For the nation’s economy to grow and be sustainable, government and business policies must be aligned with global best practices, chairman of United Nigeria Airlines, Prof. Obiora Okonkwo, has said.
Prof. Okonkwo stated this in an address at the maiden International Management, Business and Job Fair Conference of University of Abuja Business School yesterday.
The three-day event with the theme, ‘Realigning Current Economic Realities In Emerging Economies To Sustainable Business Practices’ brought together academics and industry experts.
They discussed new narratives for the sustainability of business practices in the country.
Prof Okonkwo was Director of Administration of United Nigeria Airlines, Mr. Linus Awute.
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Prof. Okonkwo noted that mainstreaming sustainability practices into policy directives would help bring Nigeria at par with global trends and open the economy to more investments.
“I believe that our national governments should create an enabling environment for businesses to adopt sustainable practices by implementing effective regulations and providing incentives like tax breaks for green businesses, subsidies for renewable energy projects, and green procurement policies, for sustainable investment,” he said.
According to him “businesses, public and private, must take responsibility for their environmental and social impacts and integrate sustainability into their business objectives and strategies by deliberately adopting sustainable production processes, implementing responsible supply chain management, and engaging in corporate social responsibility initiatives that promote environmental, economic and social sustainability.”
Prof. Okonkwo also advocated that governments, businesses, and non-governmental organizations ought to create a collaborative platform through which they can engage and educate the public about sustainable practices and their importance to the environment.
“This level of conscientisation can change mindsets and create a demand for sustainable products and services.”
He expressed optimism that the country’s business environment can create the needed impetus to drive needed economic growth with the adoption of sustainability responsibility in both government and private business.
“I do not 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 Nigeria’s economic trajectory, ensuring a prosperous, sustainable, and resilient future for generations to come,” he said.