Hamzat,Balogun, Awoyemi Harp on a Viable Nigerian Governance Model At 7th Christopher Kolade Lecture

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Monday, July 01, 2019 / 11.10AM / Proshare News / Header Image Credit: WebTV

 

Lagos State Deputy Governor Engr. Obafemi Hamzat, Mr. Bolaji Balogun, MD/CEO Chapel Hill Denham and Mr. Olufemi Awoyemi, Founder/Chairman of Proshare have all emphasized a Nigerian governance structure and model that works for the economy and citizens.

The need for an inclusive governance structure was the major resolution at the 7th Christopher Kolade Lecture Series of Business Integrity, organized by the Convention on Business Integrity.  

The Lecture Series started in 2013, is an annual event to celebrate a Nigerian icon of integrity, Dr. Christopher Kolade, who was former Chairman of the Convention on Business Integrity.  

Mr. Bolaji Balogun, who was the keynote speaker at the event, made a strong case for Infrastructure Investment in the country. 

According to him, “Infrastructure Investments is critical to Nigeria’s sustainable prosperity.” 

Speaking further, Balogun called on the government to revisit the issue of fuel subsidy, suggesting its removal and channelling of the funds saved from removal of subsidy to infrastructure and education. 

With increased investments in infrastructure and education, Balogun believes that economic opportunities would expand for millions of Nigerians, who will witness a reduction in poverty and social misery index. 

The Chapel Hill Denham CEO also called for the effective utilization of the Nigerian Capital Market, for the listing of privatized companies granted critical sector licenses. 

Guest speaker Mr. Olufemi Awoyemi, FCA, in his presentation decried the fact that the Nigerian governance structure was not designed to deliver excellence. 

According to him, “We cannot build a thriving economy without a thriving society founded on principles, precepts & statutes that supports and promotes excellence & equity. There cannot be a meaningful conversation about business integrity in the absence of sovereign integrity." 

Awoyemi stressed that there was a clear need to reduce the activities of non-state actors in the nation, to guarantee an environment that thrives on the rule of law and restore the trust of citizens.  

“If Nigeria is to grow a sustainable employment-generating economy, then policies must be proactive rather than reactive, and ideas must be big, bold and visionary,” Awoyemi said. 

Mr. Awoyemi also called for Key Performance Indicators(KPIs) to be set for yet to be named Ministers, an effective partnership between the National Assembly and the Nigeria Economic Summit Group and the deployment of technology to lead seamless transition and transformation in the following areas;

  • Trademarks and Intellectual Property Rights
  • SEC Nigeria: Introduce the US SEC EDGAR type model 
  • Court Systems: Deploying Central server for courts and improving the processes.
  • Corporate Affairs Commission: Adopt the  UK Company House Model 
  • Police Services: Deploy a Central database on the operations of police officers.
  • Traffic Registry: In this area, cooperation between the Federal and State Governments will be key from the FRSC to the VIO.
  • Passport Application: Effective management of issues like visa applications, by leveraging technology will be critical.


The Deputy Governor of Lagos State Engr Obafemi Hamzat who represented the Governor extolled Dr. Christopher Kolade as a great example of a leader who values integrity in the nation.

 

In response to the presentation of  Balogun, the Deputy Governor called for the restructuring of the nation, which will allow States like Lagos to Control a larger part of the resources in the state, equipping them to administer governance effectively.

 

Dr. Kolade, in his remarks, made a strong case for politics to be utilized as a tool to define what good governance is in Nigeria.



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