Growth Prospect

Growth Prospect

Given the impact made so far within the last years of the existence of the institute, its prospect is very high. With over five (5) thousand Associate members and 50 Fellows within fourteen years we project a trend in growth after chartered as represented below.
# Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10
Student Members 15,000 20,000 35,000 40,000 55,000 65,000 85,000 95,000 120,000 200,000
Associate Members 10,000 25,000 30,000 35,000 45,000 55,000 70,000 85,000 100,000 150,000
Fellows 200 500 2,500 25,000 30,000 35,000 45,000 50,000 55,000 70,000
Corporate 5,000 6,000 8,000 10,000 20,000 45,000 50,000 50,000 55,000 58,000

Challenges Faced as A Consequence of
Failure to Grant Chartered Status

Given the impact made so far within the last years of the existence of the institute, its prospect is very high. With over five (5) thousand Associate members and 50 Fellows within fourteen years we project a trend in growth after chartered as represented below.
  • Denial of over 5,000 Cost Managers in Nigeria the right to exist and function in public governance. (Reference is made to the Department of Establishment directive that government agencies should only recognize chartered Institute. This is not withstanding their relevance in public governance). This in itself is a breach of the fundamental rights of Nigerian as enshrined in the Constitution.
  • Limitation to scope of the institute
  • Impeded growth of cost management practice in Nigeria and further widening the already existing gap between developed and developing economy in the use of this advanced resource management thoughts.
  • Prevent and deny existing cost management practitioners the right to properly exist and develop (denial of freedom of association)
  • Impede economic growth
  • Continued trend of high corporate mortality
  • Increasing wave of resource misused and corruption
  • Increased investment risk hindering investment in flow and entrepreneur