Thursday, February 25, 2016
Buhari to implement Jonathan’s FDI industrial revolution plan
The President Muhammadu Buhari’s administration has announced plans to implement the Nigeria Industrial Revolution Plan (NIRP) initiated by the immediate past administration led by Goodluck Jonathan.
Proactively designed to salvage Nigeria’s economy from its monolithic status, the NIRP was launched in 2014 to transform the country from commodity export nation into an industrial economy.
While launching the programme, former President Jonathan described it as the most ambitious and comprehensive roadmap that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.
Speaking at his inaugural press briefing in Lagos, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said that manufacturing currently contributes only a tenth to the nation’s Gross Domestic Product (GDP), which is much lower than it does in other emerging market economies.
The minister said that the industrialisation ambition of the nation was hinged on the NIRP, adding that it was now time to move the comprehensive document from plan to action.
His words: “It is now our duty to implement that plan in light of current realities, taking into consideration the lessons learnt in the two years since it was unveiled.
“We are focusing on identifying and supporting a select number of industrial sectors in which Nigeria has comparative advantage. We have seen success in our backward integration policies in the cement industry; and sugar is currently trying to replicate that success.
“In the automotive, cotton, textile and garment (CTG) industries, we are continuing discussions with players and stakeholders to see how we can better implement an industrial policy that creates jobs, profits and prosperity.”
SEE ALSO: N10bn fraud: EFCC to demand full repayment of what PDP delegates recieved
While describing the current economic situation as extraordinary times for Nigeria as a country, its citizens and for the government, he lamented that oil price, on which the nation depended for 75 per cent of government revenues and 90 per cent of foreign exchange earnings, has been down by 70 per cent since mid-2014.
He explained that the development was coupled with the knock-on effects from changing conditions in the world’s two largest economies, from the end of the era of quantitative easing in the United States and availability of higher returns to investors, and the slowdown in China.
“These are also accompanied by a net outflow of investment from emerging markets. The negative impact of all these on our economy, everything from government’s finances to investment flows to currency valuation has been significantThe President Muhammadu Buhari’s administration has announced plans to implement the Nigeria Industrial Revolution Plan (NIRP) initiated by the immediate past administration led by Goodluck Jonathan.”
Advertisement
Proactively designed to salvage Nigeria’s economy from its monolithic status, the NIRP was launched in 2014 to transform the country from commodity export nation into an industrial economy.
While launching the programme, former President Jonathan described it as the most ambitious and comprehensive roadmap that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.
Speaking at his inaugural press briefing in Lagos, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said that manufacturing currently contributes only a tenth to the nation’s Gross Domestic Product (GDP), which is much lower than it does in other emerging market economies.
SEE ALSO: Tompolo: Withdraw troops from Niger Delta – Ann-Kio Briggs warns Buhari
The minister said that the industrialisation ambition of the nation was hinged on the NIRP, adding that it was now time to move the comprehensive document from plan to action.
His words: “It is now our duty to implement that plan in light of current realities, taking into consideration the lessons learnt in the two years since it was unveiled.
“We are focusing on identifying and supporting a select number of industrial sectors in which Nigeria has comparative advantage. We have seen success in our backward integration policies in the cement industry; and sugar is currently trying to replicate that success.
“In the automotive, cotton, textile and garment (CTG) industries, we are continuing discussions with players and stakeholders to see how we can better implement an industrial policy that creates jobs, profits and prosperity.”
While describing the current economic situation as extraordinary times for Nigeria as a country, its citizens and for the government, he lamented that oil price, on which the nation depended for 75 per cent of government revenues and 90 per cent of foreign exchange earnings, has been down by 70 per cent since mid-2014.
He explained that the development was coupled with the knock-on effects from changing conditions in the world’s two largest economies, from the end of the era of quantitative easing in the United States and availability of higher returns to investors, and the slowdown in China.
“These are also accompanied by a net outflow of investment from emerging markets. The negative impact of all these on our economy, everything from government’s finances to investment flows to currency valuation has been significant.”
Tuesday, February 23, 2016
HOPE FOR NAIRA AS IT FIRMED UP AGAINST DOLLAR
Naira Appreciates Against Dollar After Buhari's Bold Statement
The Nigeria's naira on Monday firmed sharply on the parallel market
following President Muhammadu Buhari's defiant stance over the country's
currency.
President Buhari had on Saturday again rejected the idea of devaluing the West African nation's currency, despite a hammering of the naira on the secondary market last week.
The naira appreciated to 375 against the dollar, as importers started to reduce demand for dollars after Buhari's statement.
The naira firmed 4 percent from Friday's close of 390 to the dollar, while the official interbank rate remained at 199.50 to the dollar at the close of trading on Monday.
Aminu Gwadabe, the head of Nigeria's bureaux de change association said retail currency operators were working to introduce a single quote across the parallel market and maintain a bid-ask spread of 3.5 percent for trades.
"We have set up a unit to monitor compliance with the new measures," he told Reuters, adding that the central bank has been informed of the measures," he said.
Reuters
President Buhari had on Saturday again rejected the idea of devaluing the West African nation's currency, despite a hammering of the naira on the secondary market last week.
The naira appreciated to 375 against the dollar, as importers started to reduce demand for dollars after Buhari's statement.
The naira firmed 4 percent from Friday's close of 390 to the dollar, while the official interbank rate remained at 199.50 to the dollar at the close of trading on Monday.
Aminu Gwadabe, the head of Nigeria's bureaux de change association said retail currency operators were working to introduce a single quote across the parallel market and maintain a bid-ask spread of 3.5 percent for trades.
"We have set up a unit to monitor compliance with the new measures," he told Reuters, adding that the central bank has been informed of the measures," he said.
Reuters
APC CONSPIRACY FOR SINGLE TERM
APC ON THE VERGE OF BECOMING A SINGLE TERM PARTY; as a new ideology
sets to establish its authority, a new political party beckons
-Orkuma Hembe former NANS President
The twilight of the 16 year rule of the PDP administration, climaxed in
Goodluck Ebele Jonathan’s five year administration when he held sway as
the President of the Federal Republic of Nigeria. A better part of
those PDP 16 years was described by watchers and political analysts
alike, as a period of a nascent democracy, another school of thought
often argued that politics was an evolutionary process but I always
begged to disagree.
Then our mistakes as a nation or deliberate attempts by politicians to swindle, arm-twist or manipulate the electorate/ people were often down played under the blackmail of a the popular mantra; “our country’s democracy is only so far experimental and an evolving democratic experience”.
Incumbent leaderships at that time had the power to do and undo, in fact I once eaves dropped on a highly placed politician telling his friend that after God, government might is next in line in terms of authority and power.
A President or Governor –elect had his second term automatically guaranteed as soon as he wore that toga of incumbency. The general public as well as public office holders were all at the mercy of these incumbent individuals whose enormous powers new no bounds.
I remember in 2003, when Obasanjo presented himself for a second tenure re- run election against the then General Muhamadu Buhari. A good number of Nigerians opposed his re-election bid so vehemently; I was one of them. In fact, I together with other student leaders mobilised to Abuja to protest against the pronouncement of his re-election victory by the controversial the Maurice Iwuh led INEC. We were arrested, molested and ended up detained at the Zone 3 Police station for several days on the orders of the former inspector General of Police Chief Tafa Balogun. The news of our arrest didn’t even make it to the cartoon (omoba) page of any national daily, just as our execution or death sentence wouldn’t have meant so much.
The use of states instruments of coercion to manipulate our electoral system was the order of the day and this saw to the smooth RE-SELECTION even of the most unpopular government officials in various states and local Governments, all to the disadvantage, disenfranchisement and disagreement of the opposition and electorate.
At that time, all a politician need to do to be relevant within the polity had nothing to do with his popularity amongst his people or his performance while in office; instead, all that mattered was your ability to remain in the good books of the incumbents, especially the President of the Federal republic so he could hand you the states instruments of coercion during the electioneering process.
In all this political calculations, the electorate/common man was completely ignored helpless and relegated. Whether he chose to vote or not, it did not matter because his opinion or civic duty could not alter the final results of the electoral process anyway.
In every crisis situation they say, great opportunities lie. A plethora of litigations followed the post-election era and instantly bestowed a new status of “the beautiful bride” to the bar and the bench. Lawyers and law practice became one of Nigeria’s most lucrative professions.
These political power supremacy battles would then shift from the ballot boxes to the law courts (which are also run by humans who are Nigerian). Politicians would then resort to approaching the courts in company of high political power backing, allied with the popular Nigerian Ghana-must –go bags. They fought and got victory at all cost, leaving behind Senior Advocates and Judges heading to the banks with smiles as wide as if they could eat a banana sideways. Leaving the judiciary with very little to admire or desire.
In all these the electorate, the common man, the ordinary voter, was either relegated ignored or completely helpless.
The People Democratic Party remained one united party whose defeat or voluntary exit from power was not in sight. I believe it was not even contemplated within the following century; power seemed completely of the reach of the opposition parties.
As the years went by and more events unfolded, I began to gradually align my thoughts with the idea that politics is truly evolutionary, with no permanent friends or foes only permanent interests. Just about when I would conclude that no opposition party had the nerve to unseat the PDP, a doctrine of the holy Bible came to pass; “a house divided against its self will not stand”.
This doctrine set itself upon the path fulfilment in 2003, when Alhaji Atiku Abubakar stepped up to challenge his principal Chief Olusegun Obasanjo in the race for the almighty PDP Presidential ticket. This singular act initiated the journey to what we enjoy today as voters, whose votes count.
The rofo rofo between Obasanjo and Atiku consciously or unconsciously set the stage for a consideration of the common man but rather fortunately or unfortunately, the Governors forum ambushed the electorate and once again took authority (which originally was that of the common man) to decide who got what and how. The Governors became what Obasanjo described recently as emperors in their states and the nation at large. Their word was law and their states were held hostage under their careful watch.
As the internal wrangling within the PDP continued, it caused Obasanjo to begin a search for his successor whose credentials and public image would appeal to the electorate/common voter on the street as well as meet the condition of the Governors forum that such a candidate must be from within their fold. This led to the emergence of Alhaji Umaru Musa YarAdua, a man whose character was unquestionable.
At the time had far more appealing credentials than any of his colleagues; I stand to be corrected. YarAdua stepped in more like a neutral personality, a meeting point for the trio of an incumbent President the Governors forum and a bit of the Nigerian electorate.
Chief Obasanjo and the PDP would later allocate/impose Goodluck Ebele Jonathan as running mate to YarAdua. The duo was then brought the forth to be challenged once again by Muhamadu Buhari, who to me was gradually becoming a career aspirant of the opposition party.
The battle for supremacy between king makers, king, subjects and nights of the palace continued fiercely within the PDP and the Presidency after YarAdua’s victory and this fuelled our national political evolutionary process in no small measure.
Providence would later play a major role, I will not want to bore you with the politics that led to the emergence of Gooluck Ebele Jonathan; but I must mention as a matter of fact, from a mortal man’s perspective that Chief Olusegun Obasanjo single handedly made it possible for GEJ to become President of the Federal Republic of Nigeria.
Another rofo rofo fight soon set in between Obasanjo and his benefactor GEJ, which in my opinion also added a shoulder to our continuously evolving democracy. I want to believe that Goodluck Ebele Jonathan was providentially designed to be Nigeria’s President at a time such as when he became. He surely had his weaknesses that mainly stemmed from lack of experience and a relatively low self-esteem (I mention this respectfully).
The rofo rofo this time had prompted Chief Olusegun Obasanjo to unseat Goodluck Jonathan at all cost and he needed an alternative candidate and a platform outside the PDP. It was time to once again search for a candidate with a good public appeal. This time not exclusively to the incumbent President and Governors forum alone but to the general public; it was time to empower the neglected electorate/ordinary voter and return his original franchise and mandate to him.
Aggrieved and disgruntled members of the PDP and the opposition began to regroup, strange bed fellows began a romance of the absurd, sentiments of religion and regional politics occupied the media space, politicians that were hitherto beneficiaries of the PDP largesse and impunity, who had cross carpeted to the opposition were baptised and given a new image of freedom fighters and change ambassadors. But the search for men of integrity who would appeal to the electorate would not stop and this saw Chief Oyegun emerge as the APC party chairman and later General Muhamadu Buhari was given the party’s flag to fly.
In 2015 for the first time in our recent history, the electorate voted and our votes counted, sitting incumbents from the local government to Aso Rock were voted out of office and it stood. Some erroneously give credit to GEJ for conceding defeat and handing over power, but I will never succumb to such cheap attempt to give glory to an undeserving personality.
GEJ had earlier in a cowardly attempt tried to throw Nigeria into a civil war situation when his lieutenants, Chief Fadile and Godswill Orubebe attempted to scuttle our electoral process in his popular “we will not take it” episode. GEJ conceded defeat out of a fear of the unknown as far as I am concerned.
As it stands today, we have become beneficiaries of an evolving democracy; it will get better as we progress. Power now rests in the hands of the electorate, we now have the ability to vote in and vote out anybody at will, the incumbency magic has been demystified and dismantled; this was the victory I celebrated when I added my voice to the “change” mantra. I did not celebrate PMB’s victory as President or Governor Ortom’s victory in my home state as much as I celebrated the victory for our evolving democratic and electoral processes.
Before someone misunderstands me, I make bold to say I have no regret as an individual joining forces to vote our GEJ. A man whose numerous short comings one could excuse, save for the irritating fact that he elevated hoodlums and common criminals to statutes of states men. Nonentities like Asari Dokubo, Tompolo and their likes were given such authority to make unguarded statements and take our dear country for a ride.
Then our mistakes as a nation or deliberate attempts by politicians to swindle, arm-twist or manipulate the electorate/ people were often down played under the blackmail of a the popular mantra; “our country’s democracy is only so far experimental and an evolving democratic experience”.
Incumbent leaderships at that time had the power to do and undo, in fact I once eaves dropped on a highly placed politician telling his friend that after God, government might is next in line in terms of authority and power.
A President or Governor –elect had his second term automatically guaranteed as soon as he wore that toga of incumbency. The general public as well as public office holders were all at the mercy of these incumbent individuals whose enormous powers new no bounds.
I remember in 2003, when Obasanjo presented himself for a second tenure re- run election against the then General Muhamadu Buhari. A good number of Nigerians opposed his re-election bid so vehemently; I was one of them. In fact, I together with other student leaders mobilised to Abuja to protest against the pronouncement of his re-election victory by the controversial the Maurice Iwuh led INEC. We were arrested, molested and ended up detained at the Zone 3 Police station for several days on the orders of the former inspector General of Police Chief Tafa Balogun. The news of our arrest didn’t even make it to the cartoon (omoba) page of any national daily, just as our execution or death sentence wouldn’t have meant so much.
The use of states instruments of coercion to manipulate our electoral system was the order of the day and this saw to the smooth RE-SELECTION even of the most unpopular government officials in various states and local Governments, all to the disadvantage, disenfranchisement and disagreement of the opposition and electorate.
At that time, all a politician need to do to be relevant within the polity had nothing to do with his popularity amongst his people or his performance while in office; instead, all that mattered was your ability to remain in the good books of the incumbents, especially the President of the Federal republic so he could hand you the states instruments of coercion during the electioneering process.
In all this political calculations, the electorate/common man was completely ignored helpless and relegated. Whether he chose to vote or not, it did not matter because his opinion or civic duty could not alter the final results of the electoral process anyway.
In every crisis situation they say, great opportunities lie. A plethora of litigations followed the post-election era and instantly bestowed a new status of “the beautiful bride” to the bar and the bench. Lawyers and law practice became one of Nigeria’s most lucrative professions.
These political power supremacy battles would then shift from the ballot boxes to the law courts (which are also run by humans who are Nigerian). Politicians would then resort to approaching the courts in company of high political power backing, allied with the popular Nigerian Ghana-must –go bags. They fought and got victory at all cost, leaving behind Senior Advocates and Judges heading to the banks with smiles as wide as if they could eat a banana sideways. Leaving the judiciary with very little to admire or desire.
In all these the electorate, the common man, the ordinary voter, was either relegated ignored or completely helpless.
The People Democratic Party remained one united party whose defeat or voluntary exit from power was not in sight. I believe it was not even contemplated within the following century; power seemed completely of the reach of the opposition parties.
As the years went by and more events unfolded, I began to gradually align my thoughts with the idea that politics is truly evolutionary, with no permanent friends or foes only permanent interests. Just about when I would conclude that no opposition party had the nerve to unseat the PDP, a doctrine of the holy Bible came to pass; “a house divided against its self will not stand”.
This doctrine set itself upon the path fulfilment in 2003, when Alhaji Atiku Abubakar stepped up to challenge his principal Chief Olusegun Obasanjo in the race for the almighty PDP Presidential ticket. This singular act initiated the journey to what we enjoy today as voters, whose votes count.
The rofo rofo between Obasanjo and Atiku consciously or unconsciously set the stage for a consideration of the common man but rather fortunately or unfortunately, the Governors forum ambushed the electorate and once again took authority (which originally was that of the common man) to decide who got what and how. The Governors became what Obasanjo described recently as emperors in their states and the nation at large. Their word was law and their states were held hostage under their careful watch.
As the internal wrangling within the PDP continued, it caused Obasanjo to begin a search for his successor whose credentials and public image would appeal to the electorate/common voter on the street as well as meet the condition of the Governors forum that such a candidate must be from within their fold. This led to the emergence of Alhaji Umaru Musa YarAdua, a man whose character was unquestionable.
At the time had far more appealing credentials than any of his colleagues; I stand to be corrected. YarAdua stepped in more like a neutral personality, a meeting point for the trio of an incumbent President the Governors forum and a bit of the Nigerian electorate.
Chief Obasanjo and the PDP would later allocate/impose Goodluck Ebele Jonathan as running mate to YarAdua. The duo was then brought the forth to be challenged once again by Muhamadu Buhari, who to me was gradually becoming a career aspirant of the opposition party.
The battle for supremacy between king makers, king, subjects and nights of the palace continued fiercely within the PDP and the Presidency after YarAdua’s victory and this fuelled our national political evolutionary process in no small measure.
Providence would later play a major role, I will not want to bore you with the politics that led to the emergence of Gooluck Ebele Jonathan; but I must mention as a matter of fact, from a mortal man’s perspective that Chief Olusegun Obasanjo single handedly made it possible for GEJ to become President of the Federal Republic of Nigeria.
Another rofo rofo fight soon set in between Obasanjo and his benefactor GEJ, which in my opinion also added a shoulder to our continuously evolving democracy. I want to believe that Goodluck Ebele Jonathan was providentially designed to be Nigeria’s President at a time such as when he became. He surely had his weaknesses that mainly stemmed from lack of experience and a relatively low self-esteem (I mention this respectfully).
The rofo rofo this time had prompted Chief Olusegun Obasanjo to unseat Goodluck Jonathan at all cost and he needed an alternative candidate and a platform outside the PDP. It was time to once again search for a candidate with a good public appeal. This time not exclusively to the incumbent President and Governors forum alone but to the general public; it was time to empower the neglected electorate/ordinary voter and return his original franchise and mandate to him.
Aggrieved and disgruntled members of the PDP and the opposition began to regroup, strange bed fellows began a romance of the absurd, sentiments of religion and regional politics occupied the media space, politicians that were hitherto beneficiaries of the PDP largesse and impunity, who had cross carpeted to the opposition were baptised and given a new image of freedom fighters and change ambassadors. But the search for men of integrity who would appeal to the electorate would not stop and this saw Chief Oyegun emerge as the APC party chairman and later General Muhamadu Buhari was given the party’s flag to fly.
In 2015 for the first time in our recent history, the electorate voted and our votes counted, sitting incumbents from the local government to Aso Rock were voted out of office and it stood. Some erroneously give credit to GEJ for conceding defeat and handing over power, but I will never succumb to such cheap attempt to give glory to an undeserving personality.
GEJ had earlier in a cowardly attempt tried to throw Nigeria into a civil war situation when his lieutenants, Chief Fadile and Godswill Orubebe attempted to scuttle our electoral process in his popular “we will not take it” episode. GEJ conceded defeat out of a fear of the unknown as far as I am concerned.
As it stands today, we have become beneficiaries of an evolving democracy; it will get better as we progress. Power now rests in the hands of the electorate, we now have the ability to vote in and vote out anybody at will, the incumbency magic has been demystified and dismantled; this was the victory I celebrated when I added my voice to the “change” mantra. I did not celebrate PMB’s victory as President or Governor Ortom’s victory in my home state as much as I celebrated the victory for our evolving democratic and electoral processes.
Before someone misunderstands me, I make bold to say I have no regret as an individual joining forces to vote our GEJ. A man whose numerous short comings one could excuse, save for the irritating fact that he elevated hoodlums and common criminals to statutes of states men. Nonentities like Asari Dokubo, Tompolo and their likes were given such authority to make unguarded statements and take our dear country for a ride.
The wind of
change I believe will gradually restore Nigeria to its factory settings.
Only last weekend, Senator David Mark and Daniel Onjeh subjected
themselves to a keenly contested electoral process and the electorate
decided their fate. That is the change we voted, prayed and fought for,
let the people enjoy their exclusive right to decide who leads them.
Today I am proud to be a Nigerian more than ever; I can now conveniently become an official card carrying member of a political party but definitely not the APC or PDP, I see an emerging political party with a strong ideological foundation made up of men of high integrity; this is evident in the recent punching and kicking within the PDP that greeted the emergence of Senator Ali Modu Sherif and the new party chairman. That new ideology, that new shift, that new political party, that’s where I will pitch my tent, that’s where I shall belong.
As for PMB and serving Governors (Mostly APC) please always be mindful of this fact “our card reader still dey oh”. As some of you have chosen to do anyhow, I know the electorate MUST make you see anyhow by the next general election... (Will R share my honest thoughts on the Buhari, Ortom and APC administration in due time )
Today I am proud to be a Nigerian more than ever; I can now conveniently become an official card carrying member of a political party but definitely not the APC or PDP, I see an emerging political party with a strong ideological foundation made up of men of high integrity; this is evident in the recent punching and kicking within the PDP that greeted the emergence of Senator Ali Modu Sherif and the new party chairman. That new ideology, that new shift, that new political party, that’s where I will pitch my tent, that’s where I shall belong.
As for PMB and serving Governors (Mostly APC) please always be mindful of this fact “our card reader still dey oh”. As some of you have chosen to do anyhow, I know the electorate MUST make you see anyhow by the next general election... (Will R share my honest thoughts on the Buhari, Ortom and APC administration in due time )
Subscribe to:
Posts (Atom)