.Urges President to fight corruption in NNPCL, opposes floating of Naira
.Advocates for reduction in cost of governance
.FG committed to alleviating suffering of Nigerians – Information Minister
Ibrahim Quadri with agency report
The Presidential Candidate of the Peoples Democratic Party, PDP in 2023 general election, Alhaji Atiku Abubakar has berated the reform programmes of President Bola Tinubu, noting that the repositioning of the Nigerian National Petroleum Company Limited, NNPCL is a necessity to truly fight endemic corruption in the system.
In a statement he personally signed with the title, ‘What We Would Have Done Differently,’ the former Vice President said fighting corruption should have commenced with NNPCL which according to him, is a huge beneficiary of the status quo.
Atiku noted that Nigeria is the most inefficient Organization of Petroleum Exporting Countries, OPEC member in terms of both the percentage of installed refining capacity that works and the percentage of crude refined.
He stressed that adopting a floating exchange rate system would be an overkill, adding that the Central Bank of Nigeria, CBN should have adopted a gradualist approach to FX management.
He added that eliminating revenue leakages arising from governance, including the cost of running the government and the government procurement process adding that public office holders would not have been living in luxury while the citizens wallow in misery.
He pointed out that transparent communication with the public is essential to build public trust, saying it is important to ensure that the public understands what the government is doing.
Atiku, who disclosed that he had been inundated with inquiries of what he would have done differently if he was in power, also stated that he would have commenced on day one, the reform of security institutions with improved funding, and enhanced welfare.
Atiku said, “To underscore our commitment to the development of infrastructure, an Infrastructure Development Unit (IDU) directly under the President’s watch would have come into operation. The IDU will have a coordinating function and a specific mandate of working with the MDAs to fast track the implementation of the infrastructure reform agenda within the framework provided herein. The IDU will hit the ground running in putting the building blocks for our private sector driven Infrastructure Development Fund (IDF) of approximately US$25 billion.
“To engender fiscal efficiency and promote accountability and transparency in public financial management, we would have committed to a review of the current fiscal support to ailing State-Owned enterprises. We would’ve also begun a process review of government procurement processes to ensure value-for-money and eliminate all leakages.
“We would have initiated a review of the current utilization of all borrowed funds and ensured that they were deployed more judiciously,” Atiku said.
On subsidy removal, Atiku said, “Yes, I have always advocated for the removal of subsidy on PMS because its administration has been mildly put, opaque with so much scope for arbitrariness and corruption. Mind boggling rent profit from oil subsidy accrued to the cabals in public institutions and the private sector.”
To tackle subsidy debacle, he stated, “Fighting corruption should have commenced with the repositioning of the NNPCL, which is a huge beneficiary of the status quo. Its commitment to reform and capacity to implement and enforce reforms is suspect. The subsidy regime has provided an avenue for rent seeking, and the NNPCL and its guardians will be threatened by reforms.
“Second, paying particular attention to Nigeria’s poor refining infrastructure. We are by far the most inefficient OPEC member country in terms of both the percentage of installed refining capacity that works and the percentage of crude refined. We would’ve commenced the privatization of all state-owned refineries and ensure that Nigeria starts to refine at least 50% of its current crude oil output. Nigeria should aspire to export 50% of that capacity to ECOWAS member states.”
He advocated for a gradualist approach in the implementation of the subsidy reforms, saying “Subsidies would not have been removed suddenly and completely. It is instructive that when I was Vice President, we adopted a gradualist approach and had completed phases 1 and 2 of the reform before our tenure ended, lamenting that the successive administration in 2007 abandoned the reforms.
He also called for a robust social protection programme that will support the poor in navigating the cost-of-living challenges arising largely from reform implementation.
“We would’ve invested the savings from subsidy withdrawal to strengthen the productive base of the economy through infrastructure maintenance and development; to improve outcomes in education and healthcare delivery; to improve rural infrastructure and support livelihood expansion in agriculture; and develop the skills and entrepreneurial capacity of our youth in order to enhance their access to better economic opportunities.
On foreign exchange, Atiku stated, “A fixed exchange rate system was out of the question because it would not be in line with our philosophy of running an open, private sector friendly economy. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged our Central Bank to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option.
“We would have been guided by my robust reform agenda as encapsulated in ‘My Covenant With Nigerians’, my policy document that sought to, among others, protect our fragile economy against much deeper crisis by preventing business collapse; our document had spelt out policies that were consistent and coherent.”
FG committed to alleviating suffering of Nigerians – Information Minister
Meanwhile, the Minister of Information and National Orientation, Ahaji Mohammed Idris, says President Bola Tinubu is committed to alleviating the suffering of Nigerians.
Idris said this on Sunday in Kaduna when he featured in a live phone-in programme of the Federal Radio Corporation of Nigeria (FRCN), Hausa Service, Kaduna, ‘Hannu Da Yawa’.
The News Agency of Nigeria (NAN) reports that the minister, who spoke on the hardship caused by the fuel subsidy removal, said the subsidy was only benefiting a few people at the expense of all Nigerians.
He assured that the economy would be stable, adding that no government would want backwardness in its administration.
Idris emphasised that what needed to be fixed in the country does not only lie with the National Assembly, elected representatives or executive arms of the government, but all Nigerians.
He said Tinubu had recently directed the Ministers to cut the cost of governance by limiting the number of their official vehicles when going around their official duties and the number of their personnel during trips.
Idris said, “President Tinubu is pointing out the need to change from the old ways of doing things in Nigeria.
”When ever we sit for FEC meetings, what the President is emphasising is the need to cut out many expenses which are not necessary in governance.
“Tinubu even came out with a circular on the cost of traveling and the number of vehicles. This might be seen as little, but they actually count.”
The minister said in terms of agriculture, Tinubu said the Ministry of Agriculture and Rural Development was renamed Ministry of Agriculture and Food Security so as to tackle the issues of agriculture at various angles.
He said that the issues of insecurity were being tackled head-on by Tinubu, adding that the issues were on ground even before his administration.
Idris added that the Federal Government was still on the course of acquiring platforms and ensuring the welfare of security personnel to enhance the security architecture of the nation.
He added that the creation of State Police was still on consultation by the president.
Speaking further, Idris said the recent power outage in the Northern parts of the country was not planned as orchestrated by the public.
He restated that no leader would deliberately want his people to be in a state of blackout and other problems.
The minister added, ”The President is doing his best to find lasting solutions to the recurring collapse of the national grid.
“The AKK Gas Pipeline Project is also on the verge of being completed and it will help in revamping industries in the North.”
Idris urged the public to always use social media in propagating the country in good light
Lamenting the obnoxious trend of fake news. the minister, while admitting that it was an issue of global concern, urged for its positive use.
