A professor of Accountancy has asserted that all states in Nigeria possess the potential to thrive without relying on monthly allocations from the federal government. Professor Lawyer Obarah made these remarks during the 106th inaugural lecture at Rivers State University.
To achieve financial independence, Professor Obarah emphasized the need for states to adopt robust accounting and reporting systems. He also called for the integration of traditional values into the management of government institutions, suggesting that this could enhance governance.
However, he cautioned that constitutional rigidity poses a significant obstacle to the adoption of innovative approaches in state financial management.
In a goodwill message, Professor Victor Akujuru, Vice-Chancellor for Administration at Rivers State University, echoed these sentiments, stating that the implementation of the proposed strategies would significantly improve financial efficiency and accuracy.
The theme of the 106th inaugural lecture was “Pragmatic and Visionary Accounting: Reinforcing the Helmet,” highlighting the importance of forward-thinking financial practices in governance. Our correspondent, Emelda Ifeme, reports on the significant discussion generated during the event.