Read below the full text of the President’s address to
the nation to mark the democracy Day celebrations and
a hundred days in office.
My compatriots,
It is one year today since our administration came
into office. It has been a year of triumph,
consolidation, pains and achievements. By age,
instinct and experience, my preference is to look
forward, to prepare for the challenges that lie ahead
and rededicate the administration to the task of
fixing Nigeria. But I believe we can also learn from
the obstacles we have overcome and the progress we
made thus far, to help strengthen the plans that we
have in place to put Nigeria back on the path of
progress.
We affirm our belief in democracy as the form of
government that best assures the active participation
and actual benefit of the people. Despite the many
years of hardship and disappointment the people of
this nation have proved inherently good, industrious
tolerant, patient and generous.
The past years have witnessed huge flows of oil
revenues. From 2010 average oil prices were $100
per barrel. But economic and security conditions were
deteriorating. We campaigned and won the election
on the platform of restoring security, tackling
corruption and restructuring the economy. On our
arrival, the oil price had collapsed to as low as $30
per barrel and we found nothing had been kept for
the rainy day. Oil prices have been declining since
2014 but due to the neglect of the past, the country
was not equipped to halt the economy from
declining.
The infrastructure, notably rail, power, roads were in
a decrepit state. All the four refineries were in a state
of disrepair, the pipelines and depots neglected.
Huge debts owed to contractors and suppliers had
accumulated. Twenty-seven states could not pay
salaries for months. In the north-east, Boko Haram
had captured 14 local governments, driven the local
authorities out, hoisted their flags. Elsewhere,
insecurity was palpable; corruption and impunity
were the order of the day. In short, we inherited a
state near collapse.
On the economic front, all oil dependent countries,
Nigeria included, have been struggling since the drop
in prices. Many oil rich states have had to take
tough decisions similar to what we are doing. The
world, Nigeria included has been dealing with the
effects of three significant and simultaneous global
shocks starting in 2014:
A 70% drop in oil prices.
Global growth slowdown.
Normalization of monetary policy by the United
States federal reserve.
Our problems as a government are like that of a
farmer who in a good season harvests ten bags of
produce. The proceeds enable him to get by for rest
of the year. However, this year he could only manage
3 bags from his farm. He must now think of other
ways to make ends meet.
From day one, we purposely set out to correct our
condition, to change Nigeria. We reinforced and
galvanized our armed forces with new leadership and
resources. We marshaled our neighbours in a joint
task force to tackle and defeat Boko Haram. By the
end of December 2015, all but pockets and remnants
had been routed by our gallant armed forces. Our
immediate focus is for a gradual and safe return of
internally displaced persons in safety and dignity and
for the resumption of normalcy in the lives of people
living in these areas.
EFCC was given the freedom to pursue corrupt
officials and the judiciary was alerted on what
Nigerians expect of them in the fight against
corruption. On the economy, in particular foreign
exchange and fuel shortages, our plan is to save
foreign exchange by fast tracking repair of the
refineries and producing most of our fuel
requirements at home. And by growing more food in
Nigeria, mainly rice, wheat and sugar we will save
billions of dollars in foreign exchange and drastically
reduce our food import bill.
We resolved to keep the Naira steady, as in the past,
devaluation had done dreadful harm to the Nigerian
economy. Furthermore, I supported the monetary
authority’s decision to ensure alignment between
monetary policy and fiscal policy. We shall keep a
close look on how the recent measures affect the
Naira and the economy. But we cannot get away from
the fact that a strong currency is predicated on a
strong economy. And a strong economy pre-supposes
an industrial productive base and a steady export
market. The measures we must take, may lead to
hardships. The problems Nigerians have faced over
the last year have been many and varied. But the
real challenge for this government has been
reconstructing the spine of the Nigerian state. The
last twelve months have been spent collaborating
with all arms of government to revive our institutions
so that they are more efficient and fit for purpose:
That means a bureaucracy better able to develop and
deliver policy
That means an independent judiciary, above
suspicion and able to defend citizen’s rights and
dispense justice equitably.
That means a legislature that actually legislates
effectively and
Above all; that means political parties and
politicians committed to serving the Nigerian people
rather than themselves.
These are the pillars of the state on which democracy
can take root and thrive. But only if they are strong
and incorruptible. Accordingly, we are working very
hard to introduce some vital structural reforms in the
way we conduct government business and lay a solid
foundation on which we can build enduring change.
An important first step has been to get our
housekeeping right. So we have reduced the
extravagant spending of the past. We started boldly
with the treasury single account, stopping the
leakages in public expenditure.
We then identified forty-three thousand ghost
workers through the Integrated Payroll and Personnel
Information system. That represents pay packets
totalling N4.2 billion stolen every month. In
addition, we will save Twenty-Three Billion Naira per
annum from official travelling and sitting allowances
alone.
Furthermore, the efficiency unit will cut costs and
eliminate duplications in ministries and departments.
Every little saving helps. The reduction in the number
of ministries and work on restructuring and
rationalization of the MDAs is well underway. When
this work is complete we will have a leaner, more
efficient public service that is fit for the purpose of
changing Nigeria for the good and for good.
As well as making savings, we have changed the way
public money is spent. In all my years as a public
servant, I have never come across the practice of
padding budgets. I am glad to tell you now we not
only have a budget, but more importantly, we have a
budget process that is more transparent, more
inclusive and more closely tied to our development
priorities than in the recent past. 30% of the
expenditure in this budget is devoted to capital
items. Furthermore, we are projecting non-oil
revenues to surpass proceeds from oil. Some critics
have described the budget exercise as clumsy.
Perhaps. But it was an example of consensus
building, which is integral to democratic government.
In the end we resolved our differences.
We have, therefore, delivered significant milestones
on security, corruption and the economy. In respect
of the economy, I would like to directly address you
on the very painful but inevitable decisions we had to
make in the last few weeks specifically on the pump
price of fuel and the more flexible exchange rate
policy announced by the central bank. It is even more
painful for me that a major producer of crude oil with
four refineries that once exported refined products is
today having to import all of its domestic needs.
This is what corruption and mismanagement has
done to us and that is why we must fight these ills.
As part of the foundation of the new economy we
have had to reform how fuel prices had traditionally
been fixed. This step was taken only after protracted
consideration of its pros and cons. After
comprehensive investigation my advisers and I
concluded that the mechanism was unsustainable.
We are also engaged in making recoveries of stolen
assets some of which are in different jurisdictions.
The processes of recovery can be tedious and time
consuming, but today I can confirm that thus far:
significant amount of assets have been recovered. A
considerable portion of these are at different stages
of recovery. Full details of the status and categories
of the assets will now be published by the Ministry
of Information and updated periodically. When
forfeiture formalities are completed these monies will
be credited to the treasury and be openly and
transparently used in funding developmental projects
and the public will be informed.
On the Niger Delta, we are committed to
implementing the United Nations Environment
Programme report and are advancing clean-up
operations. I believe the way forward is to take a
sustainable approach to address the issues that
affect the delta communities. Re-engineering the
amnesty programmes is an example of this. The
recent spate of attacks by militants disrupting oil
and power installations will not distract us from
engaging leaders in the region in addressing Niger
Delta problems. If the militants and vandals are
testing our resolve, they are much mistaken. We shall
apprehend the perpetrators and their sponsors and
bring them to justice.
The policy measures and actions taken so far are not
to be seen as some experiment in governance. We are
fully aware that those vested interests who have held
Nigeria back for so long will not give up without a
fight. They will sow divisions, sponsor vile press
criticisms at home and abroad, incite the public in
an effort to create chaos rather than relinquish the
vice-like grip they have held on Nigeria.
The economic misfortune we are experiencing in the
shape of very low oil prices has provided us with an
opportunity to restructure our economy and diversify.
We are in the process of promoting agriculture,
livestocks, exploiting our solid mineral resources and
expanding our industrial and manufacturing base.
That way, we will import less and make the social
investments necessary to allow us to produce a large
and skilled workforce.
Central Bank of Nigeria will offer more fiscal
incentives for business that prove capable of
manufacturing products that are internationally
competitive. We remain committed to reforming the
regulatory framework, for investors by improving the
ease of doing business in Nigeria.
Meanwhile, the first steps along the path of self-
sufficiency in rice, wheat and sugar – big users of
our scarce foreign exchange – have been taken. The
Labour Intensive Farming Enterprise will boost the
economy and ensure inclusive growth in long
neglected communities. Special intervention funds
through the Bank of Agriculture will provide targeted
support. Concerns remain about rising cost of foods
such as maize, rice, millet, beans and gari. Farmers
tell me that they are worried about the cost of
fertilizers, pesticides and the absence of extension
services. The federal and state governments are on
the same page in tackling these hurdles in our efforts
at increased food production and ultimately food
security.
I would like to take this opportunity to express my
appreciation for the increasing role that our women
are playing in revitalizing the agricultural sector.
Modern farming is still hard and heavy work and I
salute our Nigerian women in sharing this burden. In
this respect I am very pleased to announce that the
government will shortly be launching the national
women’s empowerment fund, which I have approved
to provide N1.6 billion in micro-finance loans to
women across the nation to assist in rehabilitating
the economies of rural communities, particularly
those impacted by the insurgency and conflict.
With respect to solid minerals, the minister has
produced a roadmap where we will work closely with
the world bank and major international investors to
ensure through best practices and due diligence that
we choose the right partners. Illegal mining remains
a problem and we have set up a special security team
to protect our assets. Special measures will be in
place to protect miners in their work environment.
For too long, ours has been a society that neglects
the poor and victimizes the weak. A society that
promotes profit and growth over development and
freedom. A society that fails to recognize that, to
quote the distinguished economist Amartya Sen “
poverty is not just lack of money. It is not having the
capability to realize one’s full potential as a human
being.”
So, today, I am happy to formally launch, by far the
most ambitious social protection programme in our
history. A programme that both seeks to start the
process of lifting many from poverty, while at the
same time creating the opportunity for people to fend
for themselves. In this regard, Five Hundred Billion
Naira has been appropriated in the 2016 budget for
social intervention programmes in five key areas. We
are committed to providing job creation opportunities
for five hundred thousand teachers and one hundred
thousand artisans across the nation. 5.5 million
children are to be provided with nutritious meals
through our school feeding programme to improve
learning outcomes, as well as enrolment and
completion rates. The conditional cash transfer
scheme will provide financial support for up to one
million vulnerable beneficiaries, and complement the
enterprise programme – which will target up to one
million market women; four hundred and sixty
thousand artisans; and two hundred thousand
agricultural workers, nationwide. Finally, through the
education grant scheme, we will encourage students
studying sciences, technology, engineering and
maths, and lay a foundation for human capital
development for the next generation
I would like to pay a special tribute to our gallant
men and women of the armed forces who are in
harm’s way so that the rest of us can live and go
about our business in safety. Their work is almost
done. The nation owes them a debt of gratitude.
Abroad, we want to assure our neighbours, friends
and development partners that Nigeria is firmly
committed to democratic principles. We are ready
partners in combating terrorism, cyber crimes,
control of communicable diseases and protection of
the environment. Following on the Paris Agreement,
COP 21, we are fully committed to halting and
reversing desertification. Elsewhere, we will intensify
efforts to tackle erosion, ocean surge, flooding and
oil spillage which I referred to earlier by
implementing the United Nations Environment
Programme (UNEP) report.
We are grateful to the international community
notably France, the US, UK and China for their quick
response in helping to tackle the recent Ebola
outbreak in our sub-region. We also acknowledge the
humanity shown by the Italian and German
governments in the treatment of boat people, many
fleeing from our sub-region because of lack of
economic opportunity. We thank all our partners
especially several countries in the EU.
We appreciate the valuable work that the UN
agencies, particularly UNICEF, ICRC, the World Food
Program have been doing. We must also appreciate
the World Bank, the Gates Foundation, the Global
Fund and Educate A Child of Qatar for the excellent
work in our health, education and other sectors.
Fellow citizens let me end on a happy note. To the
delight of all, two of the abducted Chibok girls have
regained their freedom. During the last one year, not
a single day passed without my agonizing about
these girls. Our efforts have centred around
negotiations to free them safely from their mindless
captors. We are still pursuing that course. Their
safety is of paramount concern to me and I am sure
to most Nigerians. I am very worried about the
conditions those still captured might be in. Today I
re-affirm our commitment to rescuing our girls. We
will never stop until we bring them home safely. As I
said before, no girl should be put through the
brutality of forced marriage and every Nigerian girl
has the right to an education and a life choice.
I thank you and appeal to you to continue supporting
the government’s efforts to fix Nigeria.
Post a Comment