The Nigerian Institute of Management (NIM) recently held its 65th Annual Conference in Tafawa Balewa Square, where experts gathered to discuss the role of management in Nigeria's economic development. Dr. Dakuku Peterside, a renowned management expert, delivered a lead presentation highlighting the limitations of revenue collection as a measure of management effectiveness. He argued that management encompasses more than just collecting revenue, and that Nigeria's resources must be optimized to enhance the dignity of its citizens and showcase its manpower capabilities.
According to Dr. Peterside, the Nigeria Revenue Service is the only agency empowered to collect revenue, and it is also responsible for determining what is due to Nigeria from various sources. He emphasized that management acumen is crucial in enhancing Nigeria's capacity as a maritime country, citing his experience as former Director General of NIMASA. During his tenure, NIMASA's remittance to the Federal coffers grew from $2 billion to $60 billion, demonstrating the potential for effective management to drive economic growth.
Dr. Peterside further stressed that NIMASA's capabilities extend beyond remitting money to the Federal coffers. He argued that if allowed to operate at a higher capacity, NIMASA could enable a value chain that could help the federal government attain a $1 trillion GDP, similar to that of small countries like the Netherlands and Singapore. He cited Botswana as an example of a landlocked country with a high per capita GDP, suggesting that Nigeria's maritime resources could be leveraged to achieve similar success.
The conference also highlighted the need for the Nigerian Institute of Management to adopt an advocacy stance to promote effective management practices across the country. Dr. Peterside emphasized that NIM must be present in all agencies and ministries, demanding that managerial capacity be enhanced with integrity, transparency, accountability, equity, fairness, efficiency, and effectiveness. These core values are essential for Nigeria's economic development and can be achieved through effective management.
Established 65 years ago, the Nigerian Institute of Management has played a significant role in shaping management performance in Nigeria. Its members are present in all professions, and their contributions have been visible in various sectors. The Speaker of Bauchi State House of Assembly noted that almost all members of the Assembly are NIM members, and their input has been instrumental in making Bauchi State a success.
The Governor of Bauchi State has pledged to support NIM's management promotion and advocacy agenda, recognizing the importance of effective management in driving economic growth. The President of NIM also emphasized the need for collaboration between the institute and government agencies to promote management best practices. By working together, Nigeria can overcome its management challenges and achieve its economic potential.
The Nigerian Institute of Management's 65th Annual Conference provided a platform for experts to discuss the role of management in Nigeria's economic development. The conference highlighted the need for effective management practices beyond revenue collection, and the importance of advocacy in promoting these practices. As Nigeria seeks to drive economic growth, the institute's role in shaping management performance will be crucial in achieving this goal.
Key points
- Effective management practices are essential for Nigeria's economic development.
- The Nigerian Institute of Management must adopt an advocacy stance to promote management best practices across the country.
- Nigeria's maritime resources can be leveraged to achieve a $1 trillion GDP through effective management.
