"Nigeria has lost N1.5 trillion to unprofitable training, technology"

The Chief Executive Officer (CEO) of Mold Treasury Academy, Mr. Emmanuel Onyekwere has said that Nigeria has lost N1.5 trillion to unprofitable training and technology saying, they add no value to economic management in Nigeria.


Speaking at the commissioning of the Mold Treasury Academy, the first of its kind in Africa yesterday in Kaduna, the CEO explained that the modern facility is a product of 20 years of hard work and research.

He said the structure would further enhance budgeting in the country in view of the trainings that would be received from the academy.

Speaking earlier, he said governments at all levels had wasted resources in acquiring foreign technology not compatible with Nigeria.

He added, “Governments at all levels in Nigeria have spent enormous resources in the acquisition of foreign technology products not suited to our environment to implement public sector financial management reforms with little or no impact in the provision of comprehensive and timely budget implementation performance reports.

“In order to bridge this gap and save Nigeria these colossal losses, improve local content and ownership, Mold Treasury Academy was established with the latest technology tailored to the needs of the federal, states and local government areas in Nigeria."

He further pointed out that the academy is the first organization worldwide to develop and use Government Integrated Financial Management Information System (GIFMIS) to conduct training.

Meanwhile, in his own remarks, the governor of Kaduna state, Malam Nasir El-rufai said the suspended school feeding programme introduced in the early days of his administration will be resumed soon to provide nutritional meal a day per pupil.

Governor El-rufai who was represented by Commissioner for Finance, Suleiman Abdu Kwari commended the proprietor of the Academy for siting the business in Kaduna.

He pledged his administration's support for the business,  and added that he will evolve policies that will create and maintain enabling environment for enhanced private sector investment in the State.

He used the occasion to inform that neighbourhood markets are also being developed across the State under a public-private partnership.

In his own part at the occasion, Abia State governor, Dr. Victor Okezie Ikpeazu who was represented by his State Director of Budget, Mr. Okezie B.EzeIgbo lauded security situation in Kaduna State, saying that it has allowed businesses to thrive in the State in recent times.

Governor Ikpeazu, therefore, called on other parts of the country to emulate Kaduna State government in creating enabling environment for business investors.