• Tuesday, July 23, 2024
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IoD urges govt to consider viable policy options to strengthen economy

IoD urges govt to consider viable policy options to strengthen economy

As Nigeria continues to respond to the myriads of socio-economic challenges coupled with the Covid-19 variants, the Institute of Directors Nigeria (IoD) has urged Nigerians not to lose sight of the challenges posed by the pandemic, as it advocated and advised government to consider viable policy options to strengthen the already fragile economy that would be beneficial for the nation.

“We must all realise that Covid-19 only compounded an already fragile and challenging business environment in Nigeria. Prior to the advent of the pandemic, Nigeria had battled with socio-political and economic problems of exchange rate instability, poor infrastructure, insecurity and worsening social systems,” Ije Jidenma, president and chairman of the governing council, Institute of Directors Nigeria, said at the 2021 annual Directors’ Dinner and Awards Night held in Lagos.

According to her, “2021 has been a challenging year for businesses in Nigeria, hence directors and business leaders need to reflect on the opportunities and challenges of the outgoing year, and share thoughts for a better business and economic environment in the coming year.

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“Most importantly, the Annual Directors’ Dinner gives participants the opportunity for a good reflection on the state of the Nation.”

She also noted that the pandemic, despite all the challenges, brought along with it some blessing in disguise.

According to her, the pandemic forced the world, particularly the business community, to critically analyse and re-think business sustainability and continuity plans and adopt policy options and measures that can create a better business environment.

Umar Garba Danbatta, the executive vice chairman/CEO Nigerian Communications Commission (NCC), the IoD has been championing the implementation of good governance practices in the Nigerian public and private sectors for thirty eight years.

According to him, the institute’s contribution to good governance is worthy of applause, and highly commendable.

“Good governance improves executive decision making, reduces operating cost through improved behaviour, encourages effective strategic planning and most importantly, creates an ethical climate in the organisation,” Danbatta, who was represented by Banji Ojo, head of consumer protection and advocacy of the NCC, said.