Governance in the context of this paper is defined as the process of allocating resources, through the instrumentalities of the state, for the attainment of public good. Thus, governance includes institutional and structural arrangements, decision making processes, policy formulation and implementation capacity, development of personnel, information flows and the nature and style of leadership within a political system. Hence, governance is largely about problem identification and solving. It is also about social, economic and political progress or advancement. Consequently, governance has social, economic, administrative and political dimensions (World Bank Institute, 2003). Economic governance includes processes of decisionmaking that directly or indirectly affect a country’s economic activities or its relationships with other economies. Generally, economic governance has a major influence on societal issues, such as equity, poverty and quality of life. Political governance refers to decisionmaking and policy implementation of a legitimate and authoritative state. The state should consist of separate legislative, executive and judicial branches, represent the interests of a pluralist polity, and allow citizens to freely elect their representatives. Administrative governance, to the World Bank, is a system of policy implementation Ogundiya 203 carried out through an efficient, independent, accountable and open public sector. These elements constitute the governance system, that is, the formal institutional and organisational structure of authoritative decision-making in the modern state. Systemic governance encompasses the processes and structures of society that guide political and socioeconomic relationships to protect cultural and religious beliefs and values, create and maintain an environment of health, freedom, security and with the opportunity to exercise personal capabilities that lead to a better life for all people (World Bank Institute,2003).