The Institute of Strategic Management, Nigeria (ISMN) has set target for the economic recovery plans of the country. The Institute believes strategic entrepreneurial modalities would go a long way to improving the economic situation in the country.
The decision was reached Thursday during the 15th annual conference of the Institute at Kwara Hotels, Ahmadu Bello Way, G. R. A., Ilorin, Kwara State with the theme, “Strategy and National Development: Entrepreneurship as a Gateway to Economic Recovery”.
Speaking at the event, the Chairman on the occasion, Dr Niniola Akanbi, OON stated that the 2019 conference was to provide learning opportunities to participants so they can gain experience to drive the new economic realities.
Herself the former Nigerian Ambassador to Netherlands, Niniola Akanbi stressed that Nigeria’s cultural diversities and opportunities in trade, education, among others, were anchors for entrepreneural development.
She added that the huge natural reserves across the country were fortunate opportunities for business developments which should invariably enable economic prosperity.
Delivering his welcome address, the ISMN President and Chairman-in-Council, Dr Emman Oyeka, FSM commented on Nigeria’s population density as well as her rate of gross domestic products as rated in the world chat, with regards to its economic statistics in comparison with other African countries.
He express worries over the employment statistics in the country, saying in spite of the enormous natural resources, the country has so dangerously been trapped in unemployment and poverty, exposing the youth, between ages 15 and 35 to criminality.
Emman Oyeka who noted that the gathering provided an atmosphere for creative thinking on how Nigeria can escape the dangerous effects of joblessness, welcomed all participants, while thanking the Kwaran Chapter of the Institute for the efforts made to put the event together.
In his presentation, the Keynote Speaker, Mr. L. E. Alade who is the Deputy Governor, Corporate Affairs of the Central Bank of Nigeria (CBN), stated that strategy was a proximate solutions for management.
Mr Alade maintained that the functions of strategy include helping to set priorities, redirecting performance size of organization, among others. He maintained that government agencies must use strategy to reinforce best practices as well as pursure goals and priorities.
The CBN Deputy Governor who was represented at the event by Mrs Faworaja Folasade reasoned that entrepreneurship is a process that must be built as a modality for economic growth. She stressed that creative thinking and strategic initiatives are required steps for economic recovery.
Various other presentations held at the event submitted that government must properly liaise with educational institutions in order to make entrepreneural education compulsory from the primary level.
They reiterated that it is the responsibility of government to provide the enabling environment, especially by ensuring constant electricity, loans and other facilities that would stimulate and energize economic growth.
The event featured panel discussions on “the place of creativity and innovation in business growth”, as well as the induction ceremony of fresh Fellows and Members of the Institute, one of whom was Sir (Dr) Asuquo Edet Inuikim, KJW.