The Nigeria Institute of Management (Chartered) has decried the alarming rate of business insolvency and attendant job losses in the country.

The President of the institute, Prof. Munzali Jibril, observed that the manufacturing sector along with small and medium businesses was the worst hit by the economic crisis in the country.

Speaking at the maiden edition of the corporate members’ forum of the institute in Lagos, Jibril stated that business operations and profitability had started declining in the second quarter of 2015.

Jibril said, “Without doubt, the persistent slump in global oil prices, falling oil revenue, worsening foreign exchange crisis and less-than-encouraging performance across all sectors of the economy have put corporate executives and entrepreneurs on their toes at the turn of 2016.

“It is against the foregoing background that the institute decided to hold this forum for its corporate members with a view to providing them a deeper understanding of the elements at play in the current economic downturn and how they impact business operations.”

Addressing the theme, ‘The Unfolding Economic Environment in 2016: Challenges and Strategic Responses,’ an economist and Chief Consultant, B. Adedipe Associates Limited, Dr. ‘Biodun Adedipe, advised business organisations in the country to adopt new business models and strategies.


http://www.punchng.com/lagos-nurtw-unveils-code-conduct-members-2/

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