ICSAN urges public-private sector collaboration for economic growth

The Chairman of the Board of Directors of the Institute of Chartered Secretaries and Administrators of Nigeria, Funmi Ekundayo, has said there is need for collaboration between the public and private sectors to boost national growth.

She said this in a statement made available to our correspondent during the annual public lecture of ICSAN, themed ‘Promoting Sustainable Development: Public-Private Partnerships as Catalysts’, in Akwa Ibom State.

Ekundayo said: “If Nigeria is to translate its potential into tangible growth, there is no doubt that greater collaboration between the public and private sectors is required,” Ekundayo said.

She called on the government not only to provide resources but also to create a favourable climate that supports businesses and entrepreneurship.

“Government must put in place mechanisms, processes and institutions that create an enabling environment for growth.”

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

The ICSAN President then stressed the importance of properly implementing economic policies to create a business environment conducive to both domestic and foreign investment. He stated: “By ensuring proper implementation of economic policies, we can lay the foundation for sustainable 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 and deepen corporate governance practices in Nigeria.

Tayo Aduloju, Chief Executive Officer of the Nigeria Economic Summit Group, stressed that sustainable development is a crucial global debate.

He stressed the need for clear roles for both the public and private sectors within a developing state to promote optimal economic activities.

Aduloju elaborated on the role of the state in facilitating development, including the use of public funds for social infrastructure and encouraging private sector involvement.

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

ICSAN recently admitted over 300 members.