Enforcement of accountability, job creation and improvement of infrastructure have been identified as factors that could help fast track the Nigeria’s economic growth and development.
This was part of the conclusions of the 49th Annual Accountants’ Conference which ended recently in Abuja. Participants at the conference with the theme “Building Nigeria for Sustainable Growth and Development”, submitted that transparent leadership and governance will allow citizens to identify indicators of under-performance of political leadership in order to exert pressure on them for better performance.
To this end, the conference called on government to hasten the full implementation of the International Public Sector Accounting Standards (IPSAS) to enhance transparency in public financial management and reporting. It also implored governments at all levels in Nigeria to place high premium on accountability by fully embracing the ICAN Accountability Index (ICAN AI).
On job creation the conference urged government to address the issue of unemployment and poverty by creating start-up entrepreneurship programmes for the youth and supporting them with enabling environment and funding.
They called on government to improve the currently weak infrastructural base of the nation as this hampers sustainable growth and development. Specifically the conference called for enhancement of the power sector, transportation, processing and storage facilities, as well as public utilities.
To further enhance economic performance the conference asked government to make huge investments in the power sector especially power lines, substations and other facilities that would help improve power supply, which it identified as critical to overall economic growth and development.