News

August 24, 2021

Stakeholders admonish government on cost-saving measure

By Ozioruva Aliu

BENIN CITY – STAKEHOLDERS have admonished government at all levels to adopt cost-saving measures in project implementation as a panacea to the nation’s dwindling resources.

They spoke at the 19th International Cost Management Conference of the Chartered Institute of Cost Management of Nigeria (CICMN) in Benin on Tuesday.

With the theme: “Cost Management Strategies: Formulation and Implementation for Optimum Impact” various speakers who described the theme as apt as the face of the current economic reality in the country, called for continuous review of cost management processes by the government.

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Secretary to State Government, Osarodion Ogie, called on CICMN to use its platform to come up with initiatives that would assist the public sector in its cost management strategies.

Represented by the Permanent Secretary, Government House, Mrs. Deborah Enakhimion, Ogie who declared the conference opened, acknowledged the contribution of CICMN towards the development of the state, and called for continued support.

He said “The importance of the skills which members of your institute bring to bear on both public and private sectors of the Nigerian economy cannot be overemphasised.

“It is therefore expected that conference of this nature where minds come together to deliberate on topical issues affecting global economics should be taken seriously by all and sundry,” he concluded.

In his welcome address, Mr Nosa Omoregie, CICMN Registrar, said the institute has produced and injected over 5000 cost managers into the Nigerian Economy.

“We have also participated in many economic summits in Nigeria with substantial contribution to the development of Nigeria
“Our Cost Management Conference is an annual event bringing together Cost Managers from different organizations.
“This year’s Conference with the theme “Cost Management Strategies: formulation and implementation for Optimum impact” is expected to refocus members and other participants on the skill, knowledge, and attitude to manage cost,” he said.