Lagos State Governor, Mr Babajide Sanwo-Olu has insisted that the active participation of the private sector is crucial in promoting good governance.
According to Sanwo-Olu, government alone cannot achieve sustainable progress, the private sector too plays a crucial role in advancing this objective.
Speaking at the opening ceremony of the 2024 Annual Conference of the Chartered Institute of Directors held at Eko Hotels and Suites, Victoria Island, Lagos during the week, the Lagos State governor said the private sector could achieve this by adhering to ethical business practices, investing in sustainable initiatives, and insisting on transparency in governmental dealings.
"We can create an environment that fosters transparency and economic stability. Together, we can bridge the gap between intention and action”, he said.
Sanwo-Olu charged Nigerians to promote the values that underpin good governance in order to ensure a future where the state's economic environment will empower and uplift its citizens.
He said strong governmental institutions, effective leadership, and an unwavering commitment to transparency will build a strong and thriving economy.
He described the conference theme, “Good Governance as a Catalyst for Economic Recovery, Growth, and Development,” as it captured the current challenges and illuminated a path toward a more resilient and prosperous future.
“As leaders, we recognise that good governance is more than a moral obligation—it is an economic imperative. It is the key to unlocking our nation’s potential, attracting vital investment, and creating opportunities for our citizens. We know that transparency, accountability, and trust are the cornerstones of any thriving economy. History has shown that where these principles are absent, nations struggle.
“We have seen the devastating consequences of poor governance, where corruption and inefficiency stifle growth and erode trust in institutions. But history has also shown us that with strong governmental institutions, effective leadership, and an unwavering commitment to transparency, we can build a strong and thriving economy,” he said.
Speaking on his administration's commitment to good governance, economic growth, and development, Governor Sanwo-Olu disclosed, “Here in Lagos State, we are deeply committed to embedding these values in every facet of our administration. We have launched reforms to strengthen institutions, promote transparency, and ensure accountability across sectors. Capacity-building initiatives equip our public servants with the skills needed to drive meaningful economic growth, and we are seeing the fruits of these efforts across the state".
In his own speech, the former Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, who delivered the conference lecture, called for a reform of the leadership recruitment process as he noted that the major challenge confronting Nigeria is that most of the leaders are not prepared for leadership.
He advised Nigerians to pay serious attention to nurturing and entrenching democratic governance to place Nigeria on a sustainable trajectory of ‘people-oriented development processes’ rather than mere good governance being promoted by the World Bank.
“We should not swallow hook, line, and sinker what they bring to us. We must be very careful in terms of what measures they have suggested to us because if we don’t do that, we may inadvertently fall into greater medium and long-term problems even if we think we are seeing short-term benefits from that kind of engagement,” he advised.
Also speaking, the President and Chairman of Council of the Chartered Institute of Directors, Alhaji Tijjani Borodo, said the Institute proudly leads the charge in promoting corporate governance across the country.
The Chairman of the occasion, Mr. Mutiu Sunmonu said character is the bedrock of good governance and good corporate practices.
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