The Minister of State for Education, Goodluck Opiah, reiterated the need for the education system in Nigeria to prepare the youths for a knowledge-driven economy.
The minister stated this during the inauguration of the Council of the Chartered Institute of Treasury Management in Abuja on Tuesday.
Speaking during the event, Opiah reiterated the need for the members of the institutes to contribute and work towards a sustainable economy.
“Treasury management is a ‘MUST BE for any nation that targets sustainable development because it is a strategic approach to optimizing beneficial returns of innovative deployment of both public and private finance. In addition, treasury management helps to put in place preventive mechanism to safeguard resources and ensure that there is value for money.
“I am very confident that the benefits and impacts of the establishment of this Institute will be positive on our society and the Nigerian economy when fully operational.”
Highlighting some of the importance of treasury management, the minister said, “Supervision and management of cash flows and its balances will be better managed and utilized; There would be better services from banks; Proper allocation of funds will be achieved; fraud and embezzlement would be minimized.
“We all know that with the above mention benefits, the economy will function better with adequate financial resources appropriately allocated and disbursed. The Chartered Institute of Treasury Management is particularly important to the education sector because it will help ensure that finances allocated to the sector by government, civil society and nongovernmental organizations will be judiciously utilized for the achievement of the Ministry’s three focal areas of Access, Quality and Systems Strengthening and of course the timely attainment of the Ministry’s 10 Pillars of the Education for Change: A Ministerial Strategic Plan
“Distinguished ladies and gentleman, we all agree to the fact that Nigeria education must prepare and arm Nigeria’s youths to take competitive advantage of the 21st century knowledge-driven economy within and outside the country. I believe that the operations of this Institute will help us achieve this target.”