The Federal Government has disrelish the tremendous security budgets of state governments across the country. While urging the new state government to make security a top priority, it also highlighted the fact that certain states devote a disproportionate amount of resources to this area. Boss Mustapha, the Secretary to the Government of the Federation, (SGF) expressed concerns about the practice in a keynote address given at the ongoing induction of returning and newly elected state governors.
According to Mustapha, an economically prosperous Nigeria is one that has found internal stability and external safety. He noted that numerous states are allocating a disproportionate part of their budgets to security in recent times, diverting funds that could be used for development. The SGF expressed his disappointment that there is less investable land in Nigeria, citing the country’s frequent violent conflicts as the cause. Therefore, it is crucial that we acknowledge the interconnected nature of security, economic growth, investment, and development.
Funds should rather be invested in fintech and youth development.
Mustapha said that this acknowledgment will serve to inform their priorities upon assuming power in the coming days. In addition, he urged the returning and newly elected state governors to abandon the so-called “youth empowerment programme” in favour of investing in youth and fintech development. He argued that instead of grants, youths should be given investment to become financially self-sufficient. Nigeria’s economy would be driven forward by its young and industrious people if they have access to quality education, job training, social security, affordable housing, and adequate healthcare.
This demographic advantage can be converted into an economic dividend, however more decisive measures are required to do so. To keep up with the times and anticipate the future, Mustapha recommends that the new state chief executives invest more funds into the fintech industry. FinTech, he said, will rapidly alter the future of e-commerce, trade, health, and banking, and that international companies like Google and others are prepared to commit their resources because of the potential advantages.
Incoming governors should urge their SSG to participate in federal forum.
Moreover, the SGF praised the Nigeria Governors’ Forum (NGF) for hosting the conference, labeling them as “a voice of reason in managing critical issues of governance between the states and the Federal Government.” The incoming governors, he said, should urge their respective Secretaries of State Government (SSG) to participate in the Forum for the Secretary to the Government of the Federation and Secretary to the Governments of the States, as it allows for productive dialogue between the federal government and the states on matters of mutual benefit.
Also, it’s an ideal setting to converse and get feedback on what other people are doing right when it comes to articulating and enacting policies, programmes, and agendas that improve the quality of life for local residents. He said that at their meetings, they have passed resolutions that have influenced the way governments handle policy coordination. However, as Mustapha pointed out, there has been significant emphasis on issues such as performance management and delivery and transition management.
Greater and more consistent effort is necessary in the nation.
Now that the elections have been concluded, the SGF noted that the actual work of satisfying Nigerians’ hopes and paving the way to genuine growth and development for all is due to start. He added that even while successive federal and state governments in Nigeria have worked hard, the country still has challenges in areas like poverty, healthcare, education, infrastructure, and the recovery of its economy. Greater and more consistent efforts are necessary given that no single government can solve the nation’s plethora of developmental issues.