…NECA, ILO launch report
Stakeholders in Nigeria’s private sector have called for urgent action to unlock the country’s Environmental, Social and Governance (ESG)-driven potential and position the nation more competitively on the global stage.
They made the call during the launch of the ESG State of Play Report in Nigeria, developed by the Nigeria Employers’ Consultative Association (NECA) in collaboration with the International Labour Organisation (ILO) under the LEADER programme, aimed at strengthening employers’ capacity and participation in ESG practices.
Adewale-Smatt Oyerinde, the director-general of NECA, speaking at the launch,
said the business landscape had evolved significantly, making ESG factors central to organisational sustainability, competitiveness and long-term value creation.
According to Oyerinde, for corporations, financial institutions, regulators, and the country’s Micro, Small and Medium Enterprises (MSMEs) sector, ESG adoption has become “an imperative” aligned with national development priorities and global best practice.
While acknowledging that awareness of ESG remains low across Nigeria’s business space, the DG said NECA plans to deepen collaboration with organisations already working in the ESG space. This, he noted, would help strengthen resilience, drive innovation and open new financial opportunities for compliant businesses.
“After the launch, we will constitute the NECA-ESG Advisory Board involving compliant organisations to engage others on the imperative of ESG,” he added.
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Titilayo Oshodi, the special adviser on Climate Change and Circular Economy to the Lagos State Government, described ESG as a crucial driver of business longevity, investor confidence, global competitiveness and national development. She revealed that global ESG-related assets surpassed $30 trillion in 2024, influencing consumer trust, supply-chain partnerships, access to international markets and organisational reputation.
With Nigeria experiencing rapid urbanisation, resource pressure and an energetic youth population, Oshodi said embracing ESG presents significant potential for sustainable growth. According to her, companies that embed ESG principles enjoy improved brand loyalty, reduced operational risks, lower cost of capital and broader market access.
“For Lagos and Nigeria, ESG is essential for climate resilience, environmental protection and economic modernisation,” she said.
Reaffirming the ILO’s commitment, Julie Kazagui, senior specialist for Employers’ Activities, said the organisation’s partnership with NECA is designed to support responsible, inclusive and future-ready enterprises. She described the new report as a roadmap offering evidence-based insights into Nigeria’s ESG integration levels, identifying gaps, opportunities and actionable recommendations for businesses, policymakers and investors.
“It will serve as a critical reference for advocacy, policy dialogue and capacity building,” she said.
Also, Odiri Erewa-Meggison, external affairs director for BAT West and Central Africa, described ESG as the “bedrock of responsible enterprise development” in an increasingly complex global environment.
She identified the shortage of technical expertise as a major barrier to ESG adoption and called for the grooming of sustainability professionals capable of guiding Nigerian businesses.
“There is a growing pipeline of talent ready to help your organisations navigate this complex landscape. ESG is now a financial imperative,” she said.
Erewa-Meggison emphasised that the insights from the report should drive new partnerships to unlock Nigeria’s ESG-driven potential and shape a sustainability roadmap that strengthens employer engagement and national growth.
On her part, Chinyere Almona, director-general, Lagos Chamber of Commerce and Industry (LCCI), noted that organisations that integrate ESG principles into their frameworks often demonstrate stronger risk management, long-term service relationships and better talent retention.
She said this aligns with the core of sustainable development and urged stakeholders to ensure ESG contributes to business competitiveness and national economic growth.
