Nigerian boardrooms must evolve to drive inclusive, sustainable national prosperity, says Udoma
The Chairman of Seplat Energy Plc, Senator Udoma Udo Udoma, has called on corporate boards across Nigeria to reposition themselves for the rapidly evolving global economy, stressing that the quality of decisions taken in boardrooms will have far-reaching implications for economic growth, job creation, innovation and national prosperity.
Delivering a keynote address titled “Reimagining the Boardroom for Inclusive and Sustainable National Prosperity in the New Economy” at a Chartered Institute of Directors (CIoD) 2026 Annual Directors Conference held in Lagos, Udoma said companies, although private institutions, play a critical role in shaping the wider economy through their investment, employment, innovation and governance decisions.
According to him, Nigeria’s future will be shaped not only by decisions taken in government ministries, legislative chambers and policy forums, but also by decisions made in boardrooms across the country.
“Every time a board approves a major investment, it contributes to economic growth. Every time a board invests in people, it influences future leadership. Every time a board supports innovation, it strengthens competitiveness. Every time a board insists on integrity and accountability, it strengthens trust in the wider economy,” Udoma said.
He stressed that while technological change, artificial intelligence (AI), the energy transition, climate change, geopolitical developments and changing stakeholder expectations are transforming the business environment, the fundamental responsibilities of directors remain unchanged.
Udoma therefore urged directors to maintain a firm grasp of their fiduciary responsibilities and continually refresh their knowledge of corporate governance requirements, particularly as investors and regulators increasingly demand accountability from boards and individual directors.
Udoma also underscored the continuing relevance of Environmental, Social and Governance (ESG) principles, arguing that despite changing international sentiment around ESG, sustainability considerations remain important to corporate resilience, competitiveness and long-term value creation.
“At Seplat, we are committed to ESG principles. We believe that we must integrate Environmental, Social and Governance considerations into strategic decision-making,” he said, adding that ESG continues to influence access to capital, investor confidence and operational resilience.
