Nigeria’s private sector leaders have been urged to take responsibility for influencing political institutions to drive economic growth and redefine the future of Africa.
This call was made by Frank Nweke, former minister and director general of the Nigerian Economic Summit Group (NESG) at the 23rd annual Chartered Risk Management Institute (CRMI) conference themed, “Emerging Crises in Africa: Way Forward”, held in Lagos.
“The biggest risk facing Africa is not the absence of resources but our inability to manage these resources. Africa will remain at the behest of other countries and continents if it fails to rise to the development of the African continent,” he said.
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Ezekiel Oseni, president and chairman, CRMI said that the theme was timely in addressing the various risks plaguing the African continent such as economic volatility, environmental hazards and economic instability.
He urged industry players to arm themselves with the knowledge and tools necessary to address emerging crises on the continent.
“I am glad that African countries have taken a bold step to establish the Federation of African Risk Management Associations with the intention of rating and managing risks in Africa, just like in other countries.”
“The FARMA would promote sound risk management practices on the continent and de-risk the high-risk perception of Africa for investment by the rest of the world,” he stated.
Obafemi Hamzat, deputy governor, Lagos State, represented by Oyeyemi Ayoola, special adviser to the governor on Internal Audit, also said that risk management procedures have been infused in all the state government’s ministries and agencies.
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He highlighted the establishment of the Lagos State Agricultural Programme (LAP) to support the agriculture and food system in five administrative zones of the State and effort in training the youth, in modern agricultural practices.
He also said that the state had secured vaccines to combat the outbreak of monkeypox spreading across East Africa.
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