Pan-Atlantic University hosted its 27th Inaugural Lecture, delivered by Professor Akintola Owolabi, FCA, ACTI, Professor of Cost and Management Accounting at Lagos Business School
The lecture, titled The Ledger and the Cost Boundary: Reimagining Strategic Cost Management for Sustainability, took place at the Honeywell Group Auditorium, Lagos Business School (LBS).
The event opened with the Vice-Chancellor, Professor Enase Okonedo, formally introducing the inaugural lecturer. Professor Okonedo welcomed the university community, guests, family members and the wider public, describing the occasion as an important academic milestone.
She highlighted Professor Owolabi’s distinguished career of research, industry engagement and academic leadership, and positioned the lecture as a contribution to the University’s ongoing conversation on sustainability, strategy and responsible management.
In a thought-provoking address drawn from decades of research, industry engagement and academic leadership, Professor Owolabi challenged conventional approaches to cost management.
He argued that businesses must expand the traditional boundaries of the ledger to account for environmental and social costs that often remain invisible in financial statements.
“The cost does not disappear when it leaves a company’s books. It arrives in a community’s life,” Professor Owolabi stated, underscoring the need for organisations to recognise and manage the full spectrum of costs they generate.
The lecture explored how strategic cost management can actively support sustainability goals. Professor Owolabi called for a shift from narrow, short-term cost control to a broader, more responsible framework that integrates environmental and social considerations into decision-making, strategy and reporting.
He emphasised that true cost management in the contemporary business environment requires organisations to look beyond internal ledgers and acknowledge the external impacts of their activities.
The event brought together faculty, students, alumni, industry leaders, family members and members of the wider public, reflecting Pan-Atlantic University’s commitment to advancing scholarship that engages real-world challenges.
Pan-Atlantic University is a private, nonprofit institution located in Lagos, Nigeria, committed to forming competent and ethical professionals equipped to serve society with integrity.