Professor Patrick Ibadin has warned that Nigeria’s economic future will remain vulnerable unless its leaders embrace transparency, accountability, and responsible fiscal management.
He said this on Wednesday while delivering the 6th Candido Da Rocha Annual Memorial Lecture at Osun State University (UNIOSUN), Osogbo.
Delivering the lecture titled “Transparency and Accountability in Governance: The Role of Leadership in Promoting Fiscal Responsibility in Nigeria’s Democratic Space,” Prof. Ibadin argued that sustainable national development thrives only where openness and fiscal discipline guide governance.
He said transparency strengthens resource management, enhances the benefits of democracy and stimulates economic activity.
According to him, “a lack of transparency undermines public trust and impedes economic growth and foreign investment,” citing studies showing the consequences of weak governance structures.
The lecturer mentioned two major barriers to Nigeria’s fiscal health: the “Trust Deficit Multiplier,” which he described as a cycle of public distrust triggered by limited transparency, and the “Resource Curse of Accountability,” where oil dependence weakens leaders’ accountability to citizens.
Although legal provisions such as the Fiscal Responsibility Act exist, Prof. Ibadin said they have had limited impact due to what he termed an “Accountability Enforcement Gap,” arising from institutional weaknesses and the failure to implement sanctions for corrupt behaviour.
He called for a multi-dimensional reform strategy, granting autonomy to oversight bodies, strengthening the use of technology like TSA and IPPIS to improve transparency, and expanding citizen participation through the FOI Act and whistleblower protections. He added that Nigeria must “cultivate ethical leadership that leads by example and promotes a culture of meritocracy and integrity.”
VC Extols Donor’s Legacy, Urges Support for Education
In his welcome address, the Vice-Chancellor of UNIOSUN, Professor ’Ayo Clement Adebooye, described the memorial lecture as an enduring platform for intellectual engagement and national development.
He paid tribute to the donor of the endowment, the late Mrs. Frederica Abimbola Omololu-Mulele, whom he hailed as “an exceptional educationist, lawyer, and philanthropist whose legacy continues to shape the future of this University.”
Prof. Adebooye recalled that Mrs. Omololu-Mulele donated an initial ₦38 million and an additional ₦20 million, a total of ₦58 million, to establish the Candido Da Rocha Trust Fund in memory of her grandfather, Chief Candido Da Rocha.
According to him, “That act of generosity did not merely create a financial endowment; it laid a cornerstone for academic excellence in this institution.” He noted that the endowment has strengthened research, the discipline of Accountancy, fellowships, and scholarship opportunities.
The VC invited attendees to observe a minute of silence in her honour, describing her impact as “fresh, powerful, and inspiring 16 years after her passing.”
He appealed to alumni, corporate organisations, and public-spirited Nigerians to support education. “Education needs you. Nigeria needs you. The future needs your investment,” he said, urging others to follow the Omololu-Mulele family’s example.
Prof. Adebooye also commended the Chairman of the occasion, Asiwaju Yinka Fasuyi, thanking him for his commitment to scholarship and nation-building. He applauded Prof. Ibadin for spearheading a discourse he described as “critical to Nigeria’s democratic survival.”
He stressed that transparency, accountability, and fiscal responsibility are foundational to democratic stability. “Leaders who uphold transparency inspire trust. Leaders who demonstrate accountability encourage civic participation,” he said.
The VC concluded by reminding the audience that “history does not change itself, people change history,” calling on leaders across sectors to uphold integrity and responsible governance.
Three UNIOSUN Students Receive Scholarship Awards
Three outstanding students received scholarships under the Candido Da Rocha Trust Fund:
Dorcas Oluwasemipe Adefemi (CGPA 5.0) — ₦200,000
Ridwan Ayomide Atere (CGPA 4.87) — ₦150,000
Glory Ayodeji (CGPA 4.83) — ₦100,000
