Vice-President Kashim Shettima has called on business leaders professionals and the media to help Nigerians understand the Federal Government’s economic reforms counter misinformation and build public confidence in the country’s economic direction.
He said the success of the reforms would depend not only on government policies but also on how effectively the government communicated their objectives and benefits to citizens and on how well the private sector and other stakeholders supported their implementation.
Speaking through his Special Adviser on Economic Affairs Dr Tope Fasua at the Duke’s Masterclass 2026 in Abuja Shettima said the removal of the fuel subsidy foreign exchange market liberalisation fiscal restructuring and efforts to increase government revenue were important steps towards building a stronger and more competitive economy.
However he said the government must do more than announce policies stressing the need to explain their purpose provide credible evidence of progress and listen to the experiences of Nigerians affected by the changes.
The Vice-President said the reforms were intended to create an environment where businesses could invest and expand investors could plan with greater confidence and public resources could be used more effectively.
‘The task is not merely to announce policies; it is to build understanding confidence and a shared sense of national purpose’ he said.
He urged professionals particularly members of the middle class and the business community to take a more active role in explaining economic developments and helping citizens understand the opportunities and challenges associated with the reforms.
According to him their responsibility is neither to defend every government decision nor to dismiss public complaints but to encourage informed discussions based on facts and a proper understanding of the economy.
‘When you speak with a trader explain the opportunities that economic stability can create while acknowledging the pressures of daily business. When you engage a young graduate encourage enterprise and innovation while recognising the urgency of employment’ he said.
Shettima said constructive criticism was necessary for good governance adding that citizens who understand the direction of economic policies would be better equipped to participate in emerging business and investment opportunities.
He also urged Nigerians to be more careful with information circulating on social media warning that artificial intelligence had made it easier to manipulate photographs clone voices and produce fake videos capable of damaging reputations and misleading the public.
He said false information could reach millions of people within minutes sometimes long before the individuals or institutions concerned had an opportunity to establish the facts.
‘Today a rumour can travel from one phone to a million phones before the person concerned has finished breakfast’ he said.
While acknowledging that Nigeria’s growing digital communication network had created opportunities for businesses financial services young people and public participation he warned that the same platforms could be used to spread falsehoods and manipulate public opinion.
He called on public institutions and businesses to strengthen their ability to verify information correct false reports and communicate through channels that people trust.
He also cautioned against rushing to deny allegations without first establishing the facts saying that an inaccurate response could damage an organisation as much as a delayed one.
‘The guiding principle should be simple: verify before publishing correct mistakes transparently communicate with empathy and allow evidence to speak’ he said.
The Vice-President said public institutions could best protect their reputations through openness competence and integrity while businesses needed to earn customers’ confidence through dependable services and honest dealings.
He also urged Nigerians to develop the habit of questioning sensational reports before sharing them noting that verifying information was becoming as important as accessing it.
On the country’s economic prospects Shettima said Nigeria had considerable opportunities in banking financial technology oil and gas agriculture commodity exports real estate construction and the creative industry.
He said the country’s young population entrepreneurial spirit financial sector and expanding digital economy provided important foundations for growth.
However he said these opportunities could only be fully harnessed through reliable electricity efficient transport improved security accessible financing better education and stronger public institutions.
He called for increased local production greater exports productive investment and support for small businesses to grow into larger enterprises.
He also stressed the need to ensure that economic opportunities reached women young people and rural communities rather than remaining concentrated among a limited section of the population.
‘Government has a responsibility to create the conditions for growth. The private sector must invest and innovate. But professionals such as you have a special responsibility to connect policy with public understanding ambition with action and opportunity with participation’ he said.
The Vice-President’s position on responsible leadership and public confidence also featured prominently in the address by the Chairman of Odu’a Investment Company Limited Otunba Bimbo Ashiru who warned that organisations and their leaders must prepare for crises before they occur.
Ashiru said the speed of digital communication economic disruptions geopolitical tensions and changing public expectations had made leadership increasingly difficult with reputations built over decades capable of suffering serious damage within hours.
He said leaders could not always prevent crises particularly those caused by events beyond their control but their ability to respond with courage sound judgement transparency and integrity would determine how much damage their organisations suffered.
‘When a crisis occurs people look to leadership for direction. Employees want reassurance. Investors want confidence. Regulators demand accountability. Citizens expect answers. The media seeks information’ he said.
The Odu’a Investment chairman argued that reputation could not be created at the point of a crisis because it was the product of years of decisions conduct and consistency between promises and actions.
He said reputation management should go beyond public relations and the handling of negative publicity to include an organisation’s performance relationships accountability and the quality of its leadership.
‘Communication matters certainly. But communication without credibility is rarely sustainable’ Ashiru said.
He urged corporate executives government officials and other public office holders to build strong institutions and systems that could withstand difficult situations rather than waiting until a crisis occurs before trying to protect their reputations.
Ashiru also called for greater recognition of Nigerian business and leadership experiences in international institutions saying African organisations had valuable lessons that could contribute to global management education.
He cited his experience at Harvard where he challenged the use of predominantly American and European business cases arguing that Nigerian companies and their experiences deserved greater representation.
He said he subsequently offered to provide a Nigerian business case study for the institution adding that African businesses should not be overlooked when discussing corporate leadership and management.
In a related presentation AXA Mansard Chairman and Sahara Power Group Group Managing Director Kola Adesina said integrity mattered more than reputation because it underpinned lasting public confidence.
He said individuals and organisations could spend years building a good name but dishonest conduct broken promises and poor decisions could destroy that confidence.
According to him reputation is shaped by everyday actions including how people treat others respond to failure keep promises and conduct business when nobody is watching.
‘Your reputation is a matter of choice. It’s a decision. It’s something you do even before the crisis starts to happen’ Adesina said.
He warned business leaders against compromising product quality misleading customers or manipulating financial records to achieve short-term gains saying such practices could eventually destroy the credibility of their organisations.
Using Nigeria’s electricity industry as an example Adesina said customers were primarily interested in a reliable power supply rather than explanations of the technical and operational difficulties facing electricity companies.
He argued that businesses must be judged by the quality of the services they provide and how well they meet customers’ needs.
He also linked the country’s international reputation to the collective conduct of its citizens and institutions saying Nigeria’s image abroad was influenced by the performance of its economy public institutions and leadership.
‘Once the foundation is weak there is no structure you can build on it’ he said urging individuals and organisations to examine the values and behaviours for which they were known.
Adesina further warned public officials against inflating the cost of government projects for personal gain explaining that such practices could result in poor infrastructure unsafe roads and inadequate healthcare facilities with ordinary Nigerians bearing the consequences.
He said public office should be treated as an opportunity to serve rather than a means of accumulating wealth adding that every decision leaders make will eventually shape how they are remembered.
The former Commonwealth Secretary-General Chief Emeka Anyaoku also shared lessons from his years of international diplomacy particularly his involvement in resolving political conflicts and promoting democratic governance.
Anyaoku who served as Commonwealth Secretary-General from 1990 to 2000 said effective leadership in conflict situations required a proper understanding of the issues dividing opposing parties the personalities involved and the people supporting them.
He recalled that when he was elected to lead the Commonwealth in November 1989 he committed himself to promoting democracy helping to resolve conflicts among member countries and strengthening technical cooperation.
At the time he said at least 10 Commonwealth countries were operating under one-party systems military governments or absolute monarchies.
He subsequently engaged with leaders in Zambia Malawi Kenya and Seychelles encouraging them to adopt constitutional arrangements that allowed multiparty democracy.
Anyaoku also recalled his intervention during negotiations to end apartheid in South Africa between 1991 and 1993.
He said the talks nearly collapsed following the massacre of four African National Congress supporters at Boipatong which forced him to travel from London to South Africa to engage the leaders of the major political parties.
After discussions he prepared a memorandum to restore the negotiations but struggled to locate Inkatha Freedom Party leader Chief Mangosuthu Buthelezi.
He eventually discovered that Buthelezi was staying in Pretoria under the assumed name Mr Rogers. After contact and discussions Buthelezi agreed to sign the memorandum allowing negotiations to continue.
The talks eventually produced an agreement on November 17 1993 paving the way for democratic reforms and the end of apartheid.
He also recounted his intervention in Bangladesh where political disagreements between Prime Minister Begum Khaleda Zia and opposition leader Sheikh Hasina had led to a nationwide strike that paralysed the country.
After meeting both leaders Anyaoku brought them closer to an agreement and subsequently appointed a representative to continue the negotiations while he attended to other responsibilities.
He later returned to conclude the process which helped restore normal activities in the country.
Drawing lessons from the two experiences he said leaders involved in conflict resolution must understand the issues at stake study the personalities and interests of the opposing parties and exercise caution in communicating the progress of negotiations.
He warned that announcing developments prematurely could undermine negotiations and make it more difficult to reach an agreement.
The Chairman of the Duke of Shomolu Foundation and founder of the Duke’s Masterclass Joseph Edgar said the programme was designed to help individuals and organisations anticipate crises prepare appropriate responses and limit the damage that could follow.
In an interview with journalists Edgar said the masterclass was part of the foundation’s broader effort to promote social cohesion across platforms including theatre and leadership development.
He explained that the foundation had not abandoned theatre but was using the masterclass as another channel to empower citizens and encourage responsible leadership.
‘Obviously there is a crisis of leadership. So I personally no longer believe in leadership. I am looking at followership’ he said.
Edgar explained that the programme was intended to equip individuals and organisations with the knowledge to identify potential crises include them in their contingency plans and respond professionally when they occur.
He said organisations should not wait until problems arise to decide how to communicate with the public warning that poorly prepared press statements can sometimes worsen an already difficult situation.
The Duke’s Masterclass 2026 held on Thursday October 29 at the Transcorp Hilton in Abuja was themed ‘Penetrative Leadership: Definitive Strategies in Robust Crisis and Reputational Management in an Increasingly Chaotic World Order’.
The programme brought together business executives government officials communications professionals diplomats and other participants to examine leadership institutional credibility crisis management and the responsibilities of those in positions of influence.
The organisers said the Abuja edition marked the beginning of a wider leadership development initiative with plans to continue the programme in London in March 2027.