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‘Recession may be a blessing in disguise’

By Editor   |   11 October 2016   |   2:50 am
Former Governor of Ogun State, Otunba Gbenga Daniel and Institute of Chartered Accounts of Nigeria (ICAN) President, Deacon Titus Soetan during a courtesy visit to the latter in Lagos.

Former Governor of Ogun State, Otunba Gbenga Daniel and Institute of Chartered Accounts of Nigeria (ICAN) President, Deacon Titus Soetan during a courtesy visit to the latter in Lagos.

Former Governor of Ogun State and Chairman, Kresta Laurel Limited, Otunba Gbenga Daniel has stated that the current economic situation in the country might be a blessing in disguise and an opportunity for Nigerians to look inwards by developing our local contents and effecting outright adjustment in our ways of life.

Receiving a delegation of the Institute of Chartered Accounts of Nigeria (ICAN) on a courtesy visit led by its President, Deacon Titus Soetan at his office in Lagos, Daniel reiterated the fact that government should place more emphasis on local manufacturing and production most especially in the agricultural sector.

“It is criminal to the economy if we spend so much foreign exchange on importation of food into the country to the detriment of our staple food that have more nutritional value. It is high time we banned food importation and curtailed smuggling of such into the Nigerian markets. The total mind-set of our people must change not only in food consumption but in every sphere of our lives”, he stressed.


He also charged ICAN to network regularly with its members in government and brainstorm on the way forward towards reviving the economy. Professionals, he said must be given pride of place in policy formulation and it therefore becomes important that in moving the nation forward, the best of the brains must be employed. “Here, the ICAN has a pivotal role to play by creating a forum to brainstorm and come forth with fool-proof agenda and solid recommendations on finding a lasting solution to our economic challenges”. Continuing, he said: “it becomes embarrassing and pathetic that our ecomic managers at the highest echelon speak in discordant tunes about the state of the nation’s economy. It is avoidable and should be avoided”, he quipped.

Earlier in his address, ICAN President, Deacon Titus Soetan, described the former governor as an accomplished engineer, a mentor and benefactor who has always supported the accounting body. He also assured of ICAN’s readiness to intervene and support the government of the day in matters relating to economic policies.

He reminisced its 46th yearly Accountants’ Conference holding in Abuja to the former governor with the theme: “Accountability Now Nigeria” where financial experts will discuss salient economic issues as part of the efforts of the Institute to ensure accountability and good governance in the country.




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