The President of the Institute of Chartered Secretaries and Administrators of Nigeria, Funmilayo Ekundayo, has called on the federal government to prioritise reforms in the power sector and address macroeconomic challenges to support micro, small, and medium enterprises.
Ekundayo, speaking at a press parley in Lagos on Thursday, emphasised the adverse effects of unstable electricity on businesses. She stated, “The frequent collapse of the national grid significantly hampers economic growth and stifles MSMEs. Addressing these power challenges is critical to oiling the wheels of economic development and enabling businesses to thrive.”
She also highlighted the importance of diversifying Nigeria’s economy beyond oil exports, noting that, “We have always advocated for diversification. The government needs to strengthen support for MSMEs, as they are the backbone of the economy. This will stabilise the economy and ensure sustainable growth.”
Ekundayo lauded the institute’s achievements over the past 12 months, including its strides in advancing good corporate governance.
“Good corporate governance is necessary for economic stability. We have forged relevant partnerships with stakeholders, recorded significant penetration into the public sector, and signed a memorandum of understanding with the National Institute for Legislative and Democratic Studies in conjunction with the University of Benin. Additionally, our membership increased by over 300, and we established our first charter in Kaduna State,” she added.
Ekundayo also noted ICSAN’s ongoing refurbishment of its national secretariat and revealed plans for the future.
“Our projection for 2025 includes providing greater value to our members and contributing effectively to the economy. The construction of our new secretariat is set to kick off next year and is expected to be completed within two to three years,” she disclosed.
The Vice President of ICSAN, Uto Ukpanah, reiterated the institute’s dedication to national development.
“ICSAN is at the core of making the country better through the promotion of governance and professionalism,” Ukpanah said.
The Honorary Treasurer, Francis Olawale, stressed the need for fiscal discipline in governance. He stated, “The government must reduce the cost of governance to its barest minimum. Accountability and the adoption of technology are crucial to attracting investors and boosting the economy.”
In his remarks, the chairman of the Publicity and Advocacy Committee, ICSAN, Nkechi Onyenso, noted that the institute is committed to maintaining corporate governance and ensuring transparency within its association and the country at large.