The Institute of Chartered Accountants of Nigeria (ICAN) has emphasized the importance of accountability in achieving sustainable national development.
ICAN President, Haruna Yahaya, stated that Nigeria’s recent economic gains could be reversed without transparency, fiscal discipline, and strong governance frameworks.
He made this call at the Institute’s 2026 Economic Outlook, marking ICAN’s 60th anniversary.
Yahaya highlighted Nigeria’s economic stabilization in 2025, with a real GDP growth above 4% in the second quarter, driven by improvements in manufacturing, trade, and services.
Inflation moderated to mid-14% by year-end, and foreign exchange reserves strengthened due to improved export performance and reforms.
However, Yahaya cautioned that these gains are fragile and require accountability and credible institutions.
He emphasized that accountability is an economic imperative, not just a governance ideal.
Delivering the keynote address, Prof. Taiwo Oyedele, FCA, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, described accountability as the critical link between reform and results.
He explained that national development goes beyond GDP growth and must translate into improved citizens’ well-being, including better education, healthcare, infrastructure, governance and social protection.
Mr Oyedele identified accountability as encompassing transparent reporting, answerability to citizens and responsibility for outcomes, noting that countries with strong institutions, public trust and ethical systems tend to achieve better economic and social outcomes.
He warned that misinformation and poor understanding of reforms could undermine economic progress, citing the adverse market reaction of November 2025 as an example of the real cost of unfounded claims.
