Experts drawn from management, leadership, economics, corporate and public administration among others, have expressed fear that Nigeria could become a dumping ground for substandard products if political and economic leaders fail to fix the infrastructure deficit and other problems urgently.
The experts expressed their concern in Lagos at the 45th Annual Conference & Dinner/Awards of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).
According to them, ‘Nigeria is not getting it alright. We are yet to get it all well both in the administration and management of resources. The evidence is there. Incessant borrowing is becoming unbecoming. Economic squalor has become Nigerians’ narrative. Nigeria was better and safer in the 50s and 60s, but instead of us improving and developing we are becoming worse. Thus, we need to rise now and redeem this country.
‘We must position our self to avoid being a dumping ground for substandard products. This country belongs to all of us. We must not denounce Nigeria despite all odds. This government must not incur debt for children unborn to pay. Nigerians are not seeing the relevance of the money borrowed so far. Our top priority should be a focus on mass manufacturing else Nigeria would be at the receiving end.’
Speaking, the Minister of Industry, Trade and Investment, Otunba Adeniyi, who spoke via Zoom, called on Nigerians to consciously work towards restoring investors’ confidence.
Adeniyi, who was the chairman of the conference, pledged the ministry’s readiness to partner with ICSAN to achieve both the ministry’s objectives and ICSAN’s goal.
‘We are faced with some challenges, but we must not lose hope. We need to work on restoring investors’ confidence. We shall work with ICSAN to bring about the desired change we hope to see for the good of all,’ he added.
In a keynote address, a Professor of Law, Akin Oyebode, who spoke on “AFCFTA and National Development: Issues, Challenges and Opportunities”, maintained that the future of Africa would depend to a great extent, on the success African countries are able to make off from AFCFTA.
The don stressed the need for reform in order to place African countries at a vantage position so that productivity can be enhanced and enable them to partake effectively in the production, distribution and exchange of goods and services in the world.
‘The global political economy would apprehend the necessity to establish much-needed reforms. The present global scheme of international economic relations where Africa is at the bottom of the ladder is, quite frankly, unsustainable and requires a drastic review.
‘The lopsided international division of labour, as well as inequitable terms of trade and unequal balance of payments, must be confronted as we get set for a new international economic order. This is imperative if Africa intends to reposition itself from the periphery of global trade and investment and become an active role actor in the scheme of things.’
Oyebode advised that Africa may venture into megaprojects and take advantage of its endowments and harness the benefits of increased intra-African exchange of goods and services. This, according to him, would inevitably entail reconfiguring and rationalisation of Africa’s current economies as well as harmonisation of national plans, policies, programs in order to reduce waste, duplication and blunt the thrust of unbridled nationalism in favour of common good and international well-being.
Analysing the problem and prospects of AFCFTA, he affirmed that AfCTA since its take-off has not secured the requisite traction. The similarity in the goods and products of different African countries has not availed the complementarity which diversity would have facilitated.
‘It does not appear as if the various African countries have sufficiently grasped the intricacies of economic integration on the African continent so as to be able to fulfil its objectives.
THE SUN
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