Amid Nigeria’s ongoing economic challenges, leading experts and industry leaders have presented a series of solutions at the 48th annual conference of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) held in Lagos.
Mrs. Ibukun Abiodun Awosika, Founder and CEO of The Chair Centre Group, who chaired the conference, emphasized the urgent need for courageous leadership to tackle the country’s economic crisis. She pointed out that Nigeria’s infrastructure and public services are failing due to rampant corruption and a culture of impunity. Awosika argued that with decisive action and severe consequences for wrongdoers, corruption could be significantly reduced within a year. “We have the right policies, but we lack the will and courage to implement them effectively,” she stated.
ICSAN President, Mrs. Funmi Ekundayo, echoed this sentiment, highlighting the importance of professionalizing the civil service and enforcing sound corporate governance. She urged the private sector to lead by example and commit to ethical practices, serving as a model of good governance.
Delivering the keynote address, Professor Fabian Ajogwu called for a more rigorous intellectual approach to Nigeria’s socio-economic and political challenges. He stressed the need for increased transparency and accountability, particularly in procurement practices, noting that corruption in the private sector often spills over into the public sector. Ajogwu also pointed to Nigeria’s high misery index of 73.05% as reported by the National Bureau of Statistics in 2023, underscoring the necessity for genuine federalism and an updated academic curriculum that aligns with global standards.
Paul Alaje, a Senior Economist and Partner at SPM Professionals, criticized Nigeria’s heavy reliance on imports, arguing that this dependency stifles national progress. While acknowledging the government’s support for innovation, he noted that Nigeria lags behind other nations in the digital economy. “Government intentions may be right, but if their efforts are not visible and impactful, then they fall short,” Alaje observed.
Throughout the conference, panelists unanimously called on the government to shift its focus from politics to effective governance, particularly in supporting micro, small, and medium-sized enterprises (MSMEs). They urged Nigerians to prioritize long-term benefits over short-term gains and emphasized the importance of placing competent individuals in key positions to drive the country forward. “We must define our goals and work diligently to achieve them. Properly positioning the right people in the right roles is crucial for our advancement,” the panel concluded.
