Kwairanga Tasks Nigerian Leaders on Strong Institutions, Succession Planning

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has urged Nigerian leaders to prioritise strong institutions, accountability, good governance and succession planning to drive sustainable economic growth and national development.

Kwairanga said Nigeria’s ability to translate its abundant natural resources, entrepreneurial spirit and human capital into lasting economic progress depended largely on the quality of leadership within its public and private institutions.

He made the call while delivering his remarks as chairman at a leadership event organised by SixthSense Leadership at the Oriental Hotel, Lagos, where business leaders, policymakers and professionals gathered to discuss leadership and national development.

According to him, leadership should be measured not only by the achievements recorded during an individual’s tenure but also by the strength of the institutions built and the opportunities created for future generations.

“Our country is blessed with an enterprising population, considerable natural resources and a growing pool of talented professionals. Yet, the ability to convert these advantages into sustainable economic growth depends on the decisions we make, the institutions we build and the values that guide those entrusted with responsibility,” he said.

The NGX Group chairman described leadership as a form of stewardship that demands a commitment to building institutions capable of enduring beyond the tenure of their leaders.

He noted that Nigeria was navigating significant economic and structural changes driven by technological advancements, demographic pressures, changing public expectations and an increasingly interconnected global economy.

These developments, he said, required leaders who were adaptable, disciplined and open to new approaches without compromising integrity, accountability and good governance.

Kwairanga stressed that strong institutions remained critical to economic competitiveness, investor confidence and sustainable business growth.

Drawing from his experience in the capital market, he explained that investors committed capital not merely because business opportunities existed but because they trusted the institutions, systems and governance structures supporting those opportunities.

“Financial markets thrive where there is confidence, transparency and consistency,” he said, adding that the same principles applied to businesses and public institutions seeking to attract investment and earn public trust.

He said businesses were better positioned to attract investment when they demonstrated sound governance and credible leadership, while public institutions gained legitimacy when they operated transparently and discharged their responsibilities effectively.

According to him, institutional strength also provides continuity and stability, even when individuals and administrations change.

Kwairanga reaffirmed the role of the Nigerian capital market in supporting enterprise, facilitating capital formation and expanding access to economic opportunities, noting that these objectives required continuous institutional development, collaboration and sustained investor confidence.

He added that the future performance of the Nigerian economy would depend significantly on the quality of individuals entrusted with leadership positions across the country’s institutions.

On succession planning and talent development, the NGX Group chairman urged leaders to invest deliberately in developing the next generation of professionals, describing Nigeria’s young population as a significant reservoir of talent.

He, however, cautioned that talent alone was insufficient without access to mentorship, practical experience and opportunities to assume responsibility.

Kwairanga said those occupying leadership positions had a duty to create environments where younger professionals could contribute ideas, challenge established assumptions constructively and develop the judgement required for higher responsibilities.

The NGX Group chairman also called for stronger collaboration among government, the private sector and professional institutions, arguing that Nigeria’s economic challenges could not be resolved by any one sector acting independently.

He said sustainable progress required a shared understanding of national priorities and a willingness among stakeholders to work across institutional and sectoral boundaries.