President Bola Tinubu has called on accountants to leverage their expertise to help lead Nigeria toward a future defined by integrity, transparency, and accountability in governance. Addressing professionals in the financial sector, the president urged them to use their unique insights to create actionable plans and establish connections that would propel the nation forward.
Tinubu expressed concern over decades of underinvestment, which he said has hindered Nigeria’s economic growth. He acknowledged that the country is not yet where it needs to be and that its economic progress is insufficient to meet the expectations of its citizens. He emphasized the need for a more accelerated development strategy.
Speaking on the evolving governance landscape, President Tinubu highlighted that the challenges facing Nigeria also come with significant opportunities. He stressed the importance of innovative approaches and proactive strategies in tackling the nation’s economic and governance issues.
Furthermore, the president pointed to the rise of emerging technologies as an essential tool for improving accountability and transparency. He encouraged accountants to foster strong collaborations with policymakers, regulators, and industry professionals to effectively tap into these technological advancements.
The president’s remarks underscored his administration’s commitment to fostering transparency and accountability, urging accountants to be at the forefront of this transformative effort in shaping Nigeria’s governance and economic future.
President Tinubu, who was represented by Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, made this statement on Tuesday in his opening address at the 54th Annual Accountants Conference in Abuja, themed “Governance Reimagined: Mapping the Future.”
He said the theme captures aspirations and marks a significant milestone in the journey towards refining governance and fortifying accountability across our great nation.
“As we delve into the complexities of governance, I call upon each of you to participate actively in the dialogues unfolding over the next few days. Share your unique insights and forge new connections. Together, let us develop actionable plans to lead Nigeria towards a future where governance is synonymous with integrity, transparency, and accountability,” Tinubu said.
He called on accountants to use their professional skills to assist the country, stating, “Your profession provides you with the skill set to appreciate a company or government strategy. Some of you are at the heart of or have been involved in turnarounds for companies and in making choices necessary for survival in a competitive environment. The Renewed Hope agenda is our strategy for Nigeria to confront its reality: we are not where we want to be, we are not growing fast enough, and decades of underinvestment have limited the economy from delivering on its potential.”
He emphasized that the collective vision for Nigeria’s future is anchored on strengthening institutions and nurturing a pervasive culture of accountability, stressing that his administration is committed to leveraging cutting-edge technologies to boost transparency and efficiency while cultivating strategic partnerships that pave the way for sustainable development.
“Your role as accountants in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable. Your expertise does not merely shape our economic landscape; it fortifies the foundation of trust upon which our societal progress is built,” said President Tinubu.
He noted that the necessary choices, pleasant and otherwise, he made in the last 17 months were designed to halt the decline and set the country on a path to higher, sustainable, and inclusive growth.
“It is encouraging that GDP growth for the first and second quarters of 2024 was positive while inflation turned downward. The foreign exchange market is stabilizing, and we are seeing encouraging investment signals,” he said.
He highlighted that his administration is continuing with innovative reform measures, including the digitization of revenue collection and government services, a consumer credit system to boost manufacturing and enable access to goods and services, mortgage system reform to provide wider opportunities for homeownership, CNG penetration to offer cheaper and alternative energy sources, and an agriculture development fund to further de-risk agricultural investments.
According to the President, “Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of government are receiving higher allocations, enabling more support for vulnerable populations. Social investment spending is increasing, the minimum wage has risen, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.”
“Our collective vision for Nigeria’s future is anchored in strengthening our institutions and nurturing a pervasive culture of accountability. We are committed to leveraging cutting-edge technologies to boost transparency and efficiency while cultivating strategic partnerships that pave the way for sustainable development.”
He thanked the accountants for their dedication and commitment to the noble cause of reshaping the nation’s destiny and called on all to reimagine governance and map a future that generations will look upon with pride.
