The Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN, has enjoined state governments yet to implement the new National Minimum Wage to do so as it will improve the standard of living.

L-R: Registrar/CEO, Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mr. Babatunde Oladipo Okuneye, ACIS, Vice President of ICSAN, Mrs. Uto Ukpanah, FCIS, President of ICSAN, Mrs. Funmi Ekundayo, FCIS, Hon. Treasurer, ICSAN, Mr. Francis Olawale, FCIS, Chairman, Publicity and Advocacy Committee, Mrs. Nkechi Onyenso, FCIS during the 3rd Presidential Press Parley held in Lagos.

ICSAN says the Minimum Wage increment would help improve quality of life, standard of living, boost economic growth and increase productivity, had the potential to inflate the economy.

It believes that the Minimum Wage will significantly improve the purchasing power of many Nigerians and consequently stimulate a vibrant economy.

Its President and Council Chairman, Funmi Ekundayo, said this at the Institute’s Presidential Media Parley in Lagos, saying the wage was a welcome development for Nigerian workers across both Public and Private sectors.

Ekundayo said the Government is doing a lot as regards to reforms, but the room that is largest in this world is the room for improvement.

According to her, the impact of the various Federal Government’s different sectoral reforms to boost and revamp the economy will soon be felt by the citizens.

Ekundayo stated that the different sectoral reforms which required gestational period would begin to gain a lot of traction in 2025.

She urged citizens to continue to be resilient for a positive horizon and a more prosperous Nigeria where the different reforms would have taken shape.

In her words, the government should address inflation figures and continue with the right reforms in place to stabilise the economy.

Ekundayo said in a bid to diversify away from oil export, government must do better in the area of mechanised agriculture and provide the necessary support such as power and other essential infrastructure for Micro, Small and Medium Enterprises (MSME) and manufacturing.

The ICSAN first female President said the government must develop the country’s human capital, spur innovation and ensure productivity is on the high side to create new economic growth opportunities.

The ICSAN president also urged government to address the cost of governance, ensuring it is at the barest minimum, to encourage the citizens to make the sacrifices required of them.

She added that the government must expend more efforts to encourage digitalisation, while engendering policy sustainability.

According to her, there is no environment with higher yields than Nigeria, but policy summersaults have been observed to affect investors interests.

In her words, if the country has a sustainable policy regime, investors will troop in and the economy will flourish better.

Speaking on the institute’s achievements, the ICSAN president said the institute had been able to record some remarkable milestones, forging partnership with various stakeholders.

She added that ICSAN had increased its penetration into the public sector to further entrench good public governance in the sector.

According to Ekundayo, the Institute had also unveiled master’s in governance programme, signed several Memorandums of Understanding, got over 300 new members, collaborated with several state governments and began penetration in the northern part of the country.

Ekundayo revealed that the institute’s old secretariat had been demolished, the award of contract signed off and work would soon begin.

She called for support in achieving the projected ICSAN tower, while the institute continued to partner with relevant stakeholders, provide value to members and make its contributions to national development.

The ICSAN President lauded the media for its worthy partnership in propagating the ethos of good corporate governance and pledged that the relationship would be deepened in the coming years.