
This article, part of a series on public sector boards in Nigeria, identifies the "ceremonial board" as a pervasive and damaging issue. These boards conduct meetings with extreme formality and adherence to protocol, creating an appearance of good governance without actual substantive work. The author describes a typical ceremonial board meeting, characterized by pre-scheduled events, protocol-driven seating, professional but unchallenging presentations, and quick approvals without genuine debate. The article suggests four structural reasons for this phenomenon: ceremony requires no preparation from directors, it avoids the awkwardness of disagreement, it comforts Chief Executives by not testing their judgment, and it aligns with a broader cultural disposition in Nigeria that confuses professionalism with formality. The author proposes a "boardroom conversation test" with seven markers to identify ceremonial boards, noting that most Nigerian public sector boards score low. The good news, according to the author, is that these boards can be transformed through a Chair's willingness to insist on a different format, including restructuring agendas to prioritize strategic matters, redesigning information packs, explicitly requiring consideration of counter-recommendations, scheduling reserved sessions without management, and encouraging disagreement. The article concludes by stating that while fixing individual parts is insufficient, the entire system can be reset by appointing au
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This summary was AI-generated from a story originally published by Punch Nigeria.
Must ReadThe International Monetary Fund IMF has again lowered its 2026 global economic growth projection to 3.0 percent, down from 3.1 percent in its April forecast, citing the ongoing impact of the Middle East conflict. This marks the second reduction this year, with global inflation anticipated to accelerate to 4.7 percent. While an AI boom partially offsets the war's effects, the delayed recovery from the conflict, prolonged disruptions, and higher prices are contributing to a larger economic hit this year. Deniz Igan, division chief at the IMF鈥檚 research department, noted that cumulative forecasts for the next two years are broadly unchanged, expecting a "V-shaped recovery" with growth picking up to 3.4 percent in 2027. The IMF highlighted varying impacts, with energy exporters benefiting and technology-led economies experiencing stronger activity, while energy importers with limited tech participation weaken. The conflict has led to soaring global oil prices due to disruptions in the Strait of Hormuz. Although a temporary US-Iran deal paused hostilities, tensions are rising again. The IMF warned of "glaring differences across countries," with retail gasoline costs jumping significantly in emerging Asia. While the US economy is set to expand by 2.3 percent, growth in the Middle East and central Asia was downgraded to 0.7 percent. The euro area's growth is projected at 0.9 percent, and France at 0.6 percent. China's growth projection was slightly adjusted upwards to 4.6 percent. T
Must ReadDangote Petroleum Refinery has initiated free delivery of Premium Motor Spirit petrol to six Nigerian states, including the Federal Capital Territory, Abuja, while maintaining an ex-depot price of N1,075 per litre. This service, announced on the refinery's official X handle, covers Lagos, Ogun, Rivers, Kaduna, and Delta states, in addition to Abuja. The offer is available to customers purchasing a minimum of 250,000 litres of petrol. This development follows recent discussions with downstream petroleum sector stakeholders regarding cost-reflective petrol pricing, which concluded with support for further fuel price reductions. The refinery recently reduced its gantry price for petrol to N1,075 per litre. The President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, noted that the retail price of petrol has decreased by N125 per litre over the past three weeks, with current pump prices ranging from N1,155 to N1,299 per litre.
Former Vice President Atiku Abubakar has rejected President Bola Tinubu鈥檚 directive for the Independent Corrupt Practices and Other Related Offences Commission ICPC to investigate the alleged Presidential Foreign Intervention Promotion Council PFIPC. Atiku, the presidential candidate of the African Democratic Congress, insists that only an independent commission of inquiry can restore public confidence in the matter. He argued that the President's directive, issued days after his own ultimatum for a probe, suggests that previous investigations by the Nigeria Police were inadequate. Atiku's Senior Special Assistant on Public Communication, Phrank Shaibu, stated that the presidency's latest action contradicts its earlier position that the matter had been comprehensively investigated by the police. Atiku questioned the necessity of a new 30-day investigation by the ICPC if the police probe was indeed thorough, highlighting the government's conflicting statements. He also contended that the President's instruction to investigate "wider circumstances" undermines the initial claim that the incident involved only one individual impersonating government officials. Atiku maintained that an investigation by a federal government agency cannot satisfy public expectations of impartiality, as the government itself is central to the controversy. He called for the immediate establishment of a Special Independent Commission of Inquiry, comprising representatives from various political parties