By Gistflash News
Aug 19, 2021
The Nigerian Institute of Management (NIM) Chartered has called for stronger institutional frameworks aimed at galvanising Nigeria’s entrepreneurial activities towards improved economic growth and development.
Dr Emmanuel Ibe, Director, Department of Police Investigation, Police Service Commission, made the call at the NIM 2021 awards, fellows and spouses day luncheon on Thursday in Lagos.
The event was themed: “Our Prosperous Enterprise, Our Secured Future: The Place of Institution Building.”
Ibe stated that the economic future of Nigerians and the national economy was to a great extent dependent on the character of its institutional setting or lack of it.
According to him, the problem with most developing countries was not the absence of entrepreneurial activities but its misdirection toward socially destructive activities.
He tasked the government on the creation of better enabling environments and stronger reforms for entrepreneurship to thrive, noting that no business could flourish with the institutional support of the state.
He stressed that the aim of economic policy and social reforms must be to re-establish institutional frameworks that allowed socially productive entrepreneurial activity to flourish.
“Small and medium scale enterprises are the panacea for the economic development of Nigeria and the interest in small and medium scale enterprises would contribute to the creation of jobs.
“It would also lead to reduction in income disparity, production of goods and services in the economy, as well as providing a fertile ground for skill development and acquisition, and a vehicle for technological innovation and development,” he said.
He added that the much talked about environment for entrepreneurship was nothing more than the web of rules, regulations and norms of interpersonal and inter-group transactions in the business arena husbanded by public authorities either directly or indirectly.
“My claim, therefore, is that only a society with an institutional environment that favours productive entrepreneurship can generate the knowledge necessary for constant productivity and economic prosperity,” he said.
Mrs Patience Anabor, president, NIM, charged the newly inducted 113 fellows to take the new position as a call to higher responsibility and service to the Institute, the management profession and the nation.
“From this day forward, each of you is required to devote more of your time, talent, treasure and thinking to the service of the institute and mankind.
“I enjoin you to place your competencies and specialisations at the disposal of the Institute as you might be called upon to be of service to her in your area of professional calling,” she said.
The News Agency of Nigeria (NAN) reports that the Institute conferred life member awards on Asiwaju Michael Olawale-Cole and 11 others.
Also, BUA Group of companies received the NIM’s management excellence award, while the Nigerian Maritime Administration and Safety Agency (NIMASA) received Mobolaji-Bank Anthony award.
NAN