The Nigerian Institute of Management has charged the Federal Government to reduce the cost of governance in the country to reflect the current economic realities.
The President and Chairman of NIM’s council, Mrs Christiana Atako, stated this at the 2023 Annual National Management Conference, held on Monday, in Lagos.
“While the masses are tightening their belt because of ongoing economic policies, it is only moral and rational that those in government make a conscious effort to reduce the cost of governance,” she added.
She noted that the new national leadership led by President Bola Tinubu inherited a fractured and weak economy when it took over the reins of leadership in May this year.
“Weak national currency, high rate of unemployment, food insecurity, high cost of living, unprecedented inflation rate, but at around 24 per cent by the National Bureau of Statistics, and other debilitating economic indices contributed to high cost of living as well as high cost of doing business and poor economic growth, were also in the mix,” Atako said.
She further emphasised that the decision to remove fuel subsidies may be painful, but it was essential for Nigeria’s economic growth and stability.
Atako added that it would reduce resource mismanagement, curb corruption, and ensure government spending benefits all Nigerians.
She also charged the administration to focus on implementing policies that would promote economic growth, job creation, and poverty reduction as well as attract foreign investment and promote entrepreneurship.
Speaking at the event, which had the theme “Managing Nigeria’s Path to Sustainable Economic Growth and Prosperity: The Challenges before the New National Leadership, the Secretary to the Government of the Federation, Senator George Akume, who was the special guest of honour, said, “The theme was apt and relevant towards charting a new course and national rebirth for the country in line with the eight-point agenda of the Federal Government.
“The institute has further demonstrated that it is committed to supporting the Federal Government in achieving its drive to reposition and turn around the nation’s economy and set it on the path of real development and progress.”
According to Akume, to truly set Nigeria on the path of greatness and prosperity, good leadership built on enduring democratic principles must be on the front burner and our collective consciousness always.
“You would agree with me that a great nation is the reward of great leadership built on good governance with strict adherence to the ideals and principles of the rule of law which is one of the fulcrums of democracy,” he stated.
Akume challenged the institute to improve its visibility at public sessions of the National Assembly when bills are being considered to make more robust professional management input that would be most relevant in the public domain.