Hon. Tajudeen Abbas, the Speaker, Federal House of Representatives, says the 10th National Assembly will work with development partners to drive sound corporate governance for national development.
Abbas said this during the hybrid 2023 Annual Directors Conference dinner with the theme: “Business Meets Government Dinner” by the Chartered Institute of Directors (CIoD) Nigeria in Abuja.
He said the role of corporate governance sits at the heart of national development.
Abbas represented by Engr. Sani Bala, also stressed the need for adequate human capital or decision makers to galvanise the nation’s resources.
“The Role of Corporate Governance is one that sits at the heart of national development.
“With all of our vast resources, if we do not have adequate human capital or decision makers to galvanise these resources, we shall continue to be seen as a nation with so much resources, yet cursed,” he said.
The Speaker said stressed the need to involve everyone in the efforts to transform Nigeria into a world leading economic destination.
“The talk about diversification has been up for too long and we must therefore do more than mere talk meaning now is the time to actually walk the talk.
“Thus, our role in the legislature is to accept ideas from corporate organisations such as this, so we can use the relevant legislative tool to promote good governance and national development.
“Therefore, I want to assure you that the 10th National Assembly is more than ever, ready to associate itself with development partners for the good of our nation and every Nigerian.
“It is my hope that this gathering shall maintain its objective of enhancing a platform for connectivity and cross-fertilisation of ideas that would turn Nigeria’s economic fortunes for the better,” he said.
Alhaji Tijjani Borodo, President, CIoD Nigeria, quoted the International Monetary Fund (IMF) projection that global economy was expected to slowdown to 2.9 per cent from three per cent in 2023.
Borodo stated that this declaration was a cause for concern, as it can result in reduced job opportunities, decreased consumer spending, and hindered business expansion.
“Coming home to Nigeria, the business environment has been less than favourable and has negatively impacted various sectors and industries.
“Also, insecurity remained a significant concern, with ongoing threats from insurgencies, banditry, and kidnappings in certain regions.
“The many economic challenges of the nation demand comprehensive and coordinated efforts from both the public and private sectors to foster a more conducive and stable business environment in Nigeria,” he said.
The CIoD president said that looking ahead to 2024, these challenges may pose obstacles, but they also present enormous opportunities for innovation and resilience.
He said addressing them through policy reforms, infrastructure investments, access to finance, and above all matchless ethical conduct, Nigeria’s business environment would thrive and contribute to economic growth and development.
Borodo tasked government to provide a supportive and conducive environment to accelerate economic recovery, restore investor confidence, attract new investments, and foster employment.
Dr Fatumata Coker, Chairman, National Organising Committee, ADC, said the event was crucial to forging of crucial alliances and the exploration of innovative strategies to steer Nigeria’s economic landscape toward sustained growth and resilience.
This, Coker said, was in recognition of the critical role that corporate governance plays in shaping the trajectory of our nation’s economy.
“The fusion of business acumen and sound governmental policies is instrumental in propelling Nigeria toward a future characterized by diversity, resilience, and sustainable development.
“Our assembly tonight is a testament to the collaborative spirit that defines the Institute.
“It reflects our collective commitment to effective governance, ethical leadership, and unwavering dedication to steering the ship of Nigeria’s economic destiny towards prosperity,” she said.
The News Agency of Nigeria (NAN) reports that the event had theme: “Driving Nigeria’s Economic Transformation and Diversification: The Role of Corporate Governance.”(NAN). READ ALSO:
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