President Bola Tinubu has said that collective action among government, business leaders, civil society and the citizenry was crucial for economic stability, as the nation strives towards prosperity.Tinubu, represented by the Head of Service of the Federation, Mrs Didi Walson-Jack, said this at the Nigerian Institute of Management Chartered (NIM) Annual National Management Conference on Monday in Port Harcourt.

The two day conference’s themed: “Economic Stability and National Security: The Contending Issues and the Way Forward”, was monitored via zoom. The President noted that economic stability was not solely an economic issue; but had direct correlation with national security.He said that the nation was at a crossroads where the interplay between economic health and national security could not be overstated.He said that the nation must harness its collective expertise to develop robust policies that would stimulate economic growth while ensuring the safety and security of citizens.Tinubu said that within the short time of steering the ship of the nation, his administration had made appreciable strides in diversifying the economy.He said that there had been significant investments in some critical sectors, such as agriculture, technology, and renewable energy.He, however, observed that in the bid to quickly kick-start and stabilise the weak economy, his administration had taken some hard economic decisions such as the floating of the Naira and removal of fuel subsidy.“We recognise the fact that the pains occasioned by these reformative economic policies have been biting hard on the citizenry.“But we are convinced that the economy and Nigerians will start reaping the benefits of all the sacrifices in no distant time.“Security is the cornerstone of national prosperity, as a secure environment is a prerequisite for economic activities to flourish.“However, Nigeria faces a host of security challenges including terrorism, banditry, kidnapping and communal clashes.“It is imperative that we adopt a multifaceted approach to both economic and security challenges,” he said.Tinubu also urged leaders, managers, and professionals to foster collaboration across sectors by creating platforms for dialogue between the public and private sectors.He also lauded NIM’s commitment to excellence in management practices to unlock the full potential of national resources and human capital.Sir Siminalayi Fubara, the Governor of Rivers State, urged leaders and professional managers on thoughtful dialogue and strategic planning, to secure a prosperous and safe future for all Nigerians.The Governor, represented by Prof. Ngozi Odu, Deputy Governor of the state, said that Nigeria with its vast natural resources and dynamic population, had immense potentials.Fubara, however, said that in spite of the economic capabilities, the country faced significant economic challenges that required immediate and sustained attention.He said that to achieve economic stability, Nigeria must focus on diversifying the economy beyond oil dependence.He called for investment in infrastructure to support various sectors, and fostering an environment conducive to small and medium enterprisesThe governor also said that economic stability could not be achieved in isolation, but was inextricably linked with national security.He added that the security challenges facing our nation not only threatened the lives of citizens, but also hindered economic growth and development.“The interplay between economic stability and national security presents us with several contending issues, but in spite of these challenges, I stand before you today with hope and determination.“The path forward requires collective effort, innovative thinking, and unwavering commitment to the Nigerian project.“As leaders and managers, transparency in government operations, accountability in public spending, and zero tolerance for corruption should be our guiding principles.“The challenges we face do not respect state boundaries, so, we must foster greater cooperation between states and with our neighbouring countries to address cross-border economic and security issues,” he said.Mrs Christiana Atako, President, NIM, said that the conference was the Institute’s platform to discuss contemporary, burning issue of national interest with a view to proffering solutions.Atako said that Nigeria, as a developing nation, grappled with several economic and security challenges that directly impacted its economy.She said that the challenges of national security had precipitated untold adverse effect on the economy, affecting price, output, employment, balance of trade, among other indicators of socioeconomic development.“Addressing these contending issues requires a comprehensive approach that involves good governance, anti-corruption measures, diversification of the economy, investment in infrastructure and human capital.“It also requires effective security strategies and community engagement, as well as regional and international cooperation.“Sustained efforts in economic and security reforms; infrastructure development and investment; social and economic inclusion programmes, regional and international cooperation and diplomacy are needed urgently,” she said. (NAN)