• Saturday, December 02, 2023
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IoD urged to deepen public-private sector collaboration

Nigeria’s private sector and case for inclusive business

Mohammed Hayatu-Deen, OON, the chief executive officer, Alpine Investment Services Limited, has urged the Institute of Directors Nigeria (IoD) and other institutions in the private sector to deepen public-private sector collaboration towards creating lasting transformation in Nigeria.

He stated this during the hybrid 2022 annual directors’ dinner and awards of the IoD held in Lagos on Thursday 15 December, which featured the induction of new members into the Institute.

According to him, Nigeria is currently under-managed and under-governance; hence it is critical for institutions like the IoD to engage the public sector to bring about lasting transformation.

Hatayu-Deen, who was the chairman of the dinner said that the IoD has been a high ethical institution that promoted good governance in Nigeria.

“I think it’s time to actually rebuild the nation,” said Hatayu-Deen, stating that Nigeria needs a robust civil service to turn the country around towards a lasting reform.

Ije Jidenma, president and chairman of governing council, IoD, said that the Institute has remained resolute in its determination to create value for its members and the Nigerian business community in general.

According to her, the IoD has performed creditably well on its mandate of providing valuable services for members and the business community in general.

She stated further that the IoD is leaving no stone unturned towards accomplishing its mission of becoming a chartered institute before the end of the first quarter of 2023.

Speaking on the current cost of living crisis, Jidenma said that Nigeria failed to leverage on comparative advantage on the back of the Russia-Ukraine war.

“What should have been an advantage for us as an oil-producing nation, became a disadvantage because of our complete reliance on the importation of finished petroleum products.

“This rising cost of energy, added to the already prevailing tough business environment, created great challenges for numerous private sector operators across all sectors,” Jidenma said.

Read also: PPP key to unlocking Nigeria’s tech talent, development

Joe Abah, the country director, DAI, Nigeria and guest speaker, said rules can change but principle should be constant.

“You do not have to be slave to your culture,” he said, stating that the role of corporate governance is to help build strong institutions.

Similarly, four notable Nigerians were awarded by the Institute for their roles in corporate governance and leadership.

Muhammed Ahmed, chairman of Polaris Bank won the IoD Nigeria good governance award, while Fatumata Coker, chairman, Afrinvest, won the Olutoyin Olakunrin Woman Director of the year.

Anthony Idegbe, senior partner, Punuka Solicitors and Attorneys won the Anofi Guobadia award for leadership and excellence award, while Biodun Adedipe, the chief Consultant, B. Adedipe Associates limited won the IoD Nigeria director development award.