Ekpa, Stanley Ekpa
What makes some corporate entities in a country more productive, infrangible and sustainable than the countries they exist in lies in the ageless ethos of integrity, strategies in corporate governance, and the founding ideals that define the prestige, elegance and generational acceptability of such corporations.
Corporate governance creates a value system that essentially balances the diverse interests of a company’s multifaceted stakeholders –– the shareholders, management, customers, suppliers, financiers, government and the community. It creates a functional compass that assures public trust and credibility, while attaining the company’s objectives; encompassing virtually every spectrum of management, from target plans and internal controls to performance measurement and corporate disclosure.
Nigeria, a sovereign entity incorporated by the tripod legal instruments of the (Nigerian Council) Order-in-Council, 1912; The Letters Patent, 1913; and the Nigerian Protectorate Order-in-Council, 1913, has existed for a century and nearly half a decade in stagnant search of national identity and ideological bearing. In 1914, the “Nigeria Progress PLC” commenced operations with 24 official and 12 unofficial members, with six unofficial members as Europeans who were representing commerce, shipping, mining, and banking interests in the Council. By the Order (Nigerian Protectorate Order-in-Council, 1913) of His Majesty King George the 5th, which was made on the 22nd November, 1913, by virtue and in the exercise of the power vested in His Majesty by the Foreign Jurisdiction Act, 1890, at the Windsor Castle Court, before Their Lordships, Lord Earl Spence, Lord Stamfordham and Lord Emmatt, the Nigerian first law was made and that legally gave birth to Nigeria – then a legal entity without any internal sovereignity.
Prior to Nigeria’s acquisition of her license of sovereignty and independence in 1960, the colonial masters administered the country for their revenual interests. To be fair to them, they laid strong and firm developmental foundations. A structure that has been crashed by crass ineptitude of successive leaders after our first generation leaders’ stellar leadership of transcendent impact. Upon Nigeria’s independence, such business interests of the colonial masters were transferred to such already existing companies like Unilever Plc, First Bank Plc, Nestle PLC, Cadbury Nigeria PLC, among many others that are still waxing stronger and bigger till tomorrow; serving as strategic growth compass for Nigeria’s emerging entrepreneurs today. Most of those companies have been advanced and sustained based on a crystalline compass of viable visions, transparency, accountability, openness, inclusiveness in governance, and strident commitment of workers to the growth process of the companies. The products and services of these companies which have foreign affiliations and interference in their management are today almost the leading and controlling forces of our economy. As a nation, we must interrogate and emulate how these companies are progressing in order to rescind our country from retrogressive stasis.
These companies do not run abroad for aids, they do not fail their customers as woefully without courtesy and proper notification as is our flopping national leadership, they operate for profit, progress and longevity. Nigeria in her development and modernization drive, must learn from the corporate sector. The managers and stakeholders of the Nigeria enterprise have failed to interogate the situations of our underdevelopment and disunity. To fix Nigeria, all the stakeholders –– the citizens, government officials and the institutions must see themselves as though they are operating a corporate entity. The citizens must play the significant role of the members of a public company. Our leaders must govern Nigeria like credible Directors of a company who have the overall interest of the company at heart. The company’s scope of activities and defined business visions are like the dream of a nation.
It was the wisdom of the Court in Foss v. Harbottle (1843) 2 Hare 461, that the concept of corporate sovereignty and corporate democracy means that the will of the majority of the members of the Company constitute the decision of the body (Corporate sovereignty belongs and resides in the company), a practice that even the Court cannot interface with. Just like the members of a company, the citizens of a nation are the highest and strongest officers of the nation, with the power to hire and fire leaders –– the power of constructive citizenship in nation building. Section 14 (2) (a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), expressly grants absolute power to the people, that “sovereignty belongs to the people of Nigeria from whom government through this Constitution derives all its powers and authority.”
Just like in a company, viral citizen leadership is the block upon which social progress is built. How exactly have Nigerians exercised their inherent powers on the sovereignty of Nigeria to positively provide perennial development and integration changes? The people, as the victims of underdevelopment and social injustice, are the most significant stakeholders in owning up the advancement process of the “ Nigeria Progress PLC”. Only we the people can make Nigeria work, not our leaders, not foreign forces, not even our African sisters. Nigerians as the custodians of Nigeria’s prosperity must take bold responsibilities to rebuild Nigeria.
Whereas corporate leaders in our country like Alhaji Aliko Dangote, Tony Elumelu, Chief Innocent Chukwuemeka among other stellar entrepreneurs are creating marathon and swift paradigms of progress for Africa’s socio-economic development, our socio-political leaders have remained redundantly passive and grossly ineffective. Our political leaders must imbibe sincerity in service to Nigeria, culture of commitment to national unity, pursuit of excellence in duty, and the practice of patriotism. Our political leaders must stop ridiculing the concept of empowerment, development, governance, leadership and unity. We must govern the “Nigeria Progress PLC” for global productivity, relevance and value, and internally build a Nigeria that Nigerians will be proud to belong to. Just like prosperous nations, global brands operate in conformance and congruity with the company’s long term goals and defined visions. Great nations are governed by identifiable national dreams. Beyond the American Independence Declaration that proclaimed that “all men are created equal” with the right to life, liberty and pursuit of happiness.” James Teuslow Adams in 1931 went further to define the American Dream as a place where “ life should be better and richer and fuller for everyone, with opportunity for each according to ability or advancement” regardless of ones circumstances of birth or social class. To give vent to the developmental progress of Nigeria, we must first define, constantly shape and perpetuate an Inclusive Nigeria Development Solution Policy as a Nigerian Dream.
The tenets and practice of Inclusive Nigeria Development Policy must position our nation for shared prosperity, inclusive opportunities and social justice anchored on the ageless concepts of equality, fairness, respect for the fundamental rights of all citizens, respect for due process and rule of law, patriotism, hard work, innovativeness, and the consistency of opportunity for progress. The concept of inclusiveness in our national dream means that our system must prima facie and principally provide an opportunity for all States, regions and individuals to excel not just in an even uniformity but in a healthy competitiveness, because underdevelopment anywhere in Nigeria remains a threat to our collective progress and security everywhere. Hence, our approach must take cognizance of the weakness and comparative developmental advantages, strength, opportunities and potentials of States, and how they can harness same for growth. A Nigerian Dream that will reawaken our spirit for participatory citizenry and quality citizen leadership, for efficient institutions that create a rallying point of new Nigerian values, development philosophies, national ethos of excellence, and a penchant for shunning corrupt and sharp practices.
Ekpa, Principal Development Partner, Nigeria Solution Group, writes from Nigerian Law School, Bwari, Abuja.