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    Home»Nigeria Economy»Building public trust through transparency and accountability: The accountant’s perspective
    Nigeria Economy

    Building public trust through transparency and accountability: The accountant’s perspective

    NigeriaNewzBy NigeriaNewzDecember 8, 2025No Comments4 Mins Read
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    Throughout a lot of the creating world, governance failures stay alarmingly persistent. Many countries battle below the load of systemic inefficiencies, financial mismanagement, and social unrest, all signs of unhealthy governance. In Nigeria, these challenges are significantly seen: decaying infrastructure, inconsistent public service supply, weak rule of legislation, insecurity, corruption, government high-handedness, and an absence of economic self-discipline proceed to undermine progress. On the core of those failures is a straightforward but essential reality: residents lose belief when these in authority fail to behave with transparency and accountability. With out these pillars, democracy turns into performative, and public confidence erodes.

    It’s in opposition to this backdrop that the ideas of fine governance should be urgently foregrounded. Good governance, as broadly recognised in worldwide improvement literature, refers to how public establishments conduct affairs and handle assets for the advantage of the citizenry. It encompasses the moral train of energy, the equitable allocation of assets, and the constant utility of accountability requirements. Conversely, unhealthy governance emerges when leaders ignore residents’ voices, evade accountability for selections, and permit private or political pursuits to override public welfare.

    The Nolan Committee of the UK, in its landmark 1995 report, recognized seven ideas that function a benchmark for moral public life: selflessness, integrity, objectivity, accountability, openness, honesty, and management by instance. Whereas formulated in a UK context, these ideas resonate globally. They supply a roadmap for any nation dedicated to restoring public belief and institutional credibility. Utilized successfully, they’re significantly related for Nigeria, the place public frustration with perceived impunity and mismanagement is palpable.

    From a sensible standpoint, implementing these ideas isn’t merely aspirational; it’s transformative. When leaders act with integrity and transparency, the advantages ripple throughout society. Rural electrification turns into possible, housing initiatives develop into sustainable, and electrical energy reaches each city and rural communities. Markets are stocked with meals, consuming water is reliably obtainable, roads are maintained, and residents can entry healthcare and schooling with out undue hardship. Governance methods that prioritise accountability be sure that public assets are managed effectively, corruption is minimised, and monetary sustainability is enhanced in any respect ranges. In essence, transparency and accountability are usually not summary beliefs; they’re the operational spine of nationwide improvement.

    But, realising this imaginative and prescient requires greater than lofty ideas. Nigeria’s management should institutionalise accountability mechanisms and promote a tradition of transparency. Annual audits, public disclosure of economic actions, participatory budgeting, and citizen oversight committees are sensible measures that embed accountability into governance. Leaders should additionally embrace value-for-money audits centered on the three Es, economic system, effectivity, and effectiveness, to make sure public funds ship tangible advantages. Failure to implement such mechanisms leaves room for corruption, mismanagement, and the erosion of belief that stifles nationwide progress.

    Moreover, good governance should be holistic, inclusive, and constant throughout all tiers of presidency, from the native council to the federal stage, and throughout the chief, legislature, and judiciary. Residents should understand that governance buildings serve everybody, not solely a privileged few. This notion is essential as a result of public belief, as soon as misplaced, is tough to regain. When residents see their leaders performing brazenly, taking accountability for errors, and prioritising collective welfare over private acquire, social cohesion strengthens, and democracy is bolstered.

    Good governance additionally requires foresight. Leaders should anticipate challenges, plan for long-term societal wants, and spend money on methods that stand up to political transitions. For instance, planning for rural improvement, healthcare enlargement, and infrastructural upkeep can’t be left to advert hoc initiatives; these require institutionalised dedication, clear coverage frameworks, and sustained funding. With out these, even well-intentioned programmes danger collapse as soon as political priorities shift.

    As Nigeria approaches the tip of 2025, the decision for accountability and transparency has by no means been extra pressing. Residents are now not passive observers; they demand lively, moral, and results-driven management. Implementing a governance mannequin rooted in transparency and accountability is important not just for restoring public belief but in addition for creating the circumstances for sustainable nationwide improvement. It’s a clarion name for leaders to behave decisively, ethically, and with foresight, turning ideas into observe and guarantees into measurable outcomes.

    In conclusion, good governance is each an ethical and strategic crucial. Nigeria has the human assets, institutional frameworks, and societal consciousness to embrace a governance tradition grounded in accountability and transparency. What stays is the political will to behave. Leaders should recognise that restoring public belief isn’t an non-compulsory train; it’s a prerequisite for stability, prosperity, and long-term improvement. Solely by embedding transparency and accountability into the very DNA of governance can Nigeria rework its democratic beliefs into tangible progress for all residents.

     

    Dr. Kingsley Ndubueze Ayozie FCTI, FCA, is a Public Affairs Analyst and Chartered Accountant primarily based in Lagos.



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