Osinbajo tasks sovereign investment board on accountability
The Acting President, Yemi Osinbajo yesterday charged the Board of the Nigeria Sovereign Investment Authority (NSIA) to ensure transparency and accountability in the management of resources approved for it to carry out its operations.
Osinbajo gave the charge while inaugurating the Babajide Zietlin-led Board of the NSIA (Southwest).
The members of the Board, which is expected to operate for the next four years with specific focus on domestic infrastructure investment, represent each of the six geo-political zones in the country.
They are Halima Buba (Northeast), Bello Maccido (Northwest), Lois Laraba Machunga-Disu (North Central), Urum Kalu Eze (Southeast), Asue Ighodalo (South-South), Uche Orji, Stella Ojekwe-Onyejeli and HansPeter Achermann.
The Board, which is the second since its creation is also expected to actively support the provision of infrastructure in agriculture, power, toll roads, second Niger Bridge and health care delivery.
The National Economic Council (NEC), chaired by Osinbajo had in February this year approved the nomination of six Nigerians for appointment into the Board.
Osinbajo charged the members to improve the performance of the NSIA and strengthen its operations, stressing that the NEC, the governing council and all Nigerians would hold them accountable to its mandate.
“Periodically, you will be required to provide evidence of your stewardship to the governing council where your performance will be assessed.
“Indeed, despite the fiscally constrained environment, this administration has been able to increase the Federal Government’s commitment to the NSIA by 50 percent, committing an additional $500 million,” he added.
He pointed out that as the NSIA moves to the second phase of its existence, the expectation would be that the committed capital will be deployed into projects that are in line with the administration’s key priority areas like infrastructure and agriculture to improve our economy.
“The bar before you is high and all of us are counting on you to deliver,” he said, adding: “It is my fervent hope, therefore, that you will bring these worthy attributes to bear as you discharge your duties.”
Responding, Zietlin expressed appreciation for the opportunity to serve the country and assured that they would serve with integrity and transparency and look forward to being held accountable.
Managing Director of NSIA, Uche Orji said the authority would focus on agriculture commodities exchange, agriculture infrastructure, power, toll roads and the second Niger Bridge.
Minister of Finance, Mrs. Kemi Adeosun, whose ministry oversees the activities of the authority said: “We are very confident that this Board will look after our future resources and provide very good decisions and guidance to the executive management in line with the administration’s expectations and requirements.”