The only panacea to tackled the current economic challenges bedeviling the nation is for the leaders to be sincere with the policies leading to promoting good governance and fostering economic growth and development.
To this end, the ultimate goal to achieve to foster economic growth is to explore the principles and strategies that can be employed to promote good governance and foster economic recovery and growth in challenging times.
These formed the kernel of discussion at the Nigeria Union of journalists Zone B public lecture held at the NuJ Press Centre, Iwo-Ibadan road in Osogbo, the Osun State capital
The topic of the lecture titled “Enhancing Good Governance in a Beleaguered Economy,” Was delieverd by Prof Adeola Akande, the immediate past Chairman of the Nigerian Commission of the Board Commissioners NCC.
Akande who was represented by Dr Idowu Johnson said that in the face of economic crises and uncertainty, the role of effective governance becomes paramount in guiding a nation towards stability, prosperity, and sustainable growth.
He said the objective of the lecture was to explore the principles and strategies that could be employed to promote good governance and foster economic recovery and growth in challenging times.
His words: “As many of you are aware, we find ourselves in an era of economic uncertainty and challenges. Beleaguered economies face multiple issues such as high unemployment rates, reduced productivity, and limited access to resources.
“To tackle these challenges effectively, it is crucial to explore the role of good governance in fostering good governance, sustainable development, and economic growth.
“Understanding Good Governance
before delving into specific measures, let us first define what good governance entails.
“Good governance is the foundation upon which a successful and resilient economy is built. Good governance is a system where the government and its institutions act transparently, fairly, and efficiently, with a strong emphasis on accountability.
“It is characterized by adherence to the rule of law, protection of human rights, and the equitable distribution of resources. ”
According to the don ,good governance ensures that decision-making processes are fair, just, and reflect the interests of all citizens. In the context of a beleaguered economy, good governance becomes even more critical to restore public trust and confidence.
He stated that the most crucial elements in a nation’s development is strong governance and that no matter how big or little, how much resources it has, or where it is located, a country may prosper with excellent government.
Akande hinted that a nation with an abundance of natural resources cannot prosper without effective government.
“For instance, Nigeria ought to be among the most prosperous and successful nations in the world if size and resources were the deciding factors but it is not.
“Again, if we look at Singapore, it is clear that since it started its road towards self-government in 1959 and independence in 1965, strong governance has assisted Singapore in overcoming many of its inherent obstacles.
“Beleaguered economy is one that faces significant challenges, such as high inflation, unemployment, declining productivity, fiscal deficits, and a lack of investor confidence. In such circumstances, the need for strong governance is amplified, as it can help steer the economy toward recovery and sustainable growth.
Speaking, the Vice President of NUJ B Zone, Comrade Aderonke Afebioye -Samo said the removal of subsidy is good but government owns Nigerians a duty to ameliorate the suffering of the people .
She said good governance is a fundamental to economic growth, political stability and
development adding that good governance encourages responsiveness to the yearning and aspiration of the people during trying times.
Comrade Abiodun Olalere, former NUJ , Osun State Council chairman in his remark commended the organisers of the lecture saying it is coming at the right time Nigerians are facing challenges caused by the subsidy removal .
He said removing subsidy is not a bad thing but the sincerity and the judicious used of the savings for the good of the common Nigerians is the problem hence he urged the government to quickly put measures in place to alleviate the sufferering of Nigerians.
