Funmi Ekundayo, President and Chairman of the Institute of Chartered Secretaries and Administrators of Nigeria, has emphasized the importance of a united effort between the public and private sectors to propel national progress.
Speaking at ICSAN’s annual public lecture, titled ‘Driving Sustainable Development: Public-Private Partnership as a Catalyst,’ held in Akwa Ibom State, Ekundayo highlighted the need for enhanced cooperation to transform Nigeria’s potential into tangible growth.
She urged the government to not only allocate resources but also foster an environment that supports business and entrepreneurship. “The government needs to establish mechanisms, processes, and institutions that create a conducive environment for growth,” Ekundayo asserted. Additionally, she called on the private sector to contribute technical expertise and entrepreneurial energy.
Ekundayo also stressed the significance of effective economic policy implementation to create a favorable business environment for both local and international investors. “Proper execution of economic policies is crucial for laying the groundwork for lasting business practices and sustainable development,” she explained.
She pointed out that the forthcoming FRC Exposure Draft of the Nigerian Not-For-Profit Governance Code 2023 and the Public Sector Governance Code will enhance the governance framework and strengthen corporate governance practices in Nigeria.
Tayo Aduloju, CEO of the Nigeria Economic Summit Group, underscored the importance of sustainable development as a global priority. He stressed the need for clearly defined roles for both public and private sectors within a developmental framework to maximize economic activities.
Aduloju discussed the state’s role in promoting development, including utilizing public resources for social infrastructure and encouraging private sector participation. “The state must craft policy packages that stimulate private economic activities while aligning them with societal developmental objectives,” he noted.
