Namadi: Good Governance Crucial for Economic Stability

James Emejo in Abuja

The Governor of Jigawa State, Mallam Umar Namadi, yesterday said the quest for economic stability, growth and development could be elusive without adherence to the principles of good governance including accountability, transparency, rule of law and participation.

Speaking while declaring the 54th Annual Conference of the Institute of Chartered Accountant of Nigeria (ICAN) with the theme, “Governance Reimagined: Mapping the Future”, closed in Abuja, Namadi described governance as necessary condition for creating and sustaining an enabling environment for economic growth and development.

He said, “As we close the 54th Annual Conference, we keenly look forward to how outcomes of the proceedings of the conference would help in reshaping our governance institutions and contributing to economic stability, growth, development and improved socio economic wellbeing of the citizens of Nigeria.”

The governor commended the organisers of the conference particularly for the choice of theme – especially considering the recent “#endbadgovernance” protests that took place in many parts of our country.

He said the “unfortunate incidence raises the need to reexamine, or more appropriately, to reimagine the concept in a very insightful manner to inform or map-out future policies and appropriate responses to ensure sustainable improvements of socioeconomic wellbeing of the citizens and to foster greater understanding of the compact or social contract between governments and the governed.”

He maintained that when the governance environment is imbued with the principles of accountability, transparency, rule of law and participation, the requisite environment would have been provided creating and sustaining an enabling environment for economic growth and development.

He said, “Talking about Poverty Reduction Initiatives of the UNDP, Late Kofi Anan, former Secretary General of the United Nations, said ‘Good Governance is perhaps the single most important factor in eradicating poverty and promoting development’”.

He said, “Accordingly, it is my firm believe that the discussions over the last three days have deeply considered relationships between good governance, economic reforms, social contract and nation building and were robust enough to provide outcomes that would go a long way in providing critical information in mapping out pragmatic strategies for building a stronger polity.”

He said, “In all these, what is apparent is that governance is about leadership. It is about how people are ruled, and how institutions of the state are administered and regulated.

“It is about the institutions, processes, and laws that define the leadership environment. When governance is good, characterised by accountability, transparency, rule of law, participation and being responsive to the yearnings and aspirations of the citizens, development is assured.

“Conversely, absence of good governance directly undermines or even completely prevents the attainment of development objectives. Bad governance almost always renders the leadership incapable of delivering on whatever positive vision they may have of the society.

“No matter how well-conceived a development programme may appear to be, once the critical elements or principles of good governance such as transparency and public accountability are missing, or even poor participation through non-involvement of key stakeholders during implementation, the programme would have been doomed for failure.”

Namadi, however, pointed out that ICAN members have a key role to play in promoting good governance in the governance environment, adding that the Act establishing the institute also sets standards for professional discipline for which it establishes the Accountants Disciplinary Tribunal.

Accordingly, the governor noted that uploading ethical values in the profession around openness, integrity, accountability, honesty, selflessness and objectivity are paramount in ensuring good governance not only in the practice of the accounting profession but in ensuring that the governance environment was good enough to promote growth and development.

He noted that the ICAN Accountability Index as an evidence-based tool for assessing the soundness, effectiveness and efficiency of Public Financial Management practices in the country remained generally focused on improving accountability in governance.

He said, “It is all about promoting sound public expenditure and financial management systems which are critical to strengthening the governance institutions at all levels.

“I am happy that Jigawa State has consistently been one of the best performing States over the years since the introduction of ICAN Accountability Index which tells a lot of good stories on how the principles of good governance have been well-entrenched in the state.”

In his concluding remarks, however, ICAN President, Chief Davidson Alaribe, said, “As we draw the curtains on this significant event, I encourage us all to embrace the innovative and practicable resolutions that have emanated from this conference.

“We must ensure that we go back to our various spheres of life with a firm determination to be part of the privileged professionals and individuals who will make a change in the system of governance and create a path for a sustainable future at both national and global levels.”