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By Henry Uche
Deeply worried by the unprecedented debt burden of Nigeria and other myriads of problems bedeviling the country, the Institute of Chartered Secretaries & Administrators of Nigeria (ICSAN) with other experts drawn from economics, administration, management and other fields are set to painstakingly dissect Nigeria’s multifaceted challenges with the aim of preferring solutions at its 2022 annual conference.
At a pre- conference press brief held in Lagos recently, the vice president of ICSAN, Mrs. Funmilayo Ekundayo, revealed that seasoned industrialists, administrators, management experts and other economic eggheads would grace the occasion would do Justice on topical issues affecting Nigeria negatively.
With the theme: “National Debt Burden: Causes, Effects and Realistic Economic Solutions”, ICSAN’s VP maintained that the act of borrowing has never been a crime anywhere in the world, but the problem has been the borrower’s inability to manage such loans profitably and refund same as and when due.
According to her, Nigeria’s debt which is becoming unbecoming (standing over N41tr) has not really reflected in the life and wellbeing of Nigerians, hence the need to introspect and take more informed decisions regarding public financial resource management, instead of heaping undue debts burden for the next generation.
“Borrowing is not bad at all, it’s part of fiscal policy decisions of the government across board to meet some salient needs either for the immediate or in the future. The problem is poor debt management as it’s the case of Nigeria.
“If we get the right mix in place as we borrow, we get the right results because prudent management of debt boost economic growth and development, while misuse of same can be very precarious to any country,”
She affirmed that ICSAN would be consciously collaborating with specific professional bodies with the aim of offering sustainable solutions to Nigeria’s debilitating Socio-economic and political condition as critical stakeholders in the Nigeria project.
“We have been working with some professional bodies in Nigeria and we shall not give up on this course. We are taking the gospel of corporate governance and corporate social responsibility to some secondary schools and others institutions as it’s our culture to do.
“The experts at the conference would do Justice on: Public Administration: Entrenching Sound (Governance Principles for Macroeconomic Growth); Beyond Governance: The Role of Dedicated (Followership in participatory Democracy) and The Evolving Volatile, Uncertain, Complex, and (Ambiguous (VUCA) Compliance Landscape in Nigeria: A New Dashboard for the Chartered Secretary as the sub- themes, undoubtedly all these issues affects everyone of us no matter our different spheres of influence,” she added.
The cross – pollution and fertilization of ideas sessions would involve the Minister of Works & Housing, Babajide Fashola; Director General, Budget office of the federation; Mrs. Uto Ukpanah, Company secretary, MTN, among others.
