Tinubu backs sustainability reporting initiative for investment promotion, economic development

EXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisishas affirmed Nigeria’s commitment to diligently implement world-leading sustainability reporting standards aimed at unlocking capital investments, transforming business models, and...

The president’s endorsement coincides with the launch of Nigeria’s Adoption Readiness Roadmap by the Financial Reporting Council of Nigeria , in collaboration with ISSB.Highlighting the importance of compliance within the sustainability agenda, President Tinubu pledged that Nigeria would continue to adhere to international standards and expressed readiness to collaborate with ISSB to effectively harness national resources through reformed and reinforced financial management systems.

Mr Faber, while recounting Nigeria’s commitment to sustainability reporting, noted that at COP 27 in Sharm el-Sheikh, Egypt, in 2022, Africa’s largest economy had expressed its intent to be among the earliest adopters of rigorous new standards, which is now a reality. Rabiu Olowo, the executive secretary of the Financial Reporting Council of Nigeria , explained that Nigeria’s decision to join the global baseline for sustainability reporting marks the country as one of the earliest proponents committed to enhancing the transparency of financial information and business performance through sustainable reporting practices.”The adoption readiness working group is set to pilot our affairs and roadmap to help us succeed on this journey.

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