State governors and council chairmen have been advised to make adequate use of the opportunity offered by huge increase in financial resources presently accruing to states, to perform better in governance.
The board member representing Southeast in the North East Development Commission(NEDC), Hon. Sam Onuigbo, gave the advice weekend at the South East Zonal Summit of the Nigerian Institute of Management (Chattered), held in Umuahia.
Onuigbo, who was honoured by NIM with a Distinguished Service Award, observed in post-award remarks that there has been a triple increase in revenue allocation from the centre to the states and LGs since the inception of President Bola Ahmed Tinubu’s administration.
He attributed the surge in financial resources to Tinubu’s courageous removal of oil subsidy, which had been riddled with corruption and wastages of resources that could have been deployed to improve the living standards of the masses.
The two-term member of the House of Representatives, therefore challenged governors and council chairmen to make effective use of the increase in FAAC earnings to engender more development in infrastructure, and improvement in people’s welfare.
“The governors are getting money , more than three times of what they got when I was the Commissioner for Finance (in Abia State). The local governments are also getting more money after the removal of subsidy,” he said.
Onuigbo stated that if the chief executives of states and councils would manage the enhanced allocations effectively, they would be in good stead to attain Mr. President’s goal of making life better for Nigerians.
Nonetheless, he demanded that political leaders must be accountable and transparent in the management of resources and ensure that the collective patrimony reflects on the well-being of the people.
He said: “All we have to ask for is a lot of transparency on the side of those who are in leadership. They should be transparent and make sure that they support Mr. President in trying to move the economy in the direction that Mr. President is driving it”.
The NEDC Board member expressed optimism that the removal of fuel subsidy and other economic policies of President Tinubu would soon bear other desired fruits aside the enhanced revenue profiles of all tiers of government.
The summit themed: “Navigating Nigeria’s Economic Environment to Achieve Sustainable Corporate and Household Economic Growth”, featured the visit to Abia State of the NIM President and Chairman of Council, Commodore Abimbola Ayuba (rtd.).
It was well attended by NIM members from across the five states of the Southeast, as well as many dignitaries from the corporate world and the academia.
Onuigbo thanked NIM for the honour the bestowed on him and pledged sustained support to the foremost professional body.
He encouraged young generation of Nigerians to join NIM and other professional bodies in order to properly equip and prepare themselves for the current technological advancement.
Earlier in his welcome address, the NIM President, Ayuba, noted the theme of the summit was appropriate and timely given the
apparent threat of loss of human jobs by the introduction of Artificial Intelligence(AI) powered machines and devices.
He stated that whoever wished to remain relevant in the evolving society, even in the face of artificial intelligence, must be ready to retool themselves with updated management skills.
Ayuba explained that the essence of the NIM summit was to engage their members and the public on the impact of Artificial Intelligence, Python and Robotics and to expose them to its advantages, legal principles as well as limitations.
He said that with such relevant knowledge, NIM members would be adequately prepared ahead of time on the proper deployment of AI instead of being fixated with fear that it is going to take over human roles.
The South East Zonal Chairman of NIM, Professor Jude Njoku, described the summit as an opportunity to examine the drawbacks to Nigeria’s economic growth and advice government on the right direction to follow.
Njoku, who is a former Vice-Chancellor, Federal University of Technology, Owerri, stated that domestication of artificial intelligence would not take over the role of human beings in every sector.
In his presentation, the keynote Speaker and Managing Director/CEO Cowrey Asset Management Limited, Lagos, Mr. Johnson Chukwu said that Artificial Intelligence is data driven hence the need for a harmonized central data system in the country.
He said that the central data system would help in Nigeria’s intelligence gathering capacity as well as the development of critical areas of comparative advantage for rapid growth and development.
Emmanuel Ugwu-Nwogo
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