Shape Up or Ship Out, Minister Tells Heads of Parastatals
- By Simeon Ogoegbulem
- Published April 12th, 2010
- News
- Unrated
Remi Babalola, minister of state for finance, has read the riot act to heads of parastatals under his direct supervision to “shape up or be ready to ship out.” Babalola has therefore directed all the heads of parastatals being supervised by him to immediately submit a detailed six-month work programme of their agencies aimed at achieving their mandates and economic transformation for the country.
He also directed them to submit a monthly report showing the milestones attained and challenges during the period. The parastatals affected by this directive include: the Nigeria Deposit Insurance Corporation, National Insurance Commission, Securities and Exchange Commission, Nigerian Export Import Bank and the Investments and Securities Tribunal.
Babalola gave this directive in Abuja at a meeting with the heads of the five parastatals and officials of the federal ministry of finance to review the operations and performance of the agencies. The minister urged the parastatals’ chief executive officers to re-define their mandate, objectives and goals in order to meet the huge expectations of Nigerians. “The purpose of this meeting is to re-ignite the mandate of the Acting President on the expectations of ministries, departments and agencies of the government. It is not going to be business as usual,” he said. “There is so much expectation from Nigerians within the short time of this Administration. The expectations are huge and everything must be done towards surpassing them. The minister stated that the parastatals’ performance would be measured on a monthly basis and the heads parastatals would be held accountable for accomplishment. According to him, “non-performance and abuse of office would not be tolerated.”
He further directed that parastatals should identify what they intend to achieve within the next three months and also submit immediately to his office a work programme for the next six months. According to him, government require a complete transformation of parastatals in order to accomplish tangible results that would be seen and felt by the people.
He also directed them to submit a monthly report showing the milestones attained and challenges during the period. The parastatals affected by this directive include: the Nigeria Deposit Insurance Corporation, National Insurance Commission, Securities and Exchange Commission, Nigerian Export Import Bank and the Investments and Securities Tribunal.
Babalola gave this directive in Abuja at a meeting with the heads of the five parastatals and officials of the federal ministry of finance to review the operations and performance of the agencies. The minister urged the parastatals’ chief executive officers to re-define their mandate, objectives and goals in order to meet the huge expectations of Nigerians. “The purpose of this meeting is to re-ignite the mandate of the Acting President on the expectations of ministries, departments and agencies of the government. It is not going to be business as usual,” he said. “There is so much expectation from Nigerians within the short time of this Administration. The expectations are huge and everything must be done towards surpassing them. The minister stated that the parastatals’ performance would be measured on a monthly basis and the heads parastatals would be held accountable for accomplishment. According to him, “non-performance and abuse of office would not be tolerated.”
He further directed that parastatals should identify what they intend to achieve within the next three months and also submit immediately to his office a work programme for the next six months. According to him, government require a complete transformation of parastatals in order to accomplish tangible results that would be seen and felt by the people.
