The Chartered Institute of Directors of Nigeria has emphasized the critical importance of effective public sector governance as Nigeria faces the complex challenges of the 21st century.
In a recent statement during the 2024 Fellows’ Investiture held in Lagos, the President and Chairman of the Governing Council of CloD, Tijjani Borodo, asserted that a well-governed public sector is essential for sustainable economic growth, social development, and overall national prosperity, according to The Punch.
“As our nation navigates the complex challenges of the 21st century, the effectiveness of our public sector governance is paramount. A well-governed public sector is the cornerstone of sustainable economic growth, social development, and overall national prosperity,” he said.
Borodo noted that the introduction of a public sector governance code was long overdue, emphasizing the institute’s commitment to its development.
He explained that this code would guide and support global best practices within the country’s public sector.
He encouraged members to seize this moment as an opportunity to reaffirm their dedication to excellence, integrity, and good governance.
“Together, let us work tirelessly to advance the mission and vision of the CIoD Nigeria. Today’s ceremony is not only a celebration of individual achievement but also a testament to the collective pursuit of excellence in our profession,” Borodo stated.
He stressed the importance of members maintaining the highest standards of professionalism, integrity, and accountability.
“I I am confident that your contributions will be invaluable in driving positive change and ensuring the success of our public and private sector,” he enthused.
Earlier, the guest speaker, who is also the Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria, Dr Rabiu Olowo stated that the public sector is, by its very nature, the engine room of national development.
“It is where policies are formulated, decisions are made, and public resources are managed. For a country like Nigeria, which stands at the crossroads of development, the effectiveness of our public institutions is a critical factor in determining whether we shall rise to meet the aspirations of our people, remain stagnated or fall short of our collective potential,” he said.
According to Olowo, this highlights the importance of the public sector governance code, which emphasizes the need for ethical and effective leadership by the governing body.
This approach aims to foster an ethical culture, enhance performance, ensure effective control, and establish legitimacy.
