A former Managing Director of Citizens International Bank and Assurance Bank of Nigeria, Chikatara Mbonu, has blamed Nigeria’s recurring economic and governance instability on duplicated policies, inconsistent reforms and the absence of a coherent long-term national development plan.
Mbonu, who spoke at Engr Ette Etteh annual lecture series and book launch organised in collaboration with the Nigerian Institution of Civil Engineers (NICE), in Ibadan, said the country’s failure to sustain policies across administrations has continued to undermine growth and institutional stability, noting that frequent shifts in priorities weaken planning and execution.
Speaking on the topic, “Blueprint of Progress: What Nigeria Can Learn from Global Systems and Leadership”, he said Nigeria’s development challenges are largely self-inflicted.
The financial services expert argued that countries which have recorded sustained development did so by committing to long-term goals, disciplined leadership and strong institutions rather than relying on personalities.
According to him, Nigeria often abandons existing frameworks whenever a new government assumes office, replacing them with fresh agendas, slogans and programmes that ultimately reproduce the same problems.
Mbonu further identified a culture of “man-know-man” and the perception of public resources as a “national cake” as major obstacles to accountability and development, describing Nigeria as a country rich in natural resources but weakened by poor national values, weak institutions and contradictory policies.
To reverse the trend, he urged Nigeria to embed ethics, discipline and civic responsibility into the education system from primary to tertiary levels, drawing lessons from countries such as Singapore and Rwanda.
He also stressed the need for transparent judicial processes, noting that development remains difficult in an environment where criminals walk free and court decisions are subject to interference.
Mbonu said Nigeria must prioritise a national rail network linking all geopolitical zones, ensure reliable power supply to industrial corridors and expand gas-to-power projects. He added that rapid urbanisation demands future-focused city planning that takes population growth, mass transit, flood control, climate-resilient zoning and digital infrastructure into account.
Earlier, Chairman of the occasion, Engr. Yusuf Sagaya, described noted that declining professional standards in the consulting industry have contributed to Nigeria’s infrastructure challenges.
In his response, Rev. Engr. Ette Etteh commended the organisers, the University of Ibadan community and well-wishers for the honour.
