OPENING ADDRESS BY PRESIDENT BOLA AHMED TINUBU, GCFR, AT THE 54TH ANNUAL ACCOUNTANTS CONFERENCE: "GOVERNANCE REIMAGINED: MAPPING THE FUTURE", TUESDAY, OCTOBER 8, 2024
(DELIVERED BY ABUBAKAR ATIKU BAGUDU, MINISTER OF BUDGET AND ECONOMIC PLANNING)
PROTOCOL
Ladies and Gentlemen,
1. It is with profound honour that I stand before you today as the President of the Federal Republic of Nigeria and a fellow advocate for transformative governance. I welcome all the distinguished guests, esteemed speakers, and dedicated participants in this pivotal annual accountants’ conference.
Today, we unite under the visionary theme: Governance Reimagined: Mapping the Future.” This theme captures our aspirations and marks a significant milestone in our journey towards refining governance and fortifying accountability across our great nation.
2. As we convene in this esteemed assembly, I would like to pose a question: How can we, as stewards of governance and accountability, harness our collective expertise to foster a more
transparent, efficient, and equitable society?
Your role as accountants in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable. Your expertise does not merely shape our economic landscape—it fortifies the foundation of trust upon which our societal progress is built.
3. We convene at a time when the governance landscape is dramatically evolving, presenting challenges and opportunities that demand innovative solutions and proactive strategies. The advent of emerging technologies opens new avenues for enhancing accountability and transparency. We must foster robust collaboration and networking among policymakers, regulators, and professionals to harness these opportunities effectively.
4. Your profession provides you with the skill set to appreciate a company or Government strategy. Some of you are at the heart of or have been involved with turnaround for companies and choices necessary for survival in a competitive environment. The Renewed Hope agenda is our strategy for Nigeria to confront her reality: we are not where we want to be, we are not growing fast enough, and decades of underinvestment have limited the economy from delivering on its potential.
5. The Necessary Choices, pleasant and otherwise, we made in the last 17 months were designed to stop the decline and put us on a path to higher, sustainable, and inclusive growth. It is encouraging that GDP growth for the first and second quarters of 2024 was positive while inflation turned downwards. The foreign exchange market is stabilising, and we see encouraging investment signals.
6. We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services, mortgage system reform to provide wider opportunities for home ownership, CNG penetration to offer cheaper and alternative energy sources, and agriculture development fund to de-risk agricultural investments further.
7. Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of Government are receiving higher allocations, which enable more support to vulnerable populations. Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.
8. Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability. We are committed to leveraging cutting-edge
technologies to boost transparency and efficiency and cultivate strategic partnerships that pave the way for sustainable development.
9. As we delve into the complexities of governance, I call upon each of you to participate actively in the dialogues unfolding over the next few days. Share your unique insights and forge new connections. Together, let us develop actionable plans to lead Nigeria towards a future where governance is synonymous with integrity, transparency, and accountability.
10. With great enthusiasm and driven by our shared commitment to excellence in governance, I officially declare the 54th Annual Accountants Conference open.
Let us embark on a path of meaningful discussions and enriching knowledge exchange.
Thank you for your attention, your dedication, and commitment to the noble cause of reshaping our nation’s destiny. Let us reimagine governance and map a future that generations will look upon with pride.
President Bola Ahmed Tinubu, GCFR