By Nkechi Eze
The Federal Government has identified national security, fiscal discipline and institutional accountability as critical requirements for Nigeria’s ambition of building a trillion-dollar economy, with a renewed call for stronger collaboration between the defence sector and professional financial institutions.
The Minister of Defence, General Christopher Gwabin Musa (Rtd.), OFR, made the call while delivering a keynote address titled “National Security: Pathway to a Trillion-Dollar Economy” at the 56th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN), held at the Bola Ahmed Tinubu International Conference Centre, Abuja.
According to an official statement signed by Leah Katung-Babatunde, Special Assistant (Media) to the Minister of Defence, Musa said security must be recognised as a fundamental driver of economic growth rather than viewed solely through the traditional responsibilities of the military and law enforcement agencies.
“No investor commits capital where lives and assets are not safe, and no economy grows beyond the reach of its security,” the minister said.
He explained that a secure environment was essential to protecting human capital, safeguarding critical infrastructure, attracting long-term investments and providing the stability businesses need to expand.
Musa acknowledged persistent security challenges, including attacks on communities, highway kidnappings and isolated insurgent activities, but expressed confidence that ongoing operations by the Armed Forces of Nigeria were contributing to the restoration of stability across economic corridors, agricultural belts and industrial zones.
He said the government’s security strategy, aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, was designed to support economic expansion through the protection of strategic assets, improved governance and human capital development.
Other priorities identified by the minister included financial discipline in defence spending, cybersecurity, financial intelligence and the development of domestic defence industrial capacity.
He stressed that prudent management of defence resources and stronger accountability mechanisms were necessary to ensure that public expenditure translated into improved operational capabilities and sustainable security outcomes.
In a move to institutionalise cooperation between the defence sector and the accounting profession, Musa announced the establishment of a Joint Ministry of Defence–ICAN Implementation Committee to develop frameworks for collaboration.
The committee follows proposals by ICAN President, Hajia Queensley Seghosime, mni, FCA, and is expected to promote professional financial management, strengthen institutional capacity and improve accountability within the defence establishment.
The proposed collaboration will include specialised training in public financial management and accounting standards for Armed Forces personnel, as well as joint programmes in forensic accounting and financial intelligence to combat terrorism financing.
It will also explore measures to strengthen corporate governance and improve welfare schemes for veterans.
The minister commended ICAN for its commitment to fiscal discipline, transparency and professional standards, noting the importance of bringing financial expertise to bear on public-sector management and national security.
He maintained that effective security measures, supported by sound financial management and credible institutions, would help create the conditions necessary for sustained investment, productivity and long-term economic prosperity.
