By Franklin Alli

N IGERIAN Association of Chambers of Commerce, Industry, Mines and griculture (NA), has called foran urgent of governance structure and processes.

“This appraisal should be done urgently for the sustainability of our democracy and the credibility of the political leadership ,” said National President, Dr. Ademola Ajayi.

In a review of the effects of the nationwide strike onfuel subsidy removal on the economy, Ajayi said the protests have thrown up opportunities for a critical review of our governance structure and processes. “is of the view that these and other issues should form the basis for the next level of engagement of the political leadership in our quest for good governance in the country.

“These issues include (but not limited to) the following:   issues in the management of the subsidy funds, especially the astronomical increase from 300 billion in 2010 to N1.3 trillion in 2011.   and increasing cost of governance at all levels of governments – federal, state and local governments.

“Corruption in the management of government business at all levels of government;  closer scrutiny of the 2012 budget numbers and the need to justify these numbers to the Nigerian public,  of the delivery of governance value by the states and local governments to the citizens of their respective jurisdictions;  presentation and passage of the Petroleum Industry Bill to accelerate reforms in the oil and gas industry.   private operators previously granted licenses for refineries should be incentivized to make necessary investments and improve the component of private investment in the downstream oil sector.”

On the effects of the strike on economy, he noted: “of the avoidable adverse effects the protests of the past one week were lof lives and property, eloss which runs into hundreds of billions of naira, uhardships suffered by citizens, many of whom are self employed and depend on daily income streams for sustenance and survival, wreputation and global perception of the country, winvestors’ confidence, hrisk of degeneration into anarchy as miscreant and hoodlums take over the protests in some states.”