Experts urge Nigerian companies to prioritize Reputation Management

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Industry experts have emphasised the importance of reputation management for Nigerian businesses to achieve long-term sustainability. This call was made during a webinar titled “Protecting Your Organisation’s Reputation: The Critical Role of Risk Identification and Management”, organised by the National Planning Committee of the Nigeria Public Relations Week 2025 in collaboration with Drawbridge CM.

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Dr Ike Neliaku, President and Chairman of the Council, Nigerian Institute of Public Relations, highlighted the significance of reputation management. “Reputation matters indeed because it underpins stakeholder trust,” he said. “It sustains brand identity, drives customer dependability… For customers to depend on you, they will depend on you because they know that you have them at heart.”

Neliaku warned that companies could lose up to 9% of their annual turnover due to reputation damage, citing a report by Cyber Magazine that estimated a global average loss of $79m per incident. He advised organisations to integrate reputation risk management into their broader enterprise risk frameworks, stating that “the future of reputation protection lies in collaboration, proactive planning, and strategic integration.

Dr. Ezekiel Oseni, President of the Nigerian Chartered Risk Management Institute, described reputation risk as the “biggest, most unvalued, most unquantified, and most expensive risk to manage.” Oseni explained that while finances and assets can be quantified, reputation risk cannot but can still bring down an entire business.

Adetokunbo Modupe, Chairman and Group Chief Executive Officer of TPT International, urged business owners to view reputation as critical capital. “Reputation is capital… As a major asset, reputation collapses without trust,” Modupe said, warning that compromised reputation can erode profitability, revenue, and stock value.

Hassan Abdul, Lead Consultant at Drawbridge CM, concluded the session by emphasizing the need for proactive risk identification. “Organisations must prioritise risk identification and management to protect their reputation and maintain stakeholder trust,” Abdul affirmed

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