A university don, Professor Peter Okoeguale Ibadin, has emphasized the urgent need for greater transparency and accountability in Nigeria’s governance to promote good governance and curb corruption.
Prof. Ibadin made the remarks while delivering the 6th Candido Da Rocha Annual Memorial Lecture at Osun State University (UNIOSUN), Osogbo. A renowned accounting scholar from the University of Benin, he warned that Nigeria’s economic future will remain vulnerable unless its leaders adopt transparency, accountability, and responsible fiscal management.
Speaking on the lecture titled “Transparency and Accountability in Governance: The Role of Leadership in Promoting Fiscal Responsibility in Nigeria’s Democratic Space,” Prof. Ibadin argued that sustainable national development thrives only where openness and fiscal discipline guide governance. He stated that transparency strengthens resource management, enhances the benefits of democracy, and stimulates economic activity.
According to him, “A lack of transparency undermines public trust and impedes economic growth and foreign investment,” citing studies that highlight the consequences of weak governance structures.
He identified two major barriers to Nigeria’s fiscal health: the “Trust Deficit Multiplier,” a cycle of public distrust triggered by limited transparency, and the “Resource Curse of Accountability,” in which oil dependence weakens leaders’ accountability to citizens.
Although legal provisions like the Fiscal Responsibility Act exist, Prof. Ibadin noted their limited impact due to what he called an “Accountability Enforcement Gap,” arising from institutional weaknesses and the failure to implement sanctions against corrupt behaviour.
In his welcome address, the Vice-Chancellor of UNIOSUN, Professor Clement Adebooye, described the memorial lecture as an enduring platform for intellectual engagement and national development.
He also paid tribute to the donor of the endowment, the late Mrs. Frederica Abimbola Omololu-Mulele, hailing her as “an exceptional educationist, lawyer, and philanthropist whose legacy continues to shape the future of this University.”
