Institute tasks public sector operators on sustainable practices

The Institute of Chartered Accountants of Nigeria (ICAN) has urged public sector operators to embrace sustainable practices as a tool to creating long-term value and foster company longevity.

In a communiqué signed by ICAN President, Tijani Isa and Registrar/Chief Executive, Prof. Ahmed Kumshe, said for economic growth and development, the adoption of sustainability practices in the country would help to determine the flow of new and mobile factors of production.

According to the institute, considering the huge, youthful population and access to abundant natural resources, Nigeria is well positioned to attract new investment needed for the next wave of economic prosperity, adding that to build a prosperous nation, all enterprises including the public sector, must imbibe sustainables practices in all their ac­tivities.

ICAN also emphasised the need for a strong institutional framework in the country as a necessary requirement for the pursuit of a sustainable economy.

It noted that effective, transparent and accountable institutions are essential for sustainable development and critical for governments across all levels to deliver services to the people.

The institute argued that there is a connection between governance issues, environmental and social challenges, stressing that the recent flooding and drought in Nigeria are examples of how governance issues have given rise to environmental and social issues.

The association applauded the Federal Government for the establishment of the National Council on Climate Change (NCCC), noting that it is a watershed in the efforts of the country to show commitment to environmental issues.