NIM advises firms on present economic downturn

In a bid to cope with the nation’s present economic challenges, the Nigerian Institute of Managing (NIM), has called on companies to reevaluate their vision and mission so as to ensure that it synchronises with the environment.

Speaking at the Corporate Members’ Forum organised by NIM, guest speaker, Dr. Biodun Adedipe expressed concerns over Nigeria’s present economic challenges.

Adedipe who was speaking on the topic; “The unfolding Economic Environment in 2016”, identified some of the challenges facing the country, to include: over-dependence on hydrocarbons for foreign earnings and government revenue; bloated government recurrent expenditure; high unemployment rate which is largely youth dominated 10.4 per cent unemployment and 18.7 per cent underemployment; high cost of doing businesses and threatened source of foreign earnings.