Home Infotech Knowledge based economy essential for national growth—ITF boss

Knowledge based economy essential for national growth—ITF boss

UFOMBA UZUEGBU, Asst News Editor

Director General and Chief Executive Officer of the Industrial Fund (ITF), Dr Juliet Chukkas-Onaeko has restated the need to adequately equip the current workforce in Nigeria, if the country  must experience faster growth and development.
She said knowledge based economy was required to keep abreast in areas of specialization, in order to remain relevant and competitive
Onaeko who spoke in Lagos on Tuesday during the 48th Human Resource Development seminar of the ITF, said the seminar was timely, putting into consideration the need to sustain the momentum for organizational growth and sustainability in Nigeria.
The ITF boss said the need for strategic workforce planning in the nation’s economy could not be overemphasized, stressing that studies, had shown that most organizations are not very effective in predicting future talent demands.
Urging organisations to adopt an efficient and effective approach to workforce planning, the ITF boss said her organisation  was  particularly concerned about the continued relevance and success regarding the accomplishment of the mandate.
“We recognize that in the pursuit of this, we experience a high attrition rate on our staff by way of retirement, transfer of service and general staff turnover.
“The vacancies created by these groups need to be adequately filled without creating a gap in performance. This is why strategic workforce planning is inevitable in all proactive establishments.
“The choice of ITF as an agency to drive the skill content of the Nigerian Industrial Revolution Plan attests to these roles. It gladdens my heart even more that the Fund could sustain the tempo of the Human Resource Development (HRD) seminar thus far.
“Obviously, with a knowledge based economy, the need to keep abreast of happenings in one’s field of specialization in order to remain relevant and competitive becomes pertinent”, she added.
Speaking in the same vein, the Director of Research and Curriculum at the ITF, Mrs Folusho Samuel, said the fund would  continue to initiate actions that will create a perfect workforce capable to driving the nation’s economy forward.
She explained the seminar is part of ITF strategies to improve build capacities, create opportunities for entrepreneurship and self development and employment.
Chairman of the seminar, Mr. Kachi Okezie expressed optimistic that Africa would not be written off in the area of economic growth and development, given the relevant skill training by the ITF.
He however called on all training institutions in the country to rise up to the challenge of training students in skills capable of uplifting the nation’s development and growth.

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