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VP Osinbajo says bad governance responsible for economic under-development – By Reginald Okoro

Vice President Yemi Osinbajo, Friday identified lack of good governance and weak institutional capacity as some of the reasons resourceful countries like Nigeria, were not developing faster and improving the economic conditions of it’s citizenry.

The Vice President stated this during the 21st Edition of the Joint Planning Board (JPB) and National Council on Development Planning (NCDP) meeting at the Exco Chambers, Government House, Abakaliki.He said:

“The question I am sure some of us asked ourselves is that why countries with huge natural and human resources still develop slowly and have greater number of the poor, than other less endowed society or country without resources at all, like South Korea and Singapore. “Why do they still perform better than than the resourceful country of the world? I think most of the surveys conducted showed that there is lack of good governance and weak institutional capacity that largely account for the difference.

Vp Osibanjo, Gov Dave Umahi, Deputy Gov, Dr Eric Kelechi-Igwe and Hon Chinedu Ogah, representing Ikwo/Ezza South Federal Constituency

“How public institutions functions is of course an approach determined by institutional capacity, but this is not merely having a merely educated and well motivated workforce. But a system that can enforce transparency and accountability. You must have a system that can deliver on transparency and accountability.”So even when a country has the whole natural resources in every Local Government Area and even well educated workforce, a country can still fail and social services can still be poorly delivered.

An extreme poverty can prevail.”Osinbajo who congratulated National Council on Development Planning, NCDP, Federal Ministry of Finance, Budget and National Planning, Federal and State MDAs and all stakeholders and indeed the private sector and Civil society for articulating a National Development Plan for 2021-2025 noted that the objective of the plan includes “establishing a strong foundation for a diversified economy, investing in infrastructure, improving government and stamping out insecurity.

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“According to him, the objectives would contribute to achieving our National Development aspirations.In his words: “Let me take this opportunity to congratulate the Council, Federal Ministry of Finance, Budget and National Planning, Federal and State MDAs and all stakeholders and indeed the private sector and the Civil society for the sterling work that has been done in articulating a National Development Plan for 2021-2025. “The content of the plan is as important as the process through which it was developed.

And I find the extensive deliberations and contributions to fashion a medium term blueprint . “But the implementation of the plan is the crux of the matter and this speaks of the relevance to the theme of the meeting “Good Governance and Institutional Capacity: Pathways to Sustainable National Development.

“The Joint Planning Board, JPB/ National Council on Development Planning has remained a very important platform for setting the tone of National Development. It certainly provides opportunity for Federal and State Governments to fathom out active collaboration for the wellbeing of our people.

“The need for synergy among all tiers of government at this critical time , especially as we continue to face the challenges of the onslaught of COVID-19 pandemic, which is now compounded by the ongoing war between Russia and Ukraine.

This has already led to increase price and supply stock, especially in food sector.”We must brace ourselves to collectively respond to the inevitable economic challenge that will occur and some which are already occuring.”The Minister for Finance, Zainab Ahmed urged states to ensure that their medium term plans were in in-line with the country’s aspirations.Earlier, Governor David Umahi of Ebonyi State opposed the collection of Value Added Tax(VAT) by states describing it as invitation to anarchy.

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He noted that the National Assembly should be encouraged to look into the matter and work on including VAT in the Exclusive list.The Vice President who is on a one day working visit to the State, commissioned some projects executed by the present administration in the State.

The projects include the dualization of a section of Abakaliki/Afikpo highway, Sam Egwu Flyover Ezzamgbo, new government house chapel and Muhammadu Buhari Light Tunnel, Cualized Concrete Road of Ezzamgbo – Pulverisation Plant Junction, Abakaliki, Dualised Concrete Road from Mile 50 to Ishieke.

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