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Economic Hardship: Accountants, Best To Lead A Country Out of Recession And At Other Times – Ms. Patricia Adenike Balogun
A United Kingdom-based Nigerian accountant and investment expert, Ms Patricia Adenike Balogun, has urged Nigerians to have faith and confidence in the capacity of President Bola Ahmed Tinubu to turn around the economic fortune of Nigeria.
According to her, the president is well endowed with all accounting and management tools, including the right leadership qualities to transform the Nigerian economy to a prosperous one.
Speaking from London in a Zoom interview with Nigerian journalists in Abuja, Ms. Balogun said, accountants are the best set of professionals that can lead a country out of recession and during the time of prosperity because they are visionaries, innovative and risk takers.
Ms. Patricia Balogun, an Accountant herself, also expressed confidence that the President could leverage on his background in the profession to task his professional colleagues on planning policies capable of reviving several sectors of the Nigerian economy made comatose by the harsh situation bedevilling the country.
She, additionally, asked that the government should reduce the tax burden on small businesses in order to help them navigate and survive the current economic challenges.
Ms. Balogun regarded as an advantage the background of the President as a former Accountant with Mobil Oil Producing and other establishments.
She said: “Accountants like President Tinubu are best to lead a country out of a recession. They are visionary, innovative and risk-takers. Although traditionally viewed as professionals who focus on numbers and data, their role is more dynamic. President Tinubu has been trained with the capacity to drive growth and embrace innovation. Their analytical skills as Accountants give them the capacity for data-based decision-making.”
She credited the accounting profession with facilitating the development of trail-blazing IT software currently driving innovations such as the Treasury Single Account (TSA) embraced by the Nigerian government, as well as FinTech and e-commerce platforms.
On the TSA, she said: “The accountants within the public sector put ideas together, and came up with that Treasury Single Account system to help ensure better transparency and accountability in the area of the management of funds within the country, as well as to curb corruption.”
According to her, the nation should not underrate the advantages that accountants and the accounting profession can bring to bear on the nation’s search for socio-economic solutions.
Balogun said: “Accountants have the capacity to drive growth and we are innovative. The analytical skills of accountants that make them excel in analysing data are very crucial in a time of economic uncertainty because we use the data we analyse to back the decisions we make. We have the risk assessment method of finding financial risks, along with different scenarios, to produce healthy outcomes. We have very good capacity in strategic planning.
“We know how to use multiple scenarios and models to differentiate which features will facilitate planning for risk-mitigation. We are very good at problem solving. When you have financial challenges, if you bring an Accountant, they are able to use their skills to basically adapt and find changing landscapes in implementing different corrective measures in terms of the time of economic action.
“In terms of being leaders, we create, we use data, we analyse data, and we are able to use them to bring financial health back to a business, to an organisation or to the country at large.”
Balogun recalled that accountants had been drivers behind the adoption of the Financial Reporting Standard (FRS) that has enhanced transparency and accountability within companies and within the country generally.
“During the privatisation policies of the 1990s and early 2000s, the accountants put together measures to help in ensuring that business outcomes were achieved,” Balogun said.
News
PSIN Administrator Commends Yobe Government for Championing Leadership Continuity and Institutional Sustainability
Cyril Igele
The Administrator and Chief Executive Officer of the Public Service Institute of Nigeria (PSIN), Barrister Imeh Okon, has applauded the Yobe State Government for its strong commitment to leadership continuity and sustainable governance through strategic investment in human capital development.
Barrister Okon gave the commendation at the opening of a Management Retreat for Yobe State Permanent Secretaries, held at the PSIN headquarters in Abuja.
The retreat, themed “Succession Planning, Leadership Continuity, and Institutional Sustainability in the Yobe State Public Service,” convened senior bureaucrats and resource persons to discuss strategies for strengthening leadership and governance within the state’s civil service.
In her remarks, the PSIN Administrator praised Governor Mai Mala Buni for his foresight and partnership in prioritizing public sector training and capacity development. She described the theme of the retreat as both “timely and visionary,” emphasizing that institutions endure only when leadership is continuous, knowledge is shared, and systems—not individuals—drive performance.
“Institutions thrive not merely on structures or policies, but on the deliberate cultivation of capable leaders who can sustain progress across generations,” she said. “By prioritizing leadership continuity and institutional resilience, Yobe State is leading by example.”
Barrister Okon reiterated PSIN’s mandate to build a competent, ethical, and innovative public service capable of delivering tangible results to citizens. She stressed that effective succession planning must be anchored in continuous training, mentorship, and exposure to emerging governance trends.
Citing best practices from Singapore and the United Kingdom, Okon noted that successful public service systems deliberately identify and nurture potential leaders through structured talent pipelines and transparent career development programmes. According to her, Yobe State’s initiative reflects its readiness to sustain excellence in governance.
She also highlighted PSIN’s flagship programmes—SMART-P, which builds administrative and technical capacity; LEAD-P, designed to groom emerging leaders; and the Exit from Service Masterclass, which prepares officers for life after service. Okon urged the Yobe Government to adopt the Exit Masterclass into its human resource framework to ensure a smooth transition for retirees, preserve institutional knowledge, and promote productivity through entrepreneurship and consultancy.
“Succession planning is not an event but a culture that must be institutionalised at every level of public administration,” she added. “When we prepare successors in advance and invest in continuous learning, we guarantee the sustainability of reforms and consistency in governance.”
Declaring the retreat open, the Acting Head of Service of Yobe State, Alhaji Abdullahi Shehu, reaffirmed Governor Buni’s commitment to building a results-driven and high-performing public service.
Represented by the Permanent Secretary, Public Service, Alhaji Shehu, the Acting Head of Service expressed gratitude to God and lauded PSIN as the “mother institution of public service learning.” He stated that Governor Buni has consistently directed the Office of the Head of Service to promote seamless succession planning and capacity building to enhance efficiency and accountability across government institutions.
“In line with this directive, we have brought the top echelon of the state civil service to PSIN—being the drivers and core implementers of government policies and programmes—to strengthen continuity and sustainability in our reforms,” he said.
He urged participants to fully engage in the retreat, share experiences, and cascade the knowledge gained to officers across ministries, departments, and agencies. The exercise, he explained, forms part of a deliberate strategy to institutionalize effective succession planning within the Yobe State Civil Service, thereby ensuring sustained productivity and improved service delivery to citizens.
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