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NITAD decries effects of insecurity on economy

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Ayoade Igbeyi

Experts at the Nigerian Institute of Training and Development (NITAD) have decried the lingering state of insecurity in the country as inimical to the nation’s economic growth and development, with a call on the Federal Government to strategise on early resolution of the situation.

The experts, in separate chats with The Guardian at NITAD Fellows’ Award/Development Fund in Lagos at the weekend, concurred that the current activities of terrorists, bandits and kidnappers have constituted drawbacks to the nation’s quest for industrial revolution and job creation in the economy.

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NITAD’s President and Chairman of Council, Mrs Ayoade Igbeyi stressed that urgent measures need to be made by relevant authorities to curb the current growth-retarding insecurity crisis in the country, as a foil against further economic retrogression.

Specifically, Igbeyi pointed out that the environment of learning and skill acquisition has been compromised by the activities of terrorists and bandits, signaling an untoward future for the economy.

“The prospects of economic growth and development are planned on manpower training and development. But when the environment for learning and skill acquisition is being compromised by the lingering state of insecurity, the future of the economy becomes blighted. How can the much talked about industrial revolution be achieved?”

She lamented that the operational profiles of corporate bodies that have become virtual, due to COVID-19 pandemic, are even being assailed by poor services from service providers, thereby creating avoidable challenges in effective service delivery to stakeholders.

Veteran sector operator and a Fellow of NITAD, Prince Gabriel Farotade said that the economy has been on the receiving end of the state of insecurity in the country.

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According to Farotade, “peaceful co-existence, which could have promoted commerce activities, has been adversely impaired. Training of personnel in corporate bodies has become more difficult due to the unpredictable security situation in the country. New industrial establishments are on a regrettable pause, while existing ones are shrinking in their respective operations.

“Besides, inflow of foreign investments has become stunted with capital flights now on the rise. Activities of terrorists and bandits need to be curbed if the nation is to realise the objectives of its yearly budgets.”

Also at the NITAD’s event, a legal practitioner and management consultant, Mr. Bamidele Ajayi urged effective partnerships among stakeholders in resolving the ongoing insecurity crisis in the economy.

Ajayi urged the governments at various tiers to evolve strategies that would bring a lasting peace in the country, to raise the hopes and aspirations of our youths.

Guest Speaker at the forum and Executive Director of Lafarge Africa, Mr. Gbemiga Owolabi prescribed effective training modules for corporate bodies and urged both trainers and trainees to adopt creative approaches that would bolster manpower training and development in the country.

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