Senior Special Adviser to the President on Industrialisation African Development Bank, Prof. Banji Oyelaran-Oyeyinka has called for urgent implementation of Steve Oronsaye’s report.
‘‘The Oronsaye report also identified 50 agencies without any enabling laws and 55 others not under the supervision of any ministry! This phenomenon results in high personnel costs as “many of them receive more budgetary allocations for personnel than they require because that component of their budget is usually inflated”. Several of them are also “obvious duplications of existing bodies” which then underscores the fact of “overlaps and enormous wastage of scarce resources”.
Oyelaran-Oyeyinka enumerated the seven critical challenges of governance, saying the quality of public services, the quality of the civil service and the degree of its independence from political pressures, the quality of policy formulation and implementation; the credibility of the government’s commitment to industrial policies.
‘‘Intensify Economic Diversification in deeds not words. The lessons of the last 50 years of Africa’s post-independence shows clearly that Nigeria continues to lag far behind in the technological capacity to diversify its economy. The economy is poorly diversified in its technological production base and export basket. The country routinely experiences disproportionately large volatility and huge swings in fundamental economic variables,’’ he said.All rights reserved.
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