Post-Election Risk Management Strategy; What Nigerians Need to Know and a Game Changer for the Winners

 

In the past weeks and coming weeks ahead, Nigerians have elected and will be electing the next set of the nation’s leaders at Federal, State and Local Government levels. Great leaders are those who are committed to, and passionate about, building a great nation and in the next few days, Nigerians will bear witness to an emerging set of new leaders.

 

The crucial questions to ask are – what will this set of leaders bring to the table and what do they need to know to be able to change the political and economic landscape of Nigeria?

 

Nation-building could be defined as simply as the vision, passion, commitment and efforts of those emerging as leaders to increase Nigeria’s capacities for the self-actualisation of her inherent greatness in focused, measurable, realistic, time-bound and sustainable ways. Nigerians are looking for men and women who are committed to building this nation and making her great; and as we approach these key dates, most Nigerians, businesses and international communities are getting increasingly uncertain about what will happen in Nigeria during and post the 2019 elections.

 

Risk Management – a Game-Changer for Emerging Leaders

The understanding of risk, and the knowledge of its management starts with clearly articulated outcomes or objectives as defined by an organisation, or in this case, a nation. What will be a good outcome for Nigeria and Nigerians at this year’s election? What will make both local and international stakeholders respect, honour and accept us into the committee of great nations? What will give Nigeria, as a nation, the reputation that will earn her increased direct foreign investments, the perception as a place to be and reality felt by Nigerians making them proud of this nation?

 

Great leaders set objectives; they can paint a picture of change and make realistic promises that give their followers hope, motivating them to commit to well laid-out plans. However, in the place of planning and setting objectives, uncertainties arise. Risk is simply the effect of uncertainty on set objectives or a combination of the probability of an event and its consequence. Consequences can range from positive to negative.

 

“When a society fails to produce leaders who can make correct decisions at high levels, in the long term, it will lose its competitiveness, prosperity, and security” – unknown

 

Why Manage Post-Electoral Risk Exposures?

 “A nation is not defined by its borders or the boundaries of its land mass rather, a nation is defined by diverse people who have been unified by a cause and a value system and who are committed to a vision for the type of society they wish to live in and give to generations to come.” ― Unknown

Some reasons why we need to manage post-electoral risk exposures include: –

  • Preserving national unity and safety;
  • Protecting human lives and properties;
  • Strengthening our democratic processes;
  • Minimising the impact of uncertainties surrounding oil prices.
  • Preventing investors’ capital flight or possible withdrawals;
  • Preventing the possible collapse of Nigerian Stock Market;
  • Protecting local businesses and shareholders’ capital;
  • Making Nigeria attractive to both foreign investors and partners;
  • Preventing major set-backs for local institutions, businesses and organisations;

 

What Nigerians should know and do… Download full article

Post-Election Risk Management Strategy

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Head, Broker Dealer Regulation, Nigerian Stock Exchange
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  • Joachim Adenusi

    Managing Director

    Joachim is a former Director of the Institute of Risk Management (IRM). He is a chartered insurer (ACII) & a certified trainer for the CII and IRM.

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