IoD advocates corporate policies to prepare Nigeria for digital future

The Institute of Directors (IoD) Nigeria has called for better ways to foster the digital economy and introduce progressive corporate policies to prepare the country for a digital future.

The institute said the country needed to be strategic in identifying and prioritising initiatives that could give it a head start in an increasingly competitive and digitally-enabled environment.

President and Chairman of Governing Council, IoD, Dr. Ije Jidenma, said this at this year’s women’s directors’ luncheon. She acknowledged that the growth of the Information and Communication Technology (ICT) sector in recent years could accelerate the growth and development process of the Nigerian economy if given the required attention.

She said the theme ‘Virtually Unstoppable: Defining the New Inclusive Economy’ was apt as it would focus on how boards should organise, leverage, finance and monitor technology, as well as the opportunities it creates, particularly for women.

The IoD boss said for Nigeria to achieve its true potential, it needs to be empowered with the necessary digital competencies. She maintained that there was a need to identify and appreciate access to digital tools and technologies while operating within a regulatory environment that protects the safety and interests of all stakeholders.

Noting that digital technology had helped to cope with the challenges in social and business lives, she stressed that it was essential that the productivity gains from digital technology adoption become less divisive and more inclusive.

According to her, better access to the sources of productivity, inclusive productivity measures and coordinated and evidence-based policymaking are key to making digital technology benefit all.

Chairman, Women Directors Development Committee (WDDC) Debola Osibogun, said with the way the world is changing, there is a need for women leaders to position themselves to meet the new challenges, adapt to the tide and take charge of their respective constituencies to engender growth and development.

She said the concept of an inclusive economy had provided the right opportunity for women leaders to achieve this, there was a need to focus on the strategies and actions on how “we can eliminate the barriers towards achieving this, how women can leverage on the ongoing digital revolution to improve their ICT skills and what women in leadership roles can do to facilitate the attainment of this key goal for women in both the private and public sectors respectively.

“Oftentimes, women have had to bear the brunt of managing the new normal at the home front, work and business, especially those in leadership roles and there is a strong need to proffer strategies, as well as action plans that will help them to manage challenges ahead through effective leadership and by leveraging technology.