NES 2015: Private Sector Urged To Play Active Role In Global Economy | Independent Newspapers Limited
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NES 2015: Private Sector Urged To Play Active Role In Global Economy

Posted: Oct 16, 2015 at 9:24 am   /   by   /   comments (0)

By Isuma Mark in Abuja
Nigerian business players have been urged to adopt global standard and cast off local syndrome so as to play active role in global economic super structure.
This call was made on Wednesday during the 21st Nigerian Economic Summit with the theme: Tough Choices: Achieving Competitive Inclusive Growth and Sustainability holden in Abuja.
The panelists comprising Wonu Adetayo, Ayodele Odusola among others bemoaned local syndrome often applied to business management and corporate governance instead of the ever expanding and accommodating global financial superstructure that has seen some companies in South Africa, Egypt, Ethiopia, and other African countries taken a huge size of the pie.
Particularly, the private industry players have been alerted to the fact that the United Nations Global Compact is the largest corporate sustainability initiative in the world with over 10, 000 signatories based in more than 140 countries and domestic networks existing or emerging in over 100 countries.
According to the panelists, taking active role will enable the country meet the Sustainable Development Goals (SDGs) before the end of 2030.
The panelists enumerated a number of strategies that will enable businesses survive. One they say is to adopt sustainability, track the performance of MDAs and know which has been achieved and develop measures to identify non-financial aspect of MDGs.
It was suggested that actionable steps must be taken and years of relying on pure government patronage should be done away with so that collectively SDGs can be attained.
They further stressed that it was better to embed SDGs into policy framework and guidelines of government especially with regards to the operations of MDAs, which carry out government policies for suatainable attainment.