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Poverty reduction, growth critical to nation’s stability, says IoD

By Gloria Nwafor
21 October 2021   |   4:07 am
The Institute of Directors (IoD) Nigeria has said that poverty reduction and sustained growth are critical to the nation’s economic stability. 

The Institute of Directors (IoD) Nigeria has said that poverty reduction and sustained growth are critical to the nation’s economic stability.

With the country constrained by many issues, the institute urged directors to navigate their businesses to overcome the challenges.

President and Chairman of Council, IoD, Ije Jidenma, during the fellows’ investiture ceremony organised by the institute, reiterated that the institute had continued to demonstrate greater concerns and commitment to work with all stakeholders in order to engender a business-friendly environment for a robust economic growth.

Specifically, she mentioned that the institute had continued to advocate good corporate governance in both the private and public sector, as well as among thought leaders across sectors to push forward innovative ideas.

For the new fellows, the IoD boss urged them to continue to uphold good corporate governance principles and be guided by the ethical code of the institute in their work places and business affairs.

She said the yearly event is part of the institute’s custom, during which members are honoured for their commitment and contributions to the growth and development of the institute and the country.

“I expect that fellows of the institute will lead the way in our advocacy train by being the ambassadors of the institute in all their professional endeavours. I also expect you all to proudly wear the golden lapel pin of the institute at all times and to all places, so that others can see you as representatives of our great institute,” she said.

The guest speaker and Managing Director, Agusto & Co., Olabode Agusto, spoke on the theme ‘Stimulating Nigeria’s economic growth and development: Lessons and opportunities from recent challenges.’

He called for more capital from highly leveraged banks with room to allow positive interest rates.

He urged the government to reduce local currency debts by selling some assets and dedicating proceeds towards debt reduction.

He also called for improved tax compliance, skills acquisition and subsidies for the poor and weak.

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