Soludo, IoD advocate mainstreaming public sector principles in governance

Stakeholders have emphasized the need to mainstream private-sector principles of governance in the public sector.

The need, they said, was pertinent, as Nigeria is going through a transition process towards sustainable development. 

Anambra State Governor, Prof. Charles Soludo, said this at this year’s director conference business dinner by the Institute of Directors (IoD) Nigeria.

Speaking on ‘Corporate Governance and Digital Transformation: Leading Purposefully for Growth and Sustainability, Soludo said in the face of a disruptive agenda, the need for purposeful leadership and productive partnership between government and private sector was paramount as Nigeria resets and transitions to a post-oil economy. 

“If we are serious about moving forward with this disruptive agenda, we must stop clapping with one hand. Part of the leadership must be driven by the private sector as the public sector must learn from private sector principles and run the government as a business with emphasis on execution, financing and evaluation.

“Nigeria is a land of opportunities and has everything to become a part of the top ten economies in the world in the next decade but everyone has to volunteer to serve pro-bono and run the government as a business,” he said.

President, IoD Nigeria, Dr. Ije Jidenma, said the event provided the opportunity for the business environment to interact with government and foster close and beneficial relationship between the public and private sector.

She stressed the need for cross fertilisation of ideas between both sectors to build a new Nigeria.

“No private organisation would thrive without collaboration with government and the IoD is committed to forging relationships that would drive public private partnership so that businesses can thrive,” she said.