In conclusion, I will like to state that realigning current economic realities to sustainable business practices in Nigeria, is crucial to reaffirming Nigeria’s commitment to a future where economic growth and environmental stewardship are sustainably intertwined. Therefore, there is the urgent need for Nigeria, as an emerging economy, to transition towards a sustainable economic model, leveraging innovation, technology, and collaboration to drive growth.
This means that our country must begin to mainstream climate change and conservation in its economic development policies as well as create avenues to foster inclusive economic growth, job creation and enhance competitiveness and global relevance by improving on its human development index, wellbeing and quality of life. It is therefore imperative that policymakers and entrepreneurs in Nigeria and other emerging economies enthrone sustainable development in their national agendas, invest in education, innovation, and infrastructure, foster public-private partnerships and promote sustainable business models.
Given the focus of the lecture on sustainability, governments across Nigeria must offer incentives, including tax breaks and subsidies to businesses involved in innovative solutions to our most pressing climate challenges. This is even as businesses and corporations- public and private-must take responsibility for their environmental and social impacts by integrating sustainability in their business objectives and strategies. Adopting sustainable production processes, implementing responsible supply chain management and engaging in corporate social responsibility initiatives are not only good for society but also good for business.
The all-hands-on-deck approach which I mentioned earlier demands robust and sustained collaboration between governments, businesses and civil society for the sake of our planet. The growing global demand for sustainable products and services is a consequence of this partnership.If we run on this road, I have no doubt that we will succeed in creating a future where Nigeria’s economic growth is balanced with sustainability responsibility and social equity that will, together, redefine our economic trajectory, ensuring a prosperous, sustainable, and resilient future for generations to come.
• Prof Okonkwo Chairman of United Nigeria Airlines, delivered this lecture at international management, business and job fair organised by University of Abuja.
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