The Association of National Accountants of Nigeria (ANAN) yesterday commended the drive of the Federal Government for its initiative in mapping out strategies for sustainable growth in the Nigerian economy through an intelligent design of 2016 budget.

The President and Chairman of Council of the association, Mr. Anthony Chukwuemeka Nzom, FCNA made the commendation while delivering his address on the occasion of the opening ceremony of the first session of 2016 Mandatory Continuing Professional Development and Induction of new members, held in Ilorin. The conference which was hosted by the Ilorin branch of the association, has its theme as "Challenges and Landmark Issues in Accounting Profession".

According to Mr. Nzom, fulfilling the mandate of change which the budget was aimed at, will require adroit effort in encouraging diversification, managing inflation, import substitution, export promotion and other creative attempts to achieve overall macro-economic stability.

Mr. Nzom said that the effort of FG at revamping the Nigerian oil sector was a positive indication for the economy, as evinced in the revitalization of some refineries in the country for the production of oil. "This will enhance homegrown oil production capacity and reduce the volume of oil importation," he added.

He charged members to incline themselves with the latest trend in financial reporting which is the International Public Sector Accounting Standard in order to possess the leverage and expertise in ever dynamic world of accountancy. "Accountants' expertise in this aspect of financial reporting is highly encouraged in order to further ANAN's goal of advancing the science of accountancy through the acquisition of requisite knowledge and skills and to promote Nigeria's status as a key player in the global economy," he said. In his welcome address, the Chairman, Kwara State branch of the association, Mr. Ishola Moses Abiodun said the association was established by Act 76 of 1993 for the regular training and retraining of members through the Mandatory Continuing Professional Development Programme.

Mr. Abiodun, however, appreciated the governor of the state, Dr. Abdulfatah Ahmed for his support and contribution to ANAN in Kwara State, especially in the creation of conducive, orderly and peaceful environment for the conference.