Nigeria needs credible governance to attract investment, says minister

Nigeria needs to bolster its corporate governance and institutional credibility to draw in long-term investment and foster globally competitive industries, stated John Enoh, the Minister of State for Industry, Trade and Investment. Speaking at an event in Abuja, Enoh highlighted that robust governance is fundamental to industrial progress, attracting investment, and driving economic growth.

"No nation can build globally competitive industries without strong institutions. No economy can attract patient capital without credible governance," Enoh asserted. He stressed that as Nigeria aims for industrial expansion and private-sector-led transformation, the quality of leadership in both public and private sectors will be the deciding factor in its success. He described good governance not as an abstract ideal but as the bedrock for enduring institutions and the discipline that transforms ambition into performance.

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No nation can build globally competitive industries without strong institutions. No economy can attract patient capital without credible governance.

The minister added that Nigeria's future hinges on boardroom decisions, the integrity of corporate leaders, and their dedication to transparency and accountability. The Federal Ministry of Industry, Trade and Investment is prioritizing productivity, value addition, and competitiveness. However, Enoh cautioned that policies alone cannot yield lasting results without ethical leadership and sound governance.

Also addressing the importance of strong institutions, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, noted that the civil service is undergoing reforms focused on professionalism, innovation, digitalization, accountability, and citizen-centric service delivery. She called for enhanced collaboration with the Chartered Institute of Directors to provide governance training for senior civil servants.

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Good governance is not an abstract ideal. It is the foundation upon which enduring institutions are built. It is the discipline that turns ambition into performance, enterprise into legacy, and leadership into public trust.