Source: Punch Newspaper
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has urged the federal government to prioritize reforms in the power sector and address macroeconomic challenges to support micro, small, and medium enterprises (MSMEs) and foster economic development. Additionally, the institute highlighted the importance of access to business loans for small enterprises.
Speaking during a press briefing in Lagos, ICSAN President Funmilayo Ekundayo underscored the severe impact of unreliable electricity on businesses, particularly MSMEs. “The repeated collapse of the national grid significantly impedes economic progress and stifles the growth of MSMEs. Resolving these power sector challenges is essential for driving economic development and enabling businesses to succeed,” she stated.
Ekundayo further emphasized the need to diversify Nigeria’s economy and reduce its heavy reliance on oil exports. She stressed the importance of bolstering support for MSMEs, describing them as the foundation of the nation’s economy. “Strengthening MSMEs will stabilize the economy and pave the way for sustainable growth,” she remarked.
Highlighting the institute’s accomplishments over the past year, the ICSAN president noted significant strides in promoting corporate governance. “Good governance is critical for economic stability. Over the past year, we have established strategic partnerships with key stakeholders, increased our membership by more than 300, and launched our first chapter in Kaduna State,” she explained.
Ekundayo also announced that ICSAN signed a memorandum of understanding with the National Institute for Legislative and Democratic Studies in collaboration with the University of Benin. Additionally, she revealed that the institute is renovating its national secretariat and plans to begin constructing a new secretariat in 2025, with an expected completion timeline of three years.
Uto Ukpanah, the Vice President of ICSAN, reiterated the institute’s unwavering commitment to promoting governance and professionalism as a means to enhance national development. Similarly, Francis Olawale, ICSAN’s Honorary Treasurer, stressed the importance of fiscal discipline, urging the government to reduce governance costs and adopt technology to attract investors and stimulate economic growth.
Nkechi Onyenso, Chairman of ICSAN’s Publicity and Advocacy Committee, reaffirmed the institute’s dedication to transparency and corporate governance. She highlighted ICSAN’s role in fostering accountability both within the association and across the nation.
The leadership of ICSAN collectively called for urgent reforms and strategic measures to tackle Nigeria’s economic challenges and unlock the country’s full potential.
