Fidelity bank banner Bayelsa State banner
Omoigui-Okauru, Akpata, Ihonvbere, others tackle institutional barriers to investments at Alaghodaro summit

By News Express on 11/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 549


As the Alaghodaro Investment Summit got underway on Friday in Benin City, the Edo State capital, investment experts and heads of Federal Government regulatory agencies proffered solutions to the bureaucratic bottlenecks in government that are hindering the growth of businesses in Nigeria.

At a plenary session on institutional reforms titled "Doing Things Differently," Prof. Oladapo Afolabi, former Head of Service of the Federation, stressed that for any reform to yield the desired result, the buy-in of the political class and the common people must be secured and sustained over time.

“To sustain this reform, there must be the buy-in of the political class and members of the public. This will ensure that the reform is placed in the heart of the people,” Prof. Afolabi said.

He urged the state government to be responsive to new demands and be ready to carry the civil service along in its reform programmes to ensure their success.

According to Prof. Afolabi, “The state government must continuously adapt to the forces of change in ensuring institutional reforms to drive its vision of achieving economic growth.

“The reforms should focus on areas that will mostly impact on the well-being of the people, as sustainable institutional reform is people-driven. The state government must have an implementation plan as previous reforms embarked by governments in Nigeria failed because they were not structured, and had no implementation plan.”

In her remark, former Executive Chairman of Federal Inland Revenue Service (FIRS) and Partner, Compliance Professionals Limited, Ifueko Omoigui-Okauru, who moderated the session, declared that with the investment summit, Edo State is ready for business and called for a synergy among stakeholders to achieve the desired goal.

In her submission, the Executive Secretary of Nigeria Investment Promotion Commission, Yewande Sadiku said that the inclusion of investment promotion in the reform programme would help the state in her investment drive.

“Investment promotion should be proactive and focus on telling the investors how conducive the environment is and how attractive the returns are, amongst other incentives."

She advised that a state investment promotion agency should be created to drive the promotion of investments, adding: “The agency should be the eye of investors inside government because they understand the needs of investors. The agency must also buy-in into the need to drive investment and be given full access to government information.”

Prof. Julius Ihonvbere, the Chairman, Organising Committee on Alaghodaro Investment Summit and Chairman, Strategic Planning Team, Edo State Government, explained that the Obaseki-led administration had done a lot in institutional reforms.

“We have put our house in order, which is critical to driving investment as the state is among the few states with a strategic document stating how the government intends to drive policy implementation,” he added.

We also have in place a monitoring committee on the ease of doing business to monitor activities of ministries and agencies of government to ensure they all comply to the standard.”

"We are not just interested in attracting investors but also focusing on driving the small and medium enterprises as we are collaborating with the Bank of Industry (BOI) in this regard.”

Uyi Akpata of PriceWaterhouseCoopers, commended Governor Godwin Obaseki for his investment drive and commitment to reforming institutions that are critical to economic growth.

“The civil service must be repositioned to key into the institutional reforms ongoing in the state and there should be incentive for civil servants to support the reform,” he advised.

The Managing Director, Rural Electrification Agency (REA) Damilola Ogunbiyi called for the support of the ongoing decentralisation of power supply in the country through its off-grid and stand-alone systems.

“Stable power supply is part of institutional reforms we need to support economic growth and progress,” she said.

She assured that Edo State has a lot to gain from the new power supply initiative as talks were ongoing to supply electricity to some markets in the state and government offices.

•Photo shows former Edo State Governor, Adams Oshiomhole (left); Governor of Edo State, Mr. Godwin Obaseki and President, Dangote Group, Aliko Dangote at the Alaghodaro Investment Summit, in Benin City, Edo State, Friday, November 10, 2017

Source News Express

Posted 11/11/2017 01:29:06 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Magu’s many sins — DSS •Details of the...

El-Rufai dissolves Kaduna State Vehicle Inspection Office (VIO)...

Unveiled: Names of abducted Chibok schoolgirls so far...

9 Fulani herdsmen, 25 cows, 51 sheep arrested...

BREAKING NEWS: 3 killed as Okorocha damns natives,...

Supreme Court Verdict: The blood of those killed...

Chibok girls in tearful reunion with families

PDP apologises to Obasanjo over bad conduct

193 Nigerians die of cancer every 24 hours...

Nigeria, others elected into UN Human Rights Council...

Dogara cautions against hate speech, fake news •Alerts...

UNPFA pledges more humanitarian assistance to IDPs in...

 

Latest News Angry APC youths attack Governor Obaseki’s convoy Buhari shuns protocol, treks 800 metres •He is fit and ready for 2019 — Presidency Apprehension as firm serves Adeleke University quit notice, threatens to demolish structures Police captures madman accused of killing Ekiti monarch Kidnapping: NMA threatens to withdraw medical services in Cross River HURIWA cautions Army on Operation Python Dance 3, asks Buhari to rejig Security Council More males than females register to vote SERAP to Ajimobi: Repair Ayefele’s Fresh FM building or face legal action US deports Nazi camp guard to Germany 170 prison inmates regain freedom in Kano Eid-el-Kabir: Follow Allah’s precepts, Turaki urges Nigerians Gov. Sani-bello stresses the need for peaceful coexistence •Urges youth to engage in useful ventures

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (379,669 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,731 views) Shameless Genevieve Nnaji exposes breasts in public (297,577 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,735 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,861 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,711 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,440 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,574 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (160,118 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (159,088 views) Lagos plane crash: Journalist releases victims’ names (153,352 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,572 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,472) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (530) Features (642) Global Business Monitor (298) International (2,286) Interview (162) Live Commentary (28) Love Matters (137) News (38,200) Opinion (1,064) Pidgin (11) Politics (6,121) Religion (837) Sports (1,655) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Yinka Ayefele's Music House Demolished

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement