…… Says Nigeria Need New Digital Analytics Tools
In the face of growing digital disruptions and systemic cyber vulnerabilities, Nigeria urgently requires a new Digital Economy Resilience Analytics Tools to support institution preparedness.
Chief Executive Officer, Nigerian Economic Summit Group (NESG), Dr. Tayo Aduloju stated this while delivering the keynote speech at the Chartered Institute of Directors Nigeria (CIoD) 2025 Biennial Lecture in honour of the outgoing President and Chairman of Governing Council, Alhaji Tijani Borodo held at Eko Hotels and Suites, Victoria Island, Lagos on Tuesday.
According to him, cyber risk including cyber espionage, warfare, and infrastructure attacks is now among the top five global threats hence the need for Nigeria to be at alert.
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Aduloju who spoke on the theme: ‘Building Digital Resilience: Governance, Risk and Compliance’ ’stressed the need for the passage of e-governance legislation that allows for complete digitalization of government.
He stated that there are couple of regulatory gaps in cybersecurity law regulation that need to be improved upon and the NESG is willing and ready to walk this path with the government.
“The Nigerian Economic Summit Group remains committed to collaborate with strategic partners such as the CIoD Nigeria to ensure that Nigeria develops the necessary national capacity and bandwidth for a resilience strategy and response platform at the country level,” he said.
Citing a statistics that 58% of government corporations are under constant attack in the world by cyber threats, Aduloju however urged both government agencies and private firms to invest in digital infrastructures in a bid to tackle the prevalence of cyber insecurity.
Dr. (Mrs.) Ije jidenma, Immediate past President, Chartered Institute of Directors Nigeria, CIoD; Mr. Femi Ekundayo, 9th Past President; Chief Anthony Idigbe, Chairman of the Occasion; Alhaji Tijjani Borodo, President and Chairman of Council, CIoD Nigeria; his wife, Hajia Larai Borodo; Mrs Amina Oyagbola, Second Vice President and Mr. Adetunji Oyebanji, first Vice President during the unveiling of CIoD Nigeria new logo at the 2025 Biennial lecture of the Institute in honour of Alhaji Borodo held in Lagos.
He said that lack of investment has stunted the growth of digital infrastructure adding that there is limited digital infrastructure to match the demand in Nigeria and what has not helped is the fact that tariffs in the digital economy were pegged, especially in the telecom sector.
That means that we stopped seeing that huge investment required to scale digital infrastructure. I think now that the government has unpegged it, there’s a 50% headwind given on tariffs,” he said.
The NESG Boss said organisations should drive digital resiliency efforts and eliminate silo thinking to ensure that the team can see across department and business units to deploy technology solutions and identify any resilience gaps.
“Organisations must strive to understand and reflect on their enterprise’s resilience to face future disruptions. The global industry and market systems will continue to be volatile and susceptible for some time.
“It is critical to future proof your organisation and reduce time spent in the re-active phases of response,” he stated.
President and Chairman of Governing Council, CIoD, Alhaji Borodo said the Institute over the years has contributed meaningfully to the enhancement of corporate governance in Nigeria through meaningful conversations around corporate responsibilities and accountability with the commitment to foster vibrant community of ethical leadership.
“CIoD Nigeria presents a formidable front in the affairs of the national economy and promotes the fostering of an enabling environment for businesses to exist through its various constructive engagements with policy makers and its advocacy programmes.
He explained that his tenure was a time of turning point in the history of the institute, adding that his tenure was marked by challenges and trials, a moment of intense deliberation which in the last two years shaped CIoD to what it is now.
“Throughout this period, my primary focus has been to strengthen the institute’s position as a leading voice of corporate governance in Nigeria, champion excellent leadership and foster an environment where businesses can thrive in a suitable manner.”
He appreciated the executives for their resilience, support and commitment in shaping the Institute.
The Chairman of the event, Chief Anthony Idigbe in his remarks said with the challenges pose by cyber threats, the key takeaway for directors according to him, is the critical need of adaptability and forward thinking leaders who are ready to embrace change and innovation, with an opportunity to transform uncertainty into catalyst for sustainable long term growth”
“So when we talk about building digital resilience, it’s not just for the purpose of operations, but also as a way to be accountable because there are certain risks involved in playing your role as a director,” he explained.
A new CIoD logo was unveiled at the event with the aim for more visibility and impact in corporate governance practices, director development and advocacy.
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