Nigeria’s economy is showing early signs of stabilisation, but progress remains fragile, the Institute of Chartered Accountants of Nigeria (ICAN) has warned, emphasising that accountability is key to sustaining fiscal reforms and driving national development.
The remarks came during ICAN’s 2026 Economic Outlook in Lagos, part of the institute’s 60th anniversary celebrations, which brought together policymakers, regulators, industry leaders, and top professionals to discuss strategies for improving transparency, fiscal discipline, and governance.
ICAN President Mallam Haruna Yahaya noted that the Nigerian economy recorded over four per cent GDP growth in the second quarter of 2025, driven by gains in manufacturing, trade, and services, while inflation moderated to around 14 per cent by year-end. External buffers strengthened, with foreign exchange reserves reaching multi-year highs and trade and current account balances returning to surplus.
“Accountability is not merely a governance ideal; it is an economic imperative,” Yahaya said. “Progress remains fragile and must be safeguarded through discipline, transparency and accountability.”
Vice President Hajia Queensley Seghosime highlighted revenue mobilisation, tax system restructuring, and public financial management as crucial steps for macroeconomic stability and inclusive growth. She stressed that accountability anchors fiscal reforms, ensuring public resources are efficiently deployed and citizen trust is maintained.
Panel discussions also addressed social outcomes, noting that while macroeconomic stability is improving, growth remains uneven, real incomes are recovering slowly, and poverty and inequality persist. Experts emphasised that sustainable development depends on effective execution, institutional compliance, and professional capacity in key economic sectors.
ICAN underscored the evolving role of accountants as custodians of fiscal credibility, governance, and sustainability, highlighting responsibilities in digital systems, ESG compliance, and risk management. Yahaya concluded by urging active engagement and professional courage, stressing that transparency and accountability will remain central to Nigeria’s economic transformation.
Interesting read, but do you think accountability is truly achievable for sustainable economic growth? Im skeptical 🤔
Isnt it time we hold leaders accountable for economic growth? ICANs call for sustainability is a step in the right direction.
Interesting read but Im not convinced. Accountability is key, but is it realistic in todays economic climate? What do you think?
I wonder if ICANs emphasis on accountability will really lead to sustainable growth or just more bureaucratic red tape.
I think ICANs call for accountability is spot-on. Sustainable growth requires transparency and responsibility from all stakeholders.
ICANs call for accountability in economic growth is crucial for long-term stability. Lets hope leaders take heed.
Do you think accountability is the key to sustainable economic growth, or is it just another buzzword? Lets discuss!
I wonder if accountability alone can ensure sustainable growth. Maybe a mix of factors is needed? What do you think?
Interesting read! Do you think the call for accountability will actually lead to sustainable growth, or is it just wishful thinking?