‘Why Nigeria’s productivity level is low’
Nigeria’s national productivity growth rate is low due to infrastructure deficit, unemployment and youth challenges, constant strike actions, brain drain, corruption, insecurity, poor workers’ attitude to work and lately the ravaging COVID-19 pandemic, Chairman, governing council of the National Productivity Centre (NPC), Eyo Nsa Ekpo has said.
The NPC Chair, who stated this in Abuja at the 6th Foundation Day lecture of the National Productivity Centre, explained that productivity is crucial to a country’s competitiveness and its integration into the global economy.
He held that the application of the concept of productivity is of great benefit to businesses whether small, medium or big, individuals in all walks of life, every sector of the economy, the government and its institutions.
He added that productivity places a premium on maximum utilisation of resources for the production of goods and services, waste elimination, workplace safety, operational efficiencies and effectiveness of organisational systems, quality goods and services as desired by customers at the lowest possible cost.
Ekpo added: “Productivity improvement drive has become a major driving force behind economic development with total reliance on knowledge, creativity, innovation, wealth creation, employment generation and ultimately poverty reduction. Productivity is therefore aligned firmly with the dictates of a knowledge-based economy.”