- The private sector plays a crucial role in advancing good governance
- The major challenge confronting Nigeria was that most of the leaders are not prepared for leadership
Lagos State Governor, Mr Babajide Sanwo-Olu, has urged Nigerians, particularly Lagos residents, to promote the values that underpin good governance in order to ensure a future in which the state’s economic environment empowers and elevates its citizens.
Governor Sanwo-Olu made this call on Wednesday at the opening ceremony of the Chartered Institute of Directors’ 2024 Annual Conference, which was held at Eko Hotels and Suites on Victoria Island in Lagos. He argued that strong governmental institutions, effective leadership, and an unwavering commitment to transparency would help build a strong and thriving economy.
The governor stated during the call that the conference theme, “Good Governance as a Catalyst for Economic Recovery, Growth, and Development,” captured current challenges and illuminated a path to a more resilient and prosperous future.
Sanwo-Olu noted that good governance is more than a moral obligation but an economic imperative, saying that it is the key to unlocking the nation’s potential, attracting vital investment, and creating opportunities for the citizens.
This was just as he further noted that transparency, accountability, and trust were the cornerstones of any thriving economy, pointing out that “history has shown that where these principles are absent, nations struggle.”
“We have seen the devastating consequences of poor governance, where corruption and inefficiency stifle growth and erode trust in institutions. But history has also shown us that with strong governmental institutions, effective leadership, and an unwavering commitment to transparency, we can build a strong and thriving economy,” he said.
Governor Sanwo-Olu expressed his administration’s deep commitment to good governance, economic growth, and development, adding, “Here in Lagos State, we are deeply committed to embedding these values in every facet of our administration.”
“We have launched reforms to strengthen institutions, promote transparency, and ensure accountability across sectors. Capacity-building initiatives equip our public servants with the skills needed to drive meaningful economic growth, and we are seeing the fruits of these efforts across the state.
“But government alone cannot achieve sustainable progress. The private sector plays a crucial role in advancing good governance. By adhering to ethical business practices, investing in sustainable initiatives, and insisting on transparency in governmental dealings, we can create an environment that fosters transparency and economic stability. Together, we can bridge the gap between intention and action,” the governor said.
Former Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, while delivering the conference lecture, called for a reform of the leadership recruitment process, noting that the major challenge confronting Nigeria was that most of the leaders are not prepared for leadership.
Jega enjoined Nigerians to pay serious attention to nurturing and entrenching democratic governance to place Nigeria on a sustainable trajectory of ‘people-orientated development processes’ rather than mere good governance being promoted by the World Bank.
“We should not swallow hook, line, and sinker what they bring to us. We must be very careful in terms of what measures they have suggested to us because if we don’t do that, we may inadvertently fall into greater medium- and long-term problems even if we think we are seeing short-term benefits from that kind of engagement,” he counselled.
President and Chairman of Council of the Chartered Institute of Directors, Alhaji Tijjani Borodo, in his remark, said the Institute proudly leads the charge in promoting corporate governance across the country.
The chairman of the occasion, Mr. Mutiu Sunmonu, said character is the bedrock of good governance and good corporate practices.