Funmi Ekundayo, President of Institute of Chartered Secretaries and Administrators of Nigeria, ISCAN has again looked at ongoing discussions on minimum wage and high rate of unemployment in Nigeria that remains a critical issue which affects the nation’s economy and social stability, as she proffers various solutions to tackle and reduce it to the barest minimum.
Though Nigeria is a major oil producer and largest economy in Africa, but it faces challenges providing adequate employment opportunities for its citizens but Ekundayo said this can be addressed through strong partnership between government and the private sector.
Speaking to journalists recently on her one year in office as ICSAN president, Ekundayo recognised that high rate of unemployment continuous to be a worrisome trend.
To address the issue, she said “there is not one jacket fits all approach but there can be different ways that government and private sector can also jump in to reduce unemployment to the barest minimum”.
She called for urgent diversification of the economy. Beyond oil and gas, government must do more in the areas of agriculture, manufacturing and put enabling environment that will enable more sectors to thrive, she said. “Diversifying the economy is very key and we have held that position at ICSAN and it is an area we want to see improvement by the government”.
There is need to diversify our economy and this is what government continually must find a way around. Once those sectors thrive, it will lead to job creation that will be sustainable in the long run.
The ICSAN president also advocated for requisite support for start-up businesses. “There are a lot of Nigerians that are talented, and they have that entrepreneurial spirit, but the eco-system needs to support them not only in terms of funding but mentorship and tax rebates to enable them thrive and provide employment.
According to her, digital economy is another sector for employment opportunity but she said the operators in that space need requisite training to run on their own to create a system that would also be essential to grow the economy.
Speaking on minimum wage, she said it is an issue that all parties, government, organised labour, workers and every stakeholder must find a middle ground to enable us move forward.
She however advised all parties to give consideration to national interest and be realistic with their expectations.
On the achievement of the institute in the last one year under her, she expressed gratitude to God for the modest results so far and to her council for driving the policy framework for the institute and to staff and members as the results are not one man show, she said.
Some of the achievement include laying the foundation stone of the 4-storey permanent secretariat for the institute, establishment of Kaduna branch of the institute, MoU between ICSAN and NIPSS and in collaboration with University of Benin for a Masters in Governance programme; and partnership with stakeholders and CAC on advancement of corporate governance.
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