The Risk Managers Society of Nigeria has urged government at all levels to implement risk management measures in order to manage the nation’s challenges following the pandemic and mitigate its negative economic impacts.
This was disclosed at an event to prefer solutions to economic risks post pandemic in Abuja.
The COVID 19 pandemic exposed the nation’s vulnerability and lack of preparedness in all sectors.
It was the deepest recession in Nigeria since the 1980s, and both the private and public sectors were hard hit.
But, the economy began to recover by the end of 2020, and inflation began to rise in 2021.
Food items were particularly hard hit, owing to widespread insecurity and other factors such as trade restrictions.
This had an impact on the human capital, livelihoods, and welfare of the majority of Nigerian households.
The Risk Managers Society of Nigeria members are carefully examining these problems in an effort to propose solutions that will aid in preparing the country for upcoming difficulties.
Leaders of the group agreed that government, at all levels, must do everything possible to combat insecurity because it impedes any nation’s ability to develop.
Additionally, they called on the Federal Government to instill a culture of risk management across all industries in order to better position the country for upcoming economic challenges.
“Globally, proactive risk management deployment is relevant across all industries, and governance cannot be understated.
The ongoing Russian-Ukrainian crisis, which came after the COVID-19 pandemic’s devastating effects, has significantly increased the need for corporate and national integration and risk management implementation.
