Experts have urged Nigeria to develop localized Environmental, Social, and Governance (ESG) standards to drive responsible investment and sustainable development.

The experts spoke at a high-level workshop organized by the Natural Resources, Energy, and Environmental Law (NREEL) Committee of the International Law Association (ILA) Nigeria Branch, in partnership with ICELIS Global.

The virtual workshop, themed, “The Growth of ESG and Sustainability in Nigeria: Adoption in Legal and Regulatory Landscape,” brought together global and national experts to examine how ESG principles can be adapted to Nigeria’s legal, regulatory, and corporate realities.

In the opening session, the Chair of the NREEL Committee, Mrs Oluwaseyi Ebenezer, emphasized that ESG represents both a challenge and an opportunity for Nigeria.

“ESG offers a challenge to strengthen our systems and an opportunity to attract sustainable investment and align growth with integrity,

“This conversation must go beyond corporate rhetoric to practical, measurable action,” she said.

The President of ILA Nigeria, Professor Damilola Olawuyi, SAN commended the committee for its consistency in advancing sustainability dialogue and called for deeper understanding of emerging frameworks such as the EU Corporate Sustainability Due Diligence Directive.

Delivering the keynote address, Mr. Leonardo Sempertegui, General Counsel of OPEC, cautioned against adopting one-size-fits-all models for ESG.

According to him, “ Each country must tailor its approach to its unique development needs.

“Energy security and sustainability are not competing goals, they must coexist in a balanced way that supports people, the planet, and progress.”

He urged African countries to design ESG strategies rooted in national context, highlighting the importance of cooperation, rather than litigation, in solving environmental challenges.

A panel discussion on “The Role of ESG in Transactions and Corporate Governance”, moderated by Dean Susan Karamanian of Hamad Bin Khalifa University, featured Prof Engobo Emeseh, Dr Ese Owie, Mr Akinola Afolarin and Mrs Toyin Yusuff.

The panelists identified institutional fragmentation, weak regulatory frameworks, and capacity gaps as major barriers to ESG adoption in Nigeria.

They called for localised sustainability reporting standards that reflect Nigeria’s economic and cultural realities, stronger coordination between ministries, and deliberate policies linking trade and climate goals.

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