By Simeon Mpamugoh
The Managing Director and Chief Executive Officer, Economic Associates, Dr Ayo Teriba, has revealed that only countries that embraced the fast-paced changes in the global ecosystem would be part of the leading indicators in the global crucible.
He stated this Wednesday at the 60th-anniversary lecture of the Nigeria Institute of Management (Chartered) held at the Management House, Victoria Island Lagos.
The theme of the lecture was “Celebrating 60 Years of Management: Poised For More!”.
Teriba noted that declining output, export of manufacturing of industrial goods, cross-border mergers and acquisitions would form the new waves of global deal-making. He identified stratégic importance of migration and growing waves of innovation as the hallmark of fragmentation of global trade noting that countries with diaspora-friendly, and investor-friendly policies were now attracting large capital inflows to underpin domestic liquidity, stability, inclusive and diversified growth in addition to full employment, share prosperity and national cohesion.
The renowned economist observed that Foreign Direct Investment (FDI) and remittances emblematises financial globalisation in the same way exports had emblematises real globalisation, he said.
‘To export technological innovation, human capital, and global liquidity to enhance the wealth of states, cities and townships, there is need for possession, place, product and people-based strategies.
‘The world has evolved from export manufacturing centric to a service knowledge-centric ecosystem. So it is the preservation of wealth in the fast-paced, pervasive, disruptive technological advancements and optimisation of wealth portfolios among others that can help countries embrace the fast-paced changes in the global ecosystem,’ he said.
In an opening address delivered by President and Chairman of Council, Nigerian Institute of Management (Chartered), Mrs Patience Ehizogie Anabor, (FNIM), she said at the event attended virtually and physically ‘that the institute is celebrating diamond jubilee is not only a very big deal but also worth celebrating in more ways than one. There had been a flurry of activities that took place prior to the lecture: The unveiling of the 60th Anniversary logo and jingle, visit an orphanage and an old people’s home culminating in the anniversary lecture holding simultaneously across most of the thirty-seven branches and six zones of the Institute.’
The Institute was established in 1961 by a group of management professionals to bridge the perceived gap in the management of the nation’s public and private sectors, attaining charter status through Act 14 of 2003. We make bold to say that in the past 60 years, the Institute has done a good job of fulfilling its mandate by bequeathing an enduring professional management practice to the nation. With about 200,000 individual and 400 corporate membership strengths that cut across all professions made up of high net worth professionals and blue-chip organisations, NIM has grown to become the foremost, largest and biggest multidisciplinary professional management Institute in Africa.
‘Since the core mandate of the Institute is capacity building especially in the areas of management and leadership development, the Institute has been in the forefront of this in the critical sectors of the nation’s economy. It has successfully delivered professional management, capacity building, consultancy, re-engineering and human capital development solutions to many organisations in public and private sectors of the economy in collaboration with both local and international organisations. The Institute has over the years, been involved in providing a workable roadmap to the government in solving issues of governance through its numerous public advocacy programmes and activities.”As we journey into the next sixty years, the Institute will not only deploy the best means of getting things done but will work smart to achieve the right result for the benefit of all its stakeholders to perpetuate our tradition of a mutually beneficial relationship,’ Anabor said.