By Nkechi Eze
The Nigerian Customs Service (NCS) has consistently demonstrated its commitment to enhancing the operational efficiency of government-owned companies. As part of its efforts to promote transparency, accountability, and good governance, the NCS recently facilitated a roundtable discussion aimed at sharing best practices and strategies for optimizing the performance of state-owned enterprises.
The event which took place at the NCS Headquarters, Maitama Abuja, brought together key stakeholders from the military, paramilitary, and financial sectors.
This initiative is particularly timely, given the crucial role that government-owned companies play in driving economic growth, providing essential services, and generating revenue for the government. However, these companies often face unique challenges, including bureaucratic inefficiencies, limited resources, and inadequate management structures.
The one-day event was attended by the Comptroller-General of Customs (CGC), Adewale Adeniyi, alongside his management team, representatives from the Ministry of Finance, senior officers from the Nigerian Air Force, and board members of various government-owned companies. Also present were distinguished guest speakers, including Rear Admiral Suleiman Abdullahi, Air Vice Marshal Mohammed Umar (Rtd.), Professor Peter Akper, SAN, Wing Commander Mohammed Mamu, and Managing Partner of Anaebonam Ken & Co, Christopher Ekwozor.
In his keynote address, CGC Adeniyi underscored the significance of corporate governance, financial autonomy, and operational efficiency in managing government-owned enterprises, particularly those under military and paramilitary organisations. He emphasised that the Nigeria Customs Service operates four companies, each contributing to economic growth, job creation, and service delivery.
“We are here today to examine these companies’ operational structures, corporate governance, and financial realities. By sharing experiences and identifying challenges, we can develop solutions that will drive growth and efficiency,” he stated.
Air Vice Marshal Mohammed Umar (Rtd.) provided insights into the establishment and management of military-owned companies, tracing their evolution and impact. He highlighted the pioneering role of Engineering and Technical Services Limited, followed by other entities such as Properties, Housing and Construction Services, and the Nigerian Air Force Investment Company Limited.
Another expert, Rear Admiral Suleiman Abdullahi, former Director of Logistics and Defence Administration, discussed the unique challenges faced by government-owned companies, particularly the delicate balance between government oversight and business autonomy.
“Understanding the legal and structural frameworks of such companies is essential for their sustainability,” he noted.
The roundtable discussion came at a crucial time when government-owned enterprises strive to enhance efficiency and profitability while aligning with broader governance structures. The discussions fostered collaboration between security agencies and business entities, paving the way for improved operational standards.
The NCS Director of Legal Services, Smart Akande, Esq., delivered the vote of thanks, commending CGC Adeniyi and his management team for spearheading the initiative. He also appreciated the esteemed speakers and attendees’ invaluable insights and contributions.
“Your perspectives have enriched our understanding of operational best practices for government-owned companies,” he stated.
The event wrapped up with a revitalized pledge to fortify governance, boost operational efficiency, and guarantee that state-owned enterprises continue to drive national economic growth.
