IoD: Significant Part of Nigeria’s Economic Woes Self-induced

Gilbert Ekugbe

The Institute of Directors (IoD) Nigeria has stated that most of the economic challenges faced in the country are not globally-driven, but self-induced.

Indeed, the Institute stated that world is characterised by its volatility, uncertainty, complexity and ambiguity which has been worsened by the Russia-Ukraine war, adding that the Institute is committed to finding lasting solutions to take Nigeria out of doldrums.

The president, IoD, Nigeria, Mrs. Ije Jidenma, at its August 2022 new members’ induction ceremony in Lagos, however stated that the Institute is raising the bar and attracting Directors of like minds to build solid accountability and probity templates.

She said IoD Nigeria prides itself as the National Champion and advocate for good corporate governance in the public and private sectors of the economy and even in the non-governmental not-for profit sector. 

“I, therefore, heartily welcome the new members waiting to be inducted into an Institute of Directors that is a great place of honour, prestige and reputation in the Nigerian business environment. I also commend their individual guests and our special guests who are here to support them,” she said.

The IoD Nigeria boss said IoD Nigeria over the years has made tremendous impact in corporate space in the public and private sectors of the Nigerian economy, stressing that the institute has groomed Directors into becoming highly responsible ambassadors of Corporate Governance and sound ethical practices as is obtainable globally. 

Also speaking, the Consultant, Agokei & Co, Dr. Nosike Agokei in his presentation tagged “Winning strategies for navigating current inflationary trends” said core inflaton represents the long-run trend in the price level, adding that in measuring long-run inflaton, transitory price changes should be excluded.