Build financial credibility before seeking funds, NIGCOMSAT urges public institutions

Nigerian Communications Satellite Limited's Managing Director, Jane Egerton-Idehen, has advised heads of public institutions to enhance their financial credibility before requesting additional funding for reforms. During a podcast, Egerton-Idehen emphasized that before approaching external investors, institutions should showcase their ability to responsibly manage and utilize existing resources.

Transparent financial reporting and consistent achievement of targets, she said, are essential practices that can establish public institutions' credibility with potential funders. Egerton-Idehen cautioned that financial credibility should not be determined solely by an institution's capacity to generate commercial returns. Instead, clean audits, functional organizational structures, and other indicators should be considered.

Furthermore, she urged reform leaders to adopt proactive transparency by disclosing key financial information to the public without waiting for requests from stakeholders.