Nigeria consults on its revised ISSB roadmap
The Financial Reporting Council of Nigeria (FRCN) has launched a public consultation on an amended roadmap for adopting the International Sustainability Standards Board (ISSB) standards. The roadmap outlines how IFRS S1 and IFRS S2 will be phased in, with comments open until 20 January 2026.
The headline change is scope. The revised roadmap introduces a Phase 4 covering governments and government organisations, with early adoption encouraged. It also adjusts timelines: public interest entities must apply the standards from 2028, while small and medium-sized entities follow from 2030.
A staged assurance plan has also been updated, delaying the transition to limited and reasonable assurance by one year, and clarifying when more complex disclosures like Scope 3 emissions and scenario analysis require assurance.
This move builds on Nigeria’s early momentum: starting with intentions signalled at COP27, the formation of the Adoption Readiness Working Group (ARWG) in 2023, and the original roadmap’s launch in 2024 with backing from the Nigerian Integrated Reporting Committee (NIRC).
You can access the amended roadmap and the new sustainability reporting guidelines on the FRCN website.
