Nigeria must turn global shocks into competitive advantage – Experts

By Henry Uche

As global economic uncertainties continue to ripple across borders and disrupt businesses, corporate directors are being urged to embrace a more strategic role of anticipating emerging risks, strengthening resilience and transforming macroeconomic challenges into sustainable competitive advantages for their organisations.

Speaking at the 2026 Fellows’ Luncheon of Chartered Institute of Directors (CIoD), the chairman of the Fellows & Awards Committee, Alhaji Tijjani Borodo, reminded corporate leaders that they are navigating an era where economic boundaries are being redrawn, and traditional governance models are being tested like never before.

Against old fashion, Borodo stressed that the walls of traditional boardrooms have effectively been dissolved, now they stand at a complex, fast-moving intersection where macro-politics, international trade, and corporate execution clash.

“Diplomacy is no longer a game played exclusively by ambassadors and state actors. Today, corporate leaders must possess diplomatic acumen. We must understand how shifting geopolitical alliances, regional trade pacts, and international sanctions impact our businesses.

“Trade has transformed from a simple matter of logistics and supply chains into a complex puzzle of resource nationalism, regional protectionism, and digital integration. As directors, we must look beyond our borders to understand how global trade vulnerabilities can be transformed into local market advantages”

He added that corporate strategies must serve as living blueprints, capable of pivoting smoothly when global currents shift, while remaining anchored to ethics and sustainability.

“We are no longer permitted to operate solely within the comfort of traditional balance sheets. A policy shift on one continent can disrupt a supply chain on ours within hours. It is our duty as directors to act as the ultimate navigators at this crossroads, transforming macroeconomic risks into resilient, long-term corporate advantages” he admonished.

Speaking on the theme: ‘Directors at the Crossroad of Diplomacy, Trade and Corporate Strategy’, the Founder/Chairman of Phillips Consulting. (pcl.), Foluso Phillips, explained that corporate strategy in a volatile world is to build redundancy and resilience, diversify geographically, study the political environment and geopolitical intelligence as core competence and new imperatives.

Phillips noted that organisations that engage intelligently with government, understanding how it thinks, what it needs, and how to operate within its logic, hold a structural advantage. “Government quotient is not about lobbying. It is institutional literacy.

“Director’s specific responsibilities build external relationships, explore geopolitical exposure, encourage, develop, and integrate with the SME value chain that must serve Nigeria under AfCFTA as well as contribute to the broader environment in which our businesses operate.”

He added that diplomacy is a long-term relationship capital corporate captains must prioritize while anticipating a new political and diplomatic environment. “Geopolitical Intelligence is a core capability. Nigeria is not short of intelligence, talent or ambition. What it needs is the disciplined, sustained, collaborative effort that translates individual capability into institutional strength.

“We must ask the hard questions, build the external relationships our strategies require and hold ourselves to the standard Nigeria’s reputation demands. Nigeria’s place in the world will be determined by the cumulative quality of the decisions made by corporate leaders,” he reiterated.

On his part, the President/Chairman of Governing Council, Otunba Adetunji Oyebanji, alarmed that the modern boardroom has lost its walls, while local operational decisions taken are inextricably linked to global shifts, geopolitical alignments, and cross-border commercial dynamics.

Oyebanji explained that as the global landscape is undergoing fragmented realignments, shifts in traditional alliances, structural adjustments in international relations, and the continuous evolution of economic frameworks, modern directors must develop a keen capacity for ‘corporate diplomacy.’

“On the trade front, we stand at a fascinating juncture. Globally, supply chains are adjusting from a focus on pure efficiency to a focus on security and resilience. Closer to home, the African Continental Free Trade Area (AfCFTA) presents an unprecedented opportunity -a single market of over 1.3 billion people with a combined GDP exceeding 3 trillion dollars.

“Yet, translating the legal frameworks of trade pacts into active corporate growth requires deliberate boardroom leadership. Directors are at the crossroads of this shift, tasked with steering their organizations away from protectionist mindsets towards regional expansion, cross-border partnerships, and export readiness,” he said.

Oyebanji explained that when diplomacy and trade collide, they form the crucible in which modern corporate strategy must be forged. He added that strategy can no longer be static, but must be dynamic, scenario-driven, and highly adaptable.