The Nigerian Economic Summit Group has urged business leaders to pay special attention to public sector leadership, as well as to monitor and review policies in place to foster economic growth.
This was revealed by Mr Asue Ighodalo, Chairman of the Board of Directors of NESG, at the inauguration of Dr Ije Jidenna as the 17th President and Chairman of the Council of the Institute of Directors (IoD) on Sunday in Lagos.
“Nigeria in Challenging Times: Rethinking the Role of Governance in Leadership,” was the theme of the event.
What they have to say
Ighodalo stated that business leaders have a critical role to play in boosting economic growth through leadership and good governance, citing that countries that achieved economic growth and development had political leadership and institutions through a participating private sector.
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“These times, more than ever, demand visionary and exemplary leadership in our public and private sectors, as we have experienced two economic recessions and a pandemic in the last six years.
“There has also been a decline in demand for goods and services, a fiscal deficit, high unemployment, volatile oil revenues, high inflation, currency depreciation, and deterioration of health-care facilities, among other things.
“Directors and business leaders have not fully realized the power we can wield as a cohesive, transformative body, and have not gathered the will and discipline to effectively push for a policy review and to encourage the government to try a different approach.
“We must pay special attention to our public sector leadership, as well as monitor and review policies in place to foster economic growth.”
Ighodalo went on to say that the private sector must force and elevate discussions about competence, vision, social policies, integrity, love for the Nigerian people, and understanding of the dynamic world of politics.