NIM records N59.4m surplus in 2019

THE President and Chairman of Council, Nigerian Institute of Management (Chartered) Mrs. Patience Ehizogie Anabor, has said that amidst the Institute’s challenging external and internal environments, it generated a net surplus of N59.4 million in 2019.

She said the figure was almost similar to its 2018 performance in spite of dwindling revenue. Anabor gave the hint at the 59th Annual General Meet- ing (AGM) of the Institute virtually conducted recently. She said this resulted in a total revenue of N516.7million, foreign exchange gains of N893, 412 and expenditure of N458.1million for the year ended December 31, 2019.

“In addition, cost control measures were strengthened with- out compromising service delivery to all our stakeholders.

“Reserve Fund account was created to replace Investment fund and was funded accordingly. The Institute’s esteemed individual and corporate members had a tremendous input in this achievement due to their patronage and publicity of the Institute’s products/programs. There will be continuous improvements as the flag of the Institute continues to fly,” she assured.

She revealed that the real growth rate of Nigeria’s economy was at 1.93 per cent, which grew by 0.37 percent and stood at 2.327 per cent as at end of 2019.

“It is obvious that this is marginally higher than 1.9 per cent of 2018. The performance of the domes- tic economy was driven by relatively high crude oil prices in the international commodities market.