‘How to strengthen institutions capacity in Nigeria for economic growth’ 

Nigeria has been rated as the largest economy in Africa, yet it lacks institution capacity to promote accelerated growth and economic development.

Apparently worried by the nation’s underdevelopment, the former Director-General of the Nigeria Tourism Development Corporation (NTDC), Mrs Omotayo Omotosho, has identified issues to be addressed in order to change this narrative and position Nigeria for accelerated economic growth and development.

Speaking at the 16th Kukoyi Memorial Lecture organised by the Nigerian Institution of Surveying (NIS), Lagos Chapter, Omotosho , a guest lecturer, urged the need to  manage Nigerian border, fix issues of lack of population data, reduction of tariffs on some imported products, empowerment of the local governments, creation of enabling environment for business and investors and investment in infrastructure among others.

According to her, there was need to fix Nigerian porous border, which is susceptible to influx of foreign immigrants with security implications.  For this reason, she called for the empowerment of the National Boundary Commission and the National Identity Management Commission.

Besides, she said inadequate population data was another issue, suggesting the need to strengthen the system within the National Population Commission and Bureau of Statistics for effective capturing of births and deaths in order to keep a reliable data of Nigeria citizens, which, according to her, was necessary for effective National planning and projection.

In her lecture themed “Institutional Capacity for Accelerated Growth and Economic Development: Nigeria as a Case Study, she canvassed the  reduction of tariffs on imported vehicles to reduce the cost of transportations and its attendant consequence on skyrocketing cost of food, goods and services.

Thankfully, she noted that the Federal Government was already taking steps in the right direction through the Ministry of Finance by strengthening the Ministry of Humanitarian, Disaster Management and Social Development to effectively capture the unreached, vulnerable and marginalised.

She mentioned that the Federal government was already put in place stimulus packages for small businesses and the unemployed through the states and local governments and providing enabling environments for cottage businesses and entrepreneurship.

In order to speedily  strengthen Nigeria’s Institution capacity to promote economic growth, Omotosho stated that  government at all levels  must invest in infrastructure, monitor the National Orientation Agency and the media on mass sensitisation on core values for value re-orientation, on COVID-19 Pandemic Prevention Protocols and demand for good governance.

She defined institutional capacity as the capability of an Institution to set and achieve social and economic goals through knowledge, skills, systems and institution, adding that basic components of institutional capacity included a demand for institutional performance and deliverables, organisational capacity, administrative capacity and transparency and accountability in governance etc.

President of NIS, Mr Charles Alabo, extolled the virtues of Pa Adekunle Kukoyi and also lauded Lagos branch of the institution for being consistent in organising the annual lecture.

Chairman of Lagos ‘NIS, Mr  Adeleke Adesina, stated that  late Adekunle  Kukoyi remained a beacon for survey profession and the larger society woulld continue to be celebrated by every organisation, profession and community he touched while here on earth.

 

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