, said the institute remained committed to strengthening governance advocacy and building institutional capacity across its branches.

He commended the outgoing executive committee for laying a solid foundation for the branch, while urging  the new leadership to build on its achievements with integrity, innovation and inclusiveness.

Mr Oyebanji also encouraged members to participate actively in branch meetings, professional development programmes, mentoring initiatives and governance advocacy. He then called  on corporate organisations and stakeholders to support the institute’s activities.

Serena-Dokubo Spiff, King of Ada Ama, Twon Brass, Bayelsa, described leadership as central to national economic development. He said directors must provide purposeful leadership that strengthens institutions and businesses to drive wealth creation and national prosperity.

(NAN)