Peterside Advocates for Institutional Reforms in Nigeria

Dakuku Peterside, a leadership and public policy expert, delivered the keynote address at the 65th Annual National Management Conference of the Nigerian Institute of Management in Lagos. He attributed Nigeria's inability to convert its natural and human resources into prosperity to weak institutions, poor management, and inconsistent policy implementation.

Peterside argued that the primary setback for Nigeria's development is not a lack of resources but the quality of institutions managing those assets. He called on the Federal Government to transition from resource wealth to institutional wealth, advocating for the redirection of oil revenues towards sectors such as education, infrastructure, technology, and agriculture.

He compared Nigeria's growth models with those of Botswana and South Korea, highlighting that institutional stability and prudent management are crucial for economic success. Peterside warned against over-reliance on crude oil, which can lead to fiscal instability and market distortions.

He urged for meritocracy and accountability in public sector management. Oba Olufolarin Ogunsanwo and Commodore Abimbola Ayuba also spoke on the need for intentional institution-building and systemic change.