The Private Sector Development for Democracy Forum (PSDdF) says it is committed to engendering democracy, focusing on strengthening democratic institutions in Nigeria for good governance and economic growth. To begin the process, the organization said it is now set to present a National Agenda for Democratic Strengthening (NADS) to the Federal Government of Nigeria for implementation.
Like many African countries, Nigeria is still relatively new to the democratic system of government. Although it returned to democratic rule in 1999, it is mostly considered a fragile democracy, a reason the organization said the country still must fully adapt to all the changes that come with democracy in certain areas to continue to make it attractive for business and to drive economic growth.
The NADS is focused on four priority areas – strengthening democratic institutions such as the judiciary, media, and electoral bodies; empowering government officials and citizens through capacity building and civic education; promoting private sector integrity, accountability, and resilience against corruption; and minimizing inequality and promoting equitable wealth distribution through land tenure reforms.
“The choice of the priority areas hinged on the potential catalytic effect to positively impact other democratic concerns and the subsequent effect on Nigeria’s economy,” the organization said in a statement.
The PSDdF is developing the NADS through a comprehensive methodology that includes contributions and validations from members and the steering committee. Members of the PSDdF span across private sector organizations, civil society organizations, think tanks, media and academia, including Nigeria Employers’ Consultative Association (NECA); Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA); Association of Nigerian Women Business Network (ANWBN); Fintech Association of Nigeria (FintechNGR); Africa Network for Environment and Economic Justice (ANEEJ); Accountability Lab and BudgIT.
Others are Centre for Fiscal Transparency and Integrity Watch (CEFTIW); School of Media and Communications, Pan-Atlantic University -Coalition of Journalists for Social Change (SMC-CNJ); BusinessDay Media Foundation; Committee of Vice Chancellors of Nigerian Universities; Lagos Business School, Pan-Atlantic University and National Institute for Policy and Strategic Studies (NIPSS).
The organisers say the agenda for democracy will present recommendations for enhancing Nigeria’s democratic landscape to foster innovation, fair competition, economic stability, and growth.
“The National Agenda for Democratic Strengthening is a recognition of the crucial role and responsibility of the private sector in promoting stable democracy,” said the chairman of the PSDdF steering committee, Mr Yemi Candide-Johnson. “By bringing together members of the Forum to invest in the pillars of inclusive democracy for all Nigerians, we can help to sustain national development and progress.”
He said the national democratic strengthening document will be launched in September to commemorate the International Day of Democracy, marking a significant step towards strengthening Nigerian democracy. The launch is expected to serve as a call to action for all stakeholders to work together to implement the agenda’s recommendations.
The forum seeks to maintain its importance in Nigeria and on the African continent not only by creating a conducive environment for private sector companies but also by sharing knowledge and experiences from stakeholders that will present an opportunity for collaboration and for influencing policies that align with PSDdF’s vision of democratic strengthening.
CEO of the American Business Council, Margaret Olele said data-driven dialogue and strategic collaboration between the private sector, civil society, and policymakers remain critical in strengthening democratic institutions in Nigeria. As the present administration celebrates its first anniversary, she reaffirms PSDdF’s dedication to creating a platform for businesses to actively protect democratic values, freedoms, and institutions to support sustainable and profitable business environments.
PSDdF, an initiative by the Center for International Private Enterprise (CIPE) and the American Business Council Nigeria (ABC Nigeria), is a coalition of private sector organizations, civil society organizations, think tanks, and media partners committed to perfecting Nigeria’s democratic systems and strengthening institutions that support the rule of law thereby contributing to a sustainable and thriving business environment in Nigeria.
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