How Nigeria’s economy can thrive via Strategic management expertise

The director, directorate of General Studies at the Nigerian Defence Academy, Kaduna, Prof. Zakaree Saheed, has called for the application of strategic management expertise to address Nigeria’s persistent socio-economic challenges
He stated this in Abuja on Thursday night, during his guest lecture at the Annual Corporate Dinner 2024, organised by the Nigerian Institute of Management (Chartered), Maitama Chapter, Abuja.
The dinner was held under the theme “Managing Uncertainty: Leveraging Management Expertise in Overcoming Socio-economic Challenges.”
In his speech, Saheed highlighted Nigeria’s vast resources but also pointed out the country’s struggles with infrastructure, unemployment, poverty, insecurity, and political instability.
He argued that a strategic application of management expertise organising, coordinating, and optimising resources is key to overcoming these challenges.
Saheed emphasised the importance of human capital development, particularly in Nigeria’s youthful population, and the need for education reform.
“Nigeria remains the largest economy in Africa, endowed with significant natural and human resources. Yet, it continues to grapple with inadequate infrastructure, low industrial productivity, and challenging business environments. There are compounding multifaceted socio-economic issues, such as high unemployment, deficits in education, rising poverty, and insecurity stemming from insurgency and poor governance.
“These problems erode public confidence and economic stability, further escalated by political instability, which creates a climate of uncertainty for policymakers, businesses, and individuals.
“We need to address the root causes of these problems before we can find lasting solutions. This requires a strategic application of management expertise to navigate a sustainable path forward. By management expertise, I mean the ability to organize, coordinate, and optimize resources to achieve desired outcomes.
“I believe that a clearly defined vision and mission form the foundation of policy formation and the establishment of a national agenda. If we know what we want—whether it is to become a technology-driven society, an educational hub, or an agricultural powerhouse—based on that, we can establish a national agenda,” he said.
The chairman of the Maitama Chapter, Engr. Abdul Lawal Zubair, said the dinner provided an opportunity to connect and reflect, as it collectively advances the principles and values of effective management across all sectors of the nation.
“As we enjoy the evening’s agenda, from insightful presentations and captivating performances to a delightful dining experience, let us also take this moment to strengthen the bonds that unite us as professional managers and ambassadors of excellence,” he said.