ICSAN urges public-private sector collaboration for economic growth

The President of the Governing Council of the Institute of Chartered Secretaries and Administrators of Nigeria, Funmi Ekundayo, has said that there is a need for collaboration between the public and private sectors to drive national growth.

In a statement made available to our correspondent, she said this at the ICSAN’s annual public lecture, themed ‘Driving Sustainable Development: Public-Private Partnership as a Catalyst’, in Akwa Ibom State.

Ekundayo said, “For Nigeria to transform her potentials into concrete growth, there is no gainsaying the fact that the nation needs to have greater collaboration between the public and private sectors,” Ekundayo stated.

She called on the government to not only provide resources but also create an enabling environment that supports business and entrepreneurship.

“The government must put in place mechanisms, processes, and institutions that foster a conducive environment for growth.”

She also urged the private sector to bring technical expertise and entrepreneurial dynamism to the table.

The ICSAN president went on to stress the importance of implementing economic policies properly to create a business environment conducive to both domestic and foreign investments, stating, “It is by ensuring proper implementation of economic policies that we can lay the foundations for enduring business practices and sustainable development.”

She noted that the upcoming FRC Exposure Draft of the Nigerian Not-For-Profit Governance Code 2023 and the Public Sector Governance Code would complete the governance framework, deepening corporate governance practices in Nigeria.

The Chief Executive Officer of the Nigeria Economic Summit Group, Tayo Aduloju, emphasised that sustainable development is a critical global discourse.

He highlighted the need for clear roles for both the public and private sectors within a developmental state to foster optimal economic activities.

Aduloju elaborated on the roles of the state in facilitating development, including using public resources for social infrastructure and encouraging private sector involvement.

“The state must design policy packages that stimulate private economic activities and align them with societal developmental goals,” he said.

ICSAN recently inducted over 300 members.