• Sunday, June 23, 2024
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Good governance versus national development

Overcoming a depressed economy via Expansionary Monetary Policy ( EMP model)

The colossal failures being witnessed across most nations, especially those in third-world regions and developing economies, are often attributable to the issue of lack of good governance, otherwise known as bad governance, and this is mostly being characterised by: absence of basic infrastructure, lack of basic amenities, the issue of executive highhandedness, lack of financial discipline, absence of rule of law, high level of corruption in the governance system, and absence of transparency and accountability on the part of those in authority and lack of support for sound democratic values, to mention but a few. A possible remedy for the myriad of problems being posed by bad governance is the principle of good governance.

In light of the aforegoing, there is a need for us to holistically x-ray what good governance entails in all its ramifications before bringing it onto the front burner as one of the good fruits expected to be harvested under an ideal democratic value system in particular and, by extension, under a democratically elected government in general.

Good governance could be seen to represent a term used in international development literature to describe how public institutions conduct public affairs and manage public resources for the overall good or interest of the citizenry. (wikipedia).

A corollary to the above is “bad governance,” which simply connotes a situation where a governing entity refuses to listen to the voices of those they are governing, and in addition, they are not willing to take responsibility for their actions and inactions, as may be the case.

Good governance, as popularised by several renowned management authors and political scientists across the globe, was properly dissected by the UK’s NOLAN Committee in her 1995 documentary report, which highlighted the seven distinctive principles of standard of behaviour expected of public officials within the United Kingdom and, by extension, other parts of the world that strongly believe in the principles of democracy and good governance as well. This report focused primarily on the standards of behaviour required of our politicians, civil servants, and other public sector bodies in the faraway United Kingdom. These unique principles of public life address issues relating to public sector bodies, corporations, and, by extension, not-for-profit organisations that will focus on the issues of selflessness on the part of our leaders, honesty concepts, upholding the principle of integrity, leadership by example, promoting the principle of accountability, being objective on the part of those in leadership positions, and above all, being very open at all times, especially while taking decisions on behalf of their subject or followers.

From my personal assessment across the board, no nation can develop meaningfully without a corresponding good governance structure being put in place by its leaders.

Undoubtedly, the demonstration of good governance by leaders at all levels – local government, state, and federal – will undoubtedly yield positive outcomes for national development. These outcomes encompass a range of initiatives, including rural electrification projects, universal housing provision, consistent access to electricity in both urban and rural areas, ample food availability in markets, access to clean drinking water, well-maintained roads, universal education access, free healthcare services, establishment of inclusive governance structures, fair and transparent electoral processes, robust security measures for citizens, promotion of financial stability across all levels, adherence to principles of accountability, effective resource management, enhancement of public trust in governance, reduction of wasteful expenditure, promotion of the rule of law and mutual respect, rigorous value-for-money audits focused on economy, efficiency, and effectiveness, curbing corruption, advocating for cost minimization, and fostering a culture of savings for future needs, among others.

As we all gear up to commemorate the one-year anniversary of our present administration in no distant time, all we are requesting and asking from our leaders and those in authority is good governance both at the local, state, and federal levels, and in addition from the executive arm, the legislature, and the judiciary arm.

Good governance and national development can always be viewed as two Siemens twins that are totally inseparable. It is a wake-up call to all and sundry to imbibe the virtues of good governance across the board and, at the same time, promote a greatly democratic value system wherever we find ourselves, which will further promote national development in the long run.

Written by Kingsley Ndubueze Ayozie FCTI , FCA- a Public Affairs Analyst cum Chartered Accountant by profession.