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  • Obama’s acceptance speech

    Obama’s acceptance speech

    President Obama’s acceptance speech (Full transcript)

    OBAMA: Thank you. Thank you. Thank you so much.
    Tonight, more than 200 years after a former colony won the right to determine its own destiny, the task of perfecting our union moves forward.
    (APPLAUSE)
    OBAMA: It moves forward because of you. It moves forward because you reaffirmed the spirit that has triumphed over war and depression, the spirit that has lifted this country from the depths of despair to the great heights of hope, the belief that while each of us will pursue our own individual dreams, we are an American family and we rise or fall together as one nation and as one people.
    (APPLAUSE)
    Tonight, in this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the United States of America the best is yet to come.
    (APPLAUSE)
    OBAMA: I want to thank every American who participated in this election…
    (APPLAUSE)
    … whether you voted for the very first time or waited in line for a very long time.
    (APPLAUSE)
    By the way, we have to fix that.
    (APPLAUSE)
    Whether you pounded the pavement or picked up the phone…
    (APPLAUSE)
    … whether you held an Obama sign or a Romney sign, you made your voice heard and you made a difference.
    I just spoke with Governor Romney and I congratulated him and Paul Ryan on a hard-fought campaign.
    (APPLAUSE)

    We may have battled fiercely, but it’s only because we love this country deeply and we care so strongly about its future. From George to Lenore to their son Mitt, the Romney family has chosen to give back to America through public service and that is the legacy that we honor and applaud tonight.
    (APPLAUSE)
    In the weeks ahead, I also look forward to sitting down with Governor Romney to talk about where we can work together to move this country forward.
    (APPLAUSE)
    I want to thank my friend and partner of the last four years, America’s happy warrior, the best vice president anybody could ever hope for, Joe Biden.
    (APPLAUSE)
    OBAMA: And I wouldn’t be the man I am today without the woman who agreed to marry me 20 years ago.
    (APPLAUSE)
    Let me say this publicly: Michelle, I have never loved you more. I have never been prouder to watch the rest of America fall in love with you, too, as our nation’s first lady.
    (APPLAUSE)
    Sasha and Malia, before our very eyes you’re growing up to become two strong, smart beautiful young women, just like your mom.
    (APPLAUSE)
    OBAMA: And I’m so proud of you guys. But I will say that for now one dog’s probably enough.
    (LAUGHTER)
    To the best campaign team and volunteers in the history of politics…
    (APPLAUSE)
    The best. The best ever. Some of you were new this time around, and some of you have been at my side since the very beginning.
    (APPLAUSE)
    OBAMA: Thank you. Thank you. Thank you so much.

    Tonight, more than 200 years after a former colony won the right to determine its own destiny, the task of perfecting our union moves forward.
    (APPLAUSE)
    OBAMA: It moves forward because of you. It moves forward because you reaffirmed the spirit that has triumphed over war and depression, the spirit that has lifted this country from the depths of despair to the great heights of hope, the belief that while each of us will pursue our own individual dreams, we are an American family and we rise or fall together as one nation and as one people.
    (APPLAUSE)
    Tonight, in this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the United States of America the best is yet to come.
    (APPLAUSE)
    OBAMA: I want to thank every American who participated in this election…
    (APPLAUSE)
    … whether you voted for the very first time or waited in line for a very long time.
    (APPLAUSE)
    By the way, we have to fix that.
    (APPLAUSE)
    Whether you pounded the pavement or picked up the phone…
    (APPLAUSE)
    … whether you held an Obama sign or a Romney sign, you made your voice heard and you made a difference.
    I just spoke with Governor Romney and I congratulated him and Paul Ryan on a hard-fought campaign.
    (APPLAUSE)
    We may have battled fiercely, but it’s only because we love this country deeply and we care so strongly about its future. From George to Lenore to their son Mitt, the Romney family has chosen to give back to America through public service and that is the legacy that we honor and applaud tonight.
    (APPLAUSE)

    In the weeks ahead, I also look forward to sitting down with Governor Romney to talk about where we can work together to move this country forward.
    (APPLAUSE)
    I want to thank my friend and partner of the last four years, America’s happy warrior, the best vice president anybody could ever hope for, Joe Biden.
    (APPLAUSE)
    OBAMA: And I wouldn’t be the man I am today without the woman who agreed to marry me 20 years ago.
    (APPLAUSE)
    Let me say this publicly: Michelle, I have never loved you more. I have never been prouder to watch the rest of America fall in love with you, too, as our nation’s first lady.
    (APPLAUSE)
    Sasha and Malia, before our very eyes you’re growing up to become two strong, smart beautiful young women, just like your mom.
    (APPLAUSE)
    OBAMA: And I’m so proud of you guys. But I will say that for now one dog’s probably enough.
    (LAUGHTER)
    To the best campaign team and volunteers in the history of politics…
    (APPLAUSE)
    The best. The best ever. Some of you were new this time around, and some of you have been at my side since the very beginning.
    (APPLAUSE)
    But all of you are family. No matter what you do or where you go from here, you will carry the memory of the history we made together and you will have the life-long appreciation of a grateful president. Thank you for believing all the way, through every hill, through every valley.
    But all of you are family. No matter what you do or where you go from here, you will carry the memory of the history we made together and you will have the life-long appreciation of a grateful president. Thank you for believing all the way, through every hill, through every valley.
    (APPLAUSE)
    You lifted me up the whole way and I will always be grateful for everything that you’ve done and all the incredible work that you put in.
    (APPLAUSE)
    I know that political campaigns can sometimes seem small, even silly. And that provides plenty of fodder for the cynics that tell us that politics is nothing more than a contest of egos or the domain of special interests. But if you ever get the chance to talk to folks who turned out at our rallies and crowded along a rope line in a high school gym, or saw folks working late in a campaign office in some tiny county far away from home, you’ll discover something else.
    OBAMA: You’ll hear the determination in the voice of a young field organizer who’s working his way through college and wants to make sure every child has that same opportunity.
    (APPLAUSE)
    You’ll hear the pride in the voice of a volunteer who’s going door to door because her brother was finally hired when the local auto plant added another shift.
    (APPLAUSE)
    You’ll hear the deep patriotism in the voice of a military spouse whose working the phones late at night to make sure that no one who fights for this country ever has to fight for a job or a roof over their head when they come home.
    (APPLAUSE)
    That’s why we do this. That’s what politics can be. That’s why elections matter. It’s not small, it’s big. It’s important. Democracy in a nation of 300 million can be noisy and messy and complicated. We have our own opinions. Each of us has deeply held beliefs. And when we go through tough times, when we make big decisions as a country, it necessarily stirs passions, stirs up controversy.
    That won’t change after tonight, and it shouldn’t. These arguments we have are a mark of our liberty. We can never forget that as we speak people in distant nations are risking their lives right now just for a chance to argue about the issues that matter, the chance to cast their ballots like we did today.
    (APPLAUSE)
    But despite all our differences, most of us share certain hopes for America’s future. We want our kids to grow up in a country where they have access to the best schools and the best teachers.

    (APPLAUSE)
    A country that lives up to its legacy as the global leader in technology and discovery and innovation, with all the good jobs and new businesses that follow.
    OBAMA: We want our children to live in an America that isn’t burdened by debt, that isn’t weakened by inequality, that isn’t threatened by the destructive power of a warming planet.
    (APPLAUSE)
    We want to pass on a country that’s safe and respected and admired around the world, a nation that is defended by the strongest military on earth and the best troops this — this world has ever known.
    (APPLAUSE)
    But also a country that moves with confidence beyond this time of war, to shape a peace that is built on the promise of freedom and dignity for every human being. We believe in a generous America, in a compassionate America, in a tolerant America, open to the dreams of an immigrant’s daughter who studies in our schools and pledges to our flag.
    To the young boy on the south side of Chicago who sees a life beyond the nearest street corner.
    (APPLAUSE)
    To the furniture worker’s child in North Carolina who wants to become a doctor or a scientist, an engineer or an entrepreneur, a diplomat or even a president — that’s the future we hope for. That’s the vision we share. That’s where we need to go — forward.
    (APPLAUSE)
    That’s where we need to go.
    Now, we will disagree, sometimes fiercely, about how to get there. As it has for more than two centuries, progress will come in fits and starts. It’s not always a straight line. It’s not always a smooth path.
    By itself, the recognition that we have common hopes and dreams won’t end all the gridlock or solve all our problems or substitute for the painstaking work of building consensus and making the difficult compromises needed to move this country forward. But that common bond is where we must begin. Our economy is recovering. A decade of war is ending. A long campaign is now over.
    (APPLAUSE)

    And whether I earned your vote or not, I have listened to you, I have learned from you, and you’ve made me a better president. And with your stories and your struggles, I return to the White House more determined and more inspired than ever about the work there is to do and the future that lies ahead.
    (APPLAUSE)
    Tonight you voted for action, not politics as usual.
    (APPLAUSE)
    You elected us to focus on your jobs, not ours. And in the coming weeks and months, I am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together. Reducing our deficit. Reforming our tax code. Fixing our immigration system. Freeing ourselves from foreign oil. We’ve got more work to do.
    (APPLAUSE)
    OBAMA: But that doesn’t mean your work is done. The role of citizens in our Democracy does not end with your vote. America’s never been about what can be done for us. It’s about what can be done by us together through the hard and frustrating, but necessary work of self-government. That’s the principle we were founded on.
    (APPLAUSE)
    This country has more wealth than any nation, but that’s not what makes us rich. We have the most powerful military in history, but that’s not what makes us strong. Our university, our culture are all the envy of the world, but that’s not what keeps the world coming to our shores.
    What makes America exceptional are the bonds that hold together the most diverse nation on earth.
    OBAMA: The belief that our destiny is shared; that this country only works when we accept certain obligations to one another and to future generations. The freedom which so many Americans have fought for and died for come with responsibilities as well as rights. And among those are love and charity and duty and patriotism. That’s what makes America great.
    (APPLAUSE)
    I am hopeful tonight because I’ve seen the spirit at work in America. I’ve seen it in the family business whose owners would rather cut their own pay than lay off their neighbors, and in the workers who would rather cut back their hours than see a friend lose a job.
    I’ve seen it in the soldiers who reenlist after losing a limb and in those SEALs who charged up the stairs into darkness and danger because they knew there was a buddy behind them watching their back.
    (APPLAUSE)
    I’ve seen it on the shores of New Jersey and New York, where leaders from every party and level of government have swept aside their differences to help a community rebuild from the wreckage of a terrible storm.
    (APPLAUSE)
    And I saw just the other day, in Mentor, Ohio, where a father told the story of his 8-year-old daughter, whose long battle with leukemia nearly cost their family everything had it not been for health care reform passing just a few months before the insurance company was about to stop paying for her care.
    (APPLAUSE)
    I had an opportunity to not just talk to the father, but meet this incredible daughter of his. And when he spoke to the crowd listening to that father’s story, every parent in that room had tears in their eyes, because we knew that little girl could be our own.
    And I know that every American wants her future to be just as bright. That’s who we are. That’s the country I’m so proud to lead as your president.
    (APPLAUSE)
    OBAMA: And tonight, despite all the hardship we’ve been through, despite all the frustrations of Washington, I’ve never been more hopeful about our future.
    (APPLAUSE)
    I have never been more hopeful about America. And I ask you to sustain that hope. I’m not talking about blind optimism, the kind of hope that just ignores the enormity of the tasks ahead or the roadblocks that stand in our path. I’m not talking about the wishful idealism that allows us to just sit on the sidelines or shirk from a fight.
    I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting.
    (APPLAUSE)
    America, I believe we can build on the progress we’ve made and continue to fight for new jobs and new opportunity and new security for the middle class. I believe we can keep the promise of our founders, the idea that if you’re willing to work hard, it doesn’t matter who you are or where you come from or what you look like or where you love. It doesn’t matter whether you’re black or white or Hispanic or Asian or Native American or young or old or rich or poor, able, disabled, gay or straight, you can make it here in America if you’re willing to try.
    (APPLAUSE)

    I believe we can seize this future together because we are not as divided as our politics suggests. We’re not as cynical as the pundits believe. We are greater than the sum of our individual ambitions, and we remain more than a collection of red states and blue states. We are and forever will be the United States of America.
    (APPLAUSE)
    And together with your help and God’s grace we will continue our journey forward and remind the world just why it is that we live in the greatest nation on Earth.
    Thank you, America. God bless you. God bless these United States.
    (APPLAUSE)

     

    Culled from www.washingtonpost.com

  • Mitt Romney’s concession speech

    Mitt Romney’s concession speech

    ROMNEY: Thank you. Thank you. Thank you. Thank you, my friends. Thank you so very much.

    (APPLAUSE)

    Thank you. Thank you. Thank you.

    I have just called President Obama to congratulate him on his victory. His supporters and his campaign also deserve congratulations.

    ROMNEY: His supporters and his campaign also deserve congratulations. I wish all of them well, but particularly the president, the first lady and their daughters.

    (APPLAUSE)

    This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation.

    (APPLAUSE)

    ROMNEY: I want to thank Paul Ryan for all that he has done for our campaign.

    (APPLAUSE)

    And for our country. Besides my wife, Ann, Paul is the best choice I’ve ever made.

    (APPLAUSE)

    And I trust that his intellect and his hard work and his commitment to principle will continue to contribute to the good of our nation.

    (APPLAUSE)

    I also want to thank Ann, the love of my life.

    (APPLAUSE)

    ROMNEY: She would have been a wonderful first lady. She’s — she has been that and more to me and to our family and to the many people that she has touched with her compassion and her care.

    I thank my sons for their tireless work on behalf of the campaign, and thank their wives and children for taking up the slack as their husbands and dads have spent so many weeks away from home.

    (APPLAUSE)

    I want to thank Matt Rhoades and the dedicated campaign team he led.

    (APPLAUSE)

    They have made an extraordinary effort not just for me, but also for the country that we love.

    And to you here tonight, and to the team across the country — the volunteers, the fundraisers, the donors, the surrogates — I don’t believe that there’s ever been an effort in our party that can compare with what you have done over these past years. Thank you so very much.

    Thanks for all the hours of work, for the calls, for the speeches and appearances, for the resources and for the prayers. You gave deeply from yourselves and performed magnificently. And you inspired us and you humbled us. You’ve been the very best we could have imagined.

    ROMNEY: The nation, as you know, is at a critical point. At a time like this, we can’t risk partisan bickering and political posturing. Our leaders have to reach across the aisle to do the people’s work.

    And we citizens also have to rise to the occasion. We look to our teachers and professors, we count on you not just to teach, but to inspire our children with a passion for learning and discovery.

    We look to our pastors and priests and rabbis and counselors of all kinds to testify of the enduring principles upon which our society is built: honesty, charity, integrity and family.

    We look to our parents, for in the final analysis everything depends on the success of our homes.

    ROMNEY: We look to job creators of all kinds. We’re counting on you to invest, to hire, to step forward.

    And we look to Democrats and Republicans in government at all levels to put the people before the politics.

    I believe in America. I believe in the people of America.

    (APPLAUSE)

    And I ran for office because I’m concerned about America. This election is over, but our principles endure. I believe that the principles upon which this nation was founded are the only sure guide to a resurgent economy and to renewed greatness.

    Like so many of you, Paul and I have left everything on the field. We have given our all to this campaign.

    (APPLAUSE)

    I so wish — I so wish that I had been able to fulfill your hopes to lead the country in a different direction, but the nation chose another leader. And so Ann and I join with you to earnestly pray for him and for this great nation.

    Thank you, and God bless America. You guys are the best. Thank you so much. Thank you. Thanks, guys.

    (APPLAUSE)

  • Lagosians cry out as fuel scarcity bites harder

    Lagosians cry out as fuel scarcity bites harder

    A typical day in the city of Lagos is one with a lot of hustle and bustle, noise, and endless traffic. Lagosians are always whining about the irritating condition of traffic in the city. Well, that’s a typical day, what about a non typical day?

    Well, it’s a not a typical day in the city of Lagos anymore, as fuel price takes a hike. The welfare of individuals are terribly affected, as well as businesses.

    “It’s been so crazy, for like a month now I’ve not taken my car out. My full tank is normally N6, 000, now that N6, 000k only gets me 40litres. I have been taking BRT to work and it’s telling on my health because it’s not what I’m used to. The price of everything goes up due to the fuel hike.” Laments Pekun, a Lagosian. “I get home really late. My sleep is short, plus transportation fare is double the normal price. I can’t save much anymore,” he added.

    I caught up with Abel, a student of UNILAG on a bus to Bariga. When asked what his experience had been so far with the current fuel hike, he replied, “Oh!..simple. Increased transport fares on buses and bikes. It has been depressing going out. And then Fashola had to ban bikes.

    Well, other Lagosians didn’t keep their replies that simple when the same question was thrown at them. They were furious about the present predicament of the nation, and had a lot of criticism for the government as well as the citizens.

    “Well for me, I think Nigerians are to be blamed. If we had allowed the removal of subsidy then, the government would at this time, have no excuse for not providing the commodity. But now, we have fuel selling for as much as N130 in some parts of the country, what’s the difference between N130 and N141?

    We all get comfortable easily in this country… We never follow any agitation to a fruitful end. Once we make noise a few days, we just shrink into our shells and move on with the status quo,” said Hezekiah, a public relation consultant.

    He continued, “Jonathan will not do everything for us, it’s high time we started thinking of alternative energy. That’s what most countries are doing now. Everything is not done by the government, private sector handles all these research and sells their theories to government. We in Nigeria will sit down and wait for government to research for us. An incompetent government for that matter.”

    Well, what more can possibly be said of a country which cannot harness its own resources adequately. We own crude, yet it is a scarce and expensive commodity for us. What a shame! Speaking from personal experience and observation, the traffic in the city of Lagos is worse than ever. I spent an hour in traffic on my way to work yesterday. Going back home was worse, not to mention, the bus fare was twice its normal sum.

    Filling stations were packed jam. And one could say the queue was on a standstill. It was both a pathetic and annoying sight. People who can’t afford the increased fare, has resorted to trekking. Let’s face it, it’s not like salaries were increased. So, at the end of the day, it’s a lose – lose situation for the Nigerian citizen. When will all this end? If ever it will.

     

  • The strength of women

    The strength of women

    “So amazing how this world was made, I wonder if God is a woman …” reads the first line of Shaggys 2003 hit single, ‘the strength of a woman’. That song remains an all time favourite of mine, and am certain of a lot of women too, if not all.

    However, God is a not a woman. But the ‘Father’ has imbued in women that inner strength and willpower that had enable us to achieve things that are sometimes beyond our imagination.

    Being a woman is not an easy task by any means. Not only because every month we have to deal with the grueling pain of our reproductive systems saying, “Hey, I’m alive and kicking!” Or having to carry another human being in us for nine months, not to mention the excruciating labour pains. But we also are constantly striving in the battle for acceptance.

    We see it on television, in magazines, and in society. The “ideal” look. How skinny we’re “supposed” to be, but how it’s disgusting if we get too skinny. And how we’re expected to have huge breasts and voluptuous rear-ends while achieving the toothpick look.

    Women are artists. We love to decorate, create, makeover, and rebuild a lot of things in life.

    A woman would date a man that is bad simply because she sees him as a project, as well as a lover. Our maternal instincts always get the better of us and we feel we can change the world and help everybody. Actually, we can and we do.

    A few days ago, I woke up with severe menstrual cramps, I tossed, turned, groaned and writhed in pains on my bed. Getting up almost every minute to visit the loo, trust me, it wasn’t funny.

    Soon, anger crept in as it became clear that I was going to miss work as a result of the damned cramp, but more because I had chores to carry out. Let me chip in here that I live with my uncle, a man in whose dictionary the word ‘excuse’ do not exist.

    So I crawled out of bed and dragged myself to the kitchen. I washed, cleaned, mopped and scrubbed, half bent the whole time like an old woman and sitting at intervals.

    Frankly, all I wanted to do at that time was lie on my bed, door shut behind me and pull all the stunts that only cramps give the ability to, but I dare not. I finished my chores and went ahead to prepare my uncles meal for when he gets back from work. Hmmmph! Tell me I’m not strong.

    This reminds me of an occurrence in my home some eight years ago. We all just returned from a trip, my family and I. I remember falling on the first couch in sight as we entered our home.

    We were all fatigued from the long journey, but apparently my dad didn’t put that into consideration as the first thing he did was to ask my mum to prepare food. Huh!? Really?

     

    He had to eat, I know. Actually, we all had to ’cause we were all hungry. But dad give mum a break. At least he should have let the woman take off her clothes. How inconsiderate. Funny thing was, my dear mother had swung into action by the time he finished his sentence. Now that’s a woman.

    We are warriors, strong and brave. Guardians, resourceful, and daring. We give and live our lives for the one’s we love. God fashioned us that way, and it takes great courage to do that.

    We adapt to and overcome almost every situation. While being fierce and strong, we also strive to maintain our soft looks. A womans strength nutures, and preserves.

    Our innate strength is creative, not destructive. It’s a life-giving force. No wonder Beyonce did that song ‘run the world’. A lot of men will openly dispute and criticize her, but deep inside, they agree to the message behind the lyrics of that song.

    We may not run the world in the literal sense of the word or phase, but we do play an indispensable role .

    The last verse of Shaggys song reads, “Tender lips that’s so so sweet

    Gentle words she softly speaks

    Such an angel when we need

    GOD bless the ground beneath her feet

    She can take you on a high

    Be your comfort when you cry

    But if you look into her eyes

    You’ll see the strength of a woman …”

    Need I say more? That’s a man pouring his heart out on the strength of a woman. If you’re a woman reading this, stand tall and proud. Walk with your head held high because you’re a force, a life-giving force.

     

     

     

     

     

  • President Jonathan’s 2013 Budget Speech

    President Jonathan’s 2013 Budget Speech

    “Fiscal Consolidation with Inclusive Growth”

    Delivered by: His Excellency Goodluck Ebele Jonathan, GCFR President, Federal Republic of Nigeria

     

    Before: A Joint Session of the National Assembly, Abuja on Wednesday, 10th October 2012

    1. It is my pleasure and honour to present the 2013 Federal Budget

    Proposal before this esteemed Joint Session of the National Assembly.

    I am particularly delighted to present this Proposal to you earlier in

    the year, and soon after the commemoration of our national

    independence, to signal our commitment to evolving a new Nigeria. This

    Proposal is the product of extensive consultations with key

    stakeholders and would further translate the Government’s development

    plans into concrete actions.

     

    2. When I presented the 2012 Budget, you will recall, I emphasized the

    fact that it would be “a stepping-stone to the transformation of our

    economy and country in our walk to economic freedom …”. I am glad to

    report that we have made progress in this regard. Today, in the face

    of critical resource constraints, the defining moment of our work is

    in actualizing our promises to Nigerians. We need to create a

    structured economy where everybody plays by the same rules, and

    contributes their fair bit. That is the Nigeria our heroes past craved

    for; that is the Nigeria we believe in; and that is the Nigeria we are

    building together.

     

    GLOBAL ECONOMIC DEVELOPMENTS

    3. As we build this nation and walk the path of development, we must

    be mindful of the realities of our circumstances and those of the

    changing global economy. This Budget Proposal was therefore designed

    against the backdrop of global economic uncertainty. By the end of the

    second quarter of this year, the global economy was recovering but at

    a very slow pace. Growth in a number of major emerging market

    economies, has been lower than forecast. Overall, global growth is

    projected at 3.3% in 2012 and 3.6% in 2013.

     

    4. The uncertainty surrounding the global economy, which could have

    adverse effects on commodity prices, highlights the downside risks for

    our economy. The oil market is well known for its volatility. We

    recall the 2008 experience at the height of the global economic

    downturn when oil prices fell almost overnight from $147 per barrel to

    $38 per barrel. This threat of oil price volatility remains constant

    and underscores the need to rely on a robust and prudent methodology

    to estimate the benchmark price.

     

    5. The global economic slowdown can also have far-reaching

    implications for the demand for our export commodities, given that the

    Euro zone and the USA account for over 50% of the nation’s crude oil

    exports. These global developments are also being transmitted to our

    economy through a dampening effect on foreign capital inflows and

    remittances by Diaspora Nigerians. Fellow Nigerians, these are

    uncertain times in the world economy, and my Administration is taking

    necessary steps to mitigate possible adverse effects of the global

    economic slowdown on Nigeria. I assure you that we are going to build

    up the necessary savings to protect the economy against a possible

    global recession or a slow recovery.

    DEVELOPMENTS IN THE DOMESTIC ENVIRONMENT

    6. In spite of the foregoing, our economy has done relatively well.

    Over the past nine months, through a number of initiatives, we have

    created new jobs directly and supported many young entrepreneurs

    running SMEs to create jobs. Nigeria is looking to become more

    self-reliant again in food security, and we are increasing local

    content in our manufacturing processes and the oil and gas sector.

    7. As at the end of the second quarter, the economy recorded an

    impressive growth of 6.28% compared to 5.4% forecast for sub-Saharan

    Africa. It is gratifying to note that the non-oil sector remains the

    main driver of growth. There are also improvements in other

    macroeconomic indicators. Inflation has dropped from 12.9% in June

    2012 to 11.7% in August 2012, and our goal is to reduce it further.

    Our foreign reserves now stand at US$41.6 billion – the highest it has

    been in over 2 years. We intend to continue with our programme of

    fiscal discipline and prudent monetary policy in order to continue to

    improve our country’s macroeconomic environment.

     

    8. Furthermore, in addition to being upgraded last year by Fitch and

    S&P rating agencies, Nigeria has now been included in the JP Morgan

    Emerging Markets Bond Index, signifying increasing investor confidence

    in our economy. In addition, the World Economic Forum has upgraded our

    ranking from 127 to 115 in the global competitiveness index.

    9. Here in Nigeria, we do not join the debate on fiscal consolidation

    versus growth because we believe in the need to do both; hence, we are

    continuing our focus of fiscal consolidation with inclusive growth.

    The fiscal consolidation policy has helped to strengthen our finances

    with a programmed budget deficit of about 2.85% of GDP in 2012, now

    projected to drop to 2.17% in 2013. Moreover, the share of capital

    expenditure in the total budget is increasing as we gradually reduce

    recurrent expenditures and also develop non-oil revenue sources.

    REVIEW OF THE 2012 BUDGET IMPLEMENTATION

    10. Fellow Compatriots, the 2012 Budget was focused on achieving

    Fiscal Consolidation with Inclusive Growth using the budget balance as

    a fiscal anchor. In that respect, while investing in key priorities,

    the budget also ensured that the deficit followed a downward trend

    over the medium term. This is being done through a more aggressive

    revenue collection drive and prudent management of available

    resources.

     

    11. On the expenditure side, the implementation of the 2012 Budget is

    on track, having commenced effectively in April when it became law. We

    have so far released N711.6 billion to MDAs for the implementation of

    their capital budgets while further releases are to follow shortly for

    the fourth quarter. The continued implementation of the 2011 capital

    budget in the first quarter of 2012, clearly affected the

    implementation of the 2012 Budget.

     

    12. I have taken a personal interest in the budget implementation

    since May by chairing weekly sessions with Ministers and Heads of

    parastatals on their progress in this regard. We are determined to use

    the instrument of the budget to improve the welfare of Nigerians. You

    would recall my assurance to Nigerians that subsequent budgets will be

    presented earlier to the National Assembly. It is in this spirit that

    I lay this Proposal before this Assembly today, to give sufficient

    time for deliberation on the Proposal and approval of the budget, and

    to enable us commence implementation from January 1st 2013.

    13. Let me stress that Government remains focused on the tangible

    outcomes from the implementation of the Appropriation Acts, not just

    the amounts spent. In this respect, I have signed Performance

    Agreement Contracts with my Ministers with a view to ensuring delivery

    of projects and programmes in their respective budgets. The Ministers

    in turn, are signing similar agreements with their Permanent

    Secretaries, Heads of parastatals and Directors to cascade down the

    need for responsibility and accountability. Key government officials

    with responsibility for implementing different aspects of the budget

    will be appraised based on these performance agreements. My goal is to

    ensure optimal implementation of our annual budgets.

     

    14. Government is also determined to reduce the cost of governance. We

    are reviewing the recommendations aimed at rationalizing Agencies of

    the Federal Government with overlapping functions. This has been taken

    into account in the preparation of the 2013 Budget, and we expect some

    modest cost savings from this exercise in the course of the 2013

    fiscal year. However, more significant progress will be made in 2014,

    as we work with the Legislature to harmonise those Agencies that have

    enabling laws, but which also have duplicative mandates.

    Subsidy Reinvestments and Empowerment Programme (SURE-P)

    15. You will recall that we had assured Nigerians that the proceeds of

    the partial withdrawal of petroleum subsidies will be applied to

    implementing the Subsidy Reinvestment Programme (SURE-P). The

    implementation of this programme is continuing over the medium-term.

     

    16. In the 2012 fiscal year, we had voted N180 billion for the

    implementation of social safety net programmes, road and rail

    infrastructure projects. So far, N36.5 billion of this amount has been

    utilized to support maternal and child health programmes as well as

    mass transit, roads and rail projects and job creation through the

    Community Services and Public Works programme. The SURE-P Board under

    the able chairmanship of Dr. Christopher Kolade is presently working

    hard to ensure the successful oversight of the implementation of this

    programme. We are grateful to them for their hard work and patriotism.

     

    KEY ACHIEVEMENTS IN THE 2012 FISCAL YEAR

    17. In the 2012 Budget, Government outlined some projects and

    programmes that were to be implemented in key sectors of the economy

    in order to improve the livelihood of Nigerians. We have numerous

    activities in various sectors such as: Power, Health, Agriculture,

    Education, Housing, Transport, Aviation, etc. Let me highlight a few

    of these sectors.

     

    Power

    18. The Power Sector Reform is on course. Our efforts have begun to

    pay off as we have improved power supply to various parts of the

    country. Our gas-to-power and other initiatives are making this

    possible, but I acknowledge the fact that we still have a long way to

    go. As you may be aware, the ongoing privatisation of the generation

    and distribution companies has reached an advanced stage. In some

    cases, Preferred Bidders have already emerged. When completed, the

    programme will bring into the sector significant private investment,

    along with the requisite power output.

     

    19. We have accomplished a number of goals in the Power sector reform

    programme in line with the Roadmap, including:

    a. Completion of new units at our thermal power stations, to increase

    generation;

    b. Rehabilitation of existing power infrastructure, which has yielded

    up to 1,000 mega watts of additional electricity;

    c. Fast-Tracking 3 NIPP projects, which will bring an additional 1,055

    mega watts by the end of the year; and

    d. Facilitating a power and gas financing package, which includes

    Government Guarantees, proposed Infrastructure Bonds of about

    $1billion, and $150 million of external funding from the African

    Development Bank to support continued gas supply and the

    liberalization of the power sector.

     

    Agriculture

    20. My Administration has instituted key policy reforms to establish

    staple crop processing zones aimed at attracting the private sector

    into areas of high production, reducing post-harvest losses, and

    adding value to locally produced commodities. So far we have succeeded

    in attracting $7.8 billion investment commitments to the agricultural

    sector. These investments and the value chain approach being used to

    transform the sector have the capacity to create 3.5 million

    additional jobs in the medium term by 2015.

     

    • You will recall that Government provided incentives to support

    cassava value chains, including zero duty on machinery and equipment

    to process high quality cassava flour. Cassava bread is increasingly

    commercially available with 20% cassava flour content. In addition, a

    total of one million metric tonnes of dried cassava chips, are being

    exported to China this year.

     

    • Achieving self-sufficiency in rice production in 2015 remains our

    target. In response to our new fiscal measures, 13 new private sector

    rice mills with a capacity of about 240,000 metric tonnes have been

    established. These mills buy and process local paddy and create

    employment for Nigerians.

     

    Housing

    21. Fellow Nigerians, the provision of affordable housing is one of

    the Administration’s strategic imperatives for guaranteeing our

    citizens’ productivity and well-being. We are creating an enabling

    environment for the private sector to produce much needed housing,

    whilst creating jobs in the process. To facilitate this, I will be

    holding a presidential retreat on Housing in early November, to

    discuss policy and modalities for dealing with land titling issues,

    developing an affordable mortgage finance system and reducing the high

    cost of housing construction.

     

    22. In the meantime, under various social housing programmes, close to

    2,000 housing units have been completed, while over 24,000 housing

    units are at various stages of completion. This is outside housing

    being constructed for the use of the Armed Forces and Paramilitary

    services. The Federal Government has entered into Partnership

    Agreements with several States for the provision of 6,000 housing

    units. Another 600 housing units have already been completed under the

    direct construction scheme of the Federal Housing Authority in these

    States. Gradually, we are ensuring that more Nigerians enjoy the

    benefits of having their own homes.

     

    Transport

    23. You are already familiar with the improvement in the functioning

    of our ports, the details of which I provided in my 52nd Independence

    Anniversary Speech. With regard to Rail transport, in our continuing

    effort to boost infrastructure development in the country, work is

    ongoing to rehabilitate the rail system across the country. These

    include the Lagos-Kano line as well as the Port Harcourt-Maiduguri

    line. Our people have started enjoying rail service again.

     

    24. Our railway modernisation programme is progressing with the

    Abuja-Kaduna line now at 46% completion, while work on the

    Lagos-Ibadan line is to commence soon. We also expect to complete the

    Itakpe-Ajaokuta-Warri line in 2013. In the same vein, we are

    fast-tracking the implementation of the mass transit Abuja Light Rail

    system. When completed, it will improve transportation for all

    residents in the FCT, especially workers living in the satellite

    towns.

     

    25. Inland Waterways: Our inland waterways programme is on track to

    boost commerce in the surrounding communities, and I had the pleasure

    of commissioning the Onitsha Inland Port on 30th August 2012.

     

    Aviation

    26. We are working hard to improve the regulatory regime and safety of

    the Aviation sector and will continue to look for ways to support its

    development. This Administration identifies this sector as a key part

    of the Transformation Agenda. As such, we have embarked on a

    comprehensive programme to transform our airports to world-class

    standards and improve air travel safety standards across the country.

    27. For instance, the remodelling of airport terminals and the

    upgrading of airport runways are presently at advanced stages of

    implementation across virtually all our airports. In addition, we have

    just concluded arrangements to commence the construction of five brand

    new terminals in Kano, Port Harcourt, Lagos, Abuja and Enugu, and six

    perishable cargo terminals, early next year. In line with

    international best practice, these new terminals will be private

    sector-managed.

     

    28. Roads: We know that Nigerians are disturbed about the state of our

    major highways. We are addressing this issue frontally. With the rains

    receding, the Ministry of Works will intensify the construction and

    rehabilitation of major roads in the country, for example, the

    dualization of the Abuja-Lokoja road, the Benin-Ore-Shagamu road, and

    the Kano-Maiduguri road. Also, the Enugu-Port-Harcourt road

    rehabilitation has been awarded to four contractors in order to

    fast-track its completion. It is gratifying to note that resources

    from the Petroleum Subsidy Reinvestment Programme are being used to

    supplement the regular budget for these projects.

     

    The Petroleum Sector

    29. The petroleum sector continues to play a crucial role in our

    economy, even as we seek diversification. In this regard, we are

    taking steps to modernise the sector. A robust Petroleum Industry Bill

    (PIB) has been delivered as promised to the National Assembly for

    consideration. When passed into law, the Bill will provide the new

    legal framework that will govern Nigeria’s Oil and Gas industry. This

    Bill, which encompasses major reforms, will encourage additional

    investments in the sector, create accountability and transparency, and

    ensure that the management of our petroleum sector is commercially

    driven.

     

    30. Our gas to power initiatives are moving firmly ahead, with the

    12-month gas supply emergency plan already yielding more than the

    targeted volumes of gas for power generation.

     

    31. With respect to the Petroleum Subsidy Programme, Government is

    succeeding in substantially cleaning up the management of the

    petroleum subsidy regime. We are tightening up the payment regime, to

    weed out corruption while working hard to recover monies fraudulently

    obtained from the subsidy regime. The EFCC is prosecuting those found

    wanting and the efforts to crack down on corruption in this sector

    will continue.

     

    32. On Frontier Exploration, the Government’s drive to build up the

    nation’s oil reserves through exploration of new frontiers for oil and

    gas production is beginning to yield results with news of the

    discovery of crude oil in some inland sedimentary basins in the

    country. These include the Chad Basin, Benue Trough, Yola Basin and

    Anambra Basin amongst others. We are determined to further develop on

    these findings and expand the scope of such explorations. To support

    this, we have raised the provision for frontier exploration services

    from N12 billion in 2012 to N16 billion in 2013.

     

    Job Creation

    33. Fellow Compatriots, in spite of the economic growth noted earlier,

    it is clear that as a nation, we still face economic disparities

    across the country. This constitutes an obstacle to sustainable

    development as it limits improvement in living standards, output and

    social cohesion which are key factors for achieving inclusive growth.

    Our challenge therefore, transcends how to achieve growth. Our

    objective is to achieve inclusive growth by identifying and developing

    job creation opportunities. We have mentioned the 3.5 million jobs we

    aim to create in agriculture and more jobs in the housing and

    construction sectors, solid minerals sector, aviation and the creative

    industry.

     

    34. In my Independence Day Speech, I spoke of the 80,000-110,000 jobs

    we are supporting young entrepreneurs to create through the YouWin

    programme. We have received numerous testimonies from young men and

    women who have been able to expand their businesses through the

    programme. We have just launched a second round of the competition

    targeting only women entrepreneurs. Across the country, our youth are

    developing new ideas and enterprises, and we must support them.

     

    35. I launched the Community Service, Women and Youth Empowerment

    Programme (CSWYEP) under the SURE-P in February 2012. This is now

    working in pilot phase in 14 states, and to be replicated in other

    states in 2 weeks. We also have the Graduate Internship Programme, in

    which participating private companies provide one-year internships to

    50,000 graduates, paid by the Federal Government. So far, 700 firms,

    and 20,000 young graduates have applied to participate in this scheme.

     

    36. Fellow Nigerians, even as we review our achievements in 2012, we

    are also conscious of the unprecedented floods, which have ravaged

    many parts of our country, displacing tens of thousands of fellow

    Nigerians, and causing massive destruction of property, farmlands, and

    infrastructure across the country. My heartfelt sympathy goes to the

    affected families and communities.

     

    37. Yesterday, I made a broadcast on the Federal Government’s actions

    to deal with the situation. I authorized the disbursement of N17.6

    billion to States and MDAs to help bring succour to our fellow

    citizens affected by the floods. This will complement ongoing efforts

    by Federal and State agencies, and private initiatives.

     

    38. A Presidential Technical Committee to properly assess the extent

    of the impact, and propose a rehabilitation strategy, has submitted an

    Interim Report and is continuing to visit all the affected

    communities. I have also set up a National Committee on Flood Relief

    and Rehabilitation to assist the Federal Government to raise funds to

    mitigate the pains and ensure effective post-impact rehabilitation of

    victims.

     

    39. I have also directed that the Ministry of Agriculture and Rural

    Development put in place a flood recovery food production plan. This

    will include the provision of early maturing varieties of maize, which

    mature in 60 days, to several flood affected areas. In addition,

    flood-tolerant rice varieties are being procured for flooded rice

    growing areas. We will also accelerate dry season production of major

    food crops.

     

    Security

    40. Fellow Compatriots, we are conscious of the fact that without

    security, no meaningful development can take place in our land; and

    our collective efforts at building the nation would only amount to

    little. This is why we channelled a great deal of resources to

    security in the 2012 Budget. We remain conscious of the impact of

    security challenges facing the country and are determined to bring the

    situation under control.

     

    41. I commiserate with all our citizens who lost loved ones in the

    recent Mubi killings and all the other acts of senseless destruction

    of lives and properties in the country. We have already made arrests

    in the Mubi case, and I want to assure Nigerians that all the culprits

    will be made to face the full weight of the law. I want to thank our

    brave men and women of the security services for their commitment. I

    also want to acknowledge and thank the various state Governors for

    their cooperation and untiring effort to ensure peace in their

    domains. The unity of Nigeria is not negotiable

     

    THEME OF THE 2013 BUDGET

    Theme

    42. Distinguished Ladies and Gentlemen, you will recall that in

    furtherance of my Administration’s efforts to transform our economy,

    the 2012 Budget was established on four main pillars – Macroeconomic

    stability; Structural reforms; Governance & institutions; and

    Investing in priority sectors. The 2013 Budget promotes continuity of

    these pillars and is designed with the theme: fiscal consolidation

    with inclusive growth. We will remain prudent with our fiscal

    resources but also ensure that the Nigerian economy keeps growing and

    creating jobs. To this end, the government will continue with the

    medium-term theme and interventions that are consistent with the

    objectives of the Transformation Agenda.

     

    Macroeconomic Stability

    43. One key plank upon which our economic transformation is based is

    the achievement of macroeconomic stability. My Administration has made

    significant progress in putting the finances of the nation on a sound

    footing and laying the foundation for rapid and sustainable growth. We

    will stay focused on maintaining macroeconomic stability in Nigeria.

     

    Budget Structure

    44. Now let me turn to the structure of the 2013 Budget. In recent

    years, recurrent expenditure has tended to crowd out capital

    expenditure in the national budget. Over the 2013-2015 medium-term, my

    Administration will continue to implement measures aimed at correcting

    this imbalance in the budget structure in a viable and sustainable

    manner.

     

    45. In the 2012 Budget speech, I noted that Government was going to

    focus on cutting recurrent expenditure to sustainable levels through

    reduction of waste, corruption and duplication in the functions of

    government agencies. In this respect, the biometric verification of

    employees is being extended to all agencies of Government, while the

    process for rationalizing public agencies and reducing duplication of

    mandates among different government agencies has begun, following the

    Report of the Oronsaye Committee.

     

    46. I am therefore pleased to announce that the share of recurrent

    spending in aggregate expenditure is set to further reduce from 71.47%

    in 2012 to 68.7% in the 2013 Budget, while capital expenditure as a

    share of aggregate spending is set to increase from 28.53% in 2012 to

    31.3% in 2013.

     

    Public Debt Management

     

    47. Government will continue to exercise fiscal prudence and limit its

    borrowing requirements in compliance with the Fiscal Responsibility

    Act, 2007. Consequently, we have developed a responsible domestic debt

    management strategy that, for the first time, seeks to start paying

    off our domestic debt rather than rolling it over. In this respect, a

    sinking fund of N100 billion is being established in the 2013 fiscal

    year to be used for repaying Government’s maturing debt obligations

    and to curb the rising domestic debt profile. We have further reduced

    our annual domestic borrowing from N852 billion in 2011, N744 billion

    in 2012, and to N727 billion in 2013.

     

    THE 2013 BUDGET

    48. The 2013 Budget is underpinned by the following parameters which

    reflect Government’s prudent economic policies in an uncertain global

    economic environment:

     

    • Oil production of 2.53 million barrels per day, up from 2.48 million

    barrels per day for 2012.

    • Benchmark oil price of US$75/barrel, a modest increase from the

    US$72/barrel approved in the 2012 Budget. This benchmark price is

    based on a well established econometric methodology of estimating oil

    price moving averages.

    • Projected GDP growth rate which is now estimated at 6.5% compared to

    6.85% in the Fiscal Strategy Paper. The revision is underpinned by the

    fact that the severe floods experienced over large parts of the

    country are expected to impact on economic activity in 2013,

    especially agriculture. However, the growth prospects may improve with

    the plan to boost dry season farming.

     

    Revenue

     

    49. Based on these assumptions, the gross federally collectible

    revenue is projected at N10.84 trillion, of which the total revenue

    available for the Federal Government’s Budget is forecast at N3.89

    trillion, representing an increase of about 9% over the estimate for

    2012. Non-oil revenue is projected to continue to grow in 2013 as the

    ongoing reforms in our revenue collecting agencies, and the

    implementation of initiatives to further develop the non-oil sector

    continue to yield results.

     

    Expenditure Proposals

    50. An aggregate expenditure of N4.92 trillion is proposed for the

    main budget of the 2013 fiscal year, representing a modest increase of

    about 5% over the N4.7 trillion appropriated for 2012. This is made up

    of N380.02 billion for Statutory Transfers, N591.76 billion for Debt

    Service, N2.41 trillion for Recurrent (Non-Debt) Expenditure and N1.54

    trillion for Capital Expenditure.

     

    51. Based on the above, the fiscal deficit is projected to improve to

    about 2.17% of GDP in the 2013 Budget compared to 2.85% in 2012. This

    is well within the threshold stipulated in the Fiscal Responsibility

    Act, 2007 and clearly highlights our commitment to fiscal prudence. We

    are determined to further rein in domestic borrowing, and this way,

    ensure that our debt stock remains at a sustainable level.

     

    52. Our focus on critical economic and social sectors continues. Some

    of these sectors are largely driven by private sector activity, while

    others require a great deal of public sector support. Some key

    allocations are as follows: Works – N183.5 billion; Power – N74.26

    billion; Education – N426.53 billion; Health – N279.23 billion;

    Defence – N348.91 billion; Police – N319.65 billion; and Agriculture &

    Rural Development – N81.41 billion.

     

    53. The power and gas sectors require a lot of investments to sustain

    our supply improvements. We shall therefore complement available

    resources with a proposed Infrastructure Euro Bond of about $1 billion

    in order to complete gas pipelines and other infrastructure

    investments. We have also programmed other grants and soft credits

    critical to infrastructure and other sectors in our medium term

    external borrowing plan.

     

    54. The SURE-P will continue with the expected resources of N180

    billion in 2013 augmented by the projected 2012 unspent balances

    bringing the total to about N273.5 billion. We hope to make further

    progress in the programme, providing additional infrastructure

    investments and social safety net schemes for Nigerians. I am pleased

    to also lay before this esteemed Assembly, the 2013 Budget for the

    SURE-P.

     

    Fiscal Policy

    55. To promote Nigerian agriculture and industry, we will continue to

    implement supportive fiscal measures for some priority areas. You will

    recall that in my 2012 Budget speech, I announced fiscal measures on

    rice, cassava, wheat, and machinery for the agriculture and power

    sectors. In this regard, I am pleased to announce the following

    additional measures which will be effective from 1st January 2013:

     

    a. Sugar: Machinery and spare parts imported for local sugar

    manufacturing industries will now attract 0% duty; there will also be

    a 5-year tax holiday for “sugarcane to sugar” value chain investors.

    Furthermore, import duty and levy on raw sugar will be 10% and 50%

    respectively, while refined sugar will attract 20% duty and 60% levy;

     

    b. Rice: A 10% import duty and 100% levy will be applied to both brown

    and polished rice;

     

    c. Aircraft: All commercial aircraft and aircraft spare parts imported

    for use in Nigeria will now attract 0% duty and 0% VAT. This will

    appreciably improve safety in our skies as newer fleet and less

    onerous maintenance will prevail;

     

    d. Solid Minerals: Machinery and equipment imported for use in the

    solid minerals sector will now attract 0% import duty and 0% VAT; and

     

    e. Public Mass Transit: In order to encourage the production of mass

    transit vehicles in Nigeria, duty on Completely Knocked Down

    components (CKD) for mass transit buses of at least 40-seater

    capacity, will now be 0%, down from 5%. Government is desirous of

    supporting green growth and, in this regard, will explore options for

    providing incentives for energy efficient vehicles from the 2014

    fiscal year.

     

     

    Gender Empowerment

    56. This administration is gender friendly and has worked to improve

    the position of women in society and empower them economically.

    Nevertheless, to further integrate women in the various sectors, we

    have developed an innovative approach to mainstreaming gender issues

    starting with 5 pilot ministries – Agriculture, Health, Communication

    Technology, Water Resources and Works. These ministries are signing

    MOUs with the Ministry of Women Affairs to deliver on specific

    services for women.

     

    a. The Ministry of Agriculture, for example, will work with the

    Ministry of Communication Technology to ensure that 5 million women

    farmers and agricultural entrepreneurs receive mobile phones to be

    able to access information on agro-inputs through an e-wallet scheme.

     

    b. The Ministry of Health, in addition to scaling up its ongoing “Save

    a Million Lives” initiative, plans to give back health and hope to

    one-third of the pool of young girls and women who have been waiting a

    long time for V.V.F repairs through surgery and economic

    rehabilitation. In addition, we are up-scaling routine immunization.

     

    c. For 2013, the Ministry of Works plans to increase the number of

    women that are employed in public works programmes as contractors,

    workers and project evaluators, setting itself a target of 35% for

    women in FERMA rehabilitation work. In every geopolitical zone, at

    least 3 roads leading to areas where women’s socio-economic activities

    are concentrated, will be prioritised and completed.

     

    57. To support these activities, we have set aside the sum of N3

    billion to be disbursed to participating MDAs as incentives for them

    to deliver on these targets. Our focus on empowering women is part of

    our agenda for improving the country’s human development indicators.

    In this regard, we shall not relent in our efforts to improve access

    and quality in our health and education sectors.

     

    Sports

    58. The performance of our sportsmen and women continues to strike an

    important chord for all Nigerians across the country. We want to take

    our sports to great heights again. We all recall our disappointment

    with our performance in the recent Summer Olympics games in London. At

    the same time, we were very delighted with the success of our

    Paralympics athletes.

     

     

    59. My Administration is committed to addressing the challenges faced

    by our sports men and women. Later this month, I will be hosting a

    Presidential retreat on sports in order to strategise on ways to

    support our sports sector to achieve greater heights.

     

    CONCLUSION

    60. Mr. Senate President, Mr. Speaker, Distinguished and Honourable

    Members of this esteemed Assembly, Fellow Nigerians, the Budget

    Proposal I lay before you today represents our continued drive for

    real and sustainable growth for the wellbeing of Nigerians.

     

    61. It is a budget that gives priority to our concerns for security,

    infrastructure, food security and human development sectors. It is a

    Budget that introduces a series of innovative features. This Budget is

    a push in the right direction borne out of our well thought-out and

    articulated developmental policies.

     

    62. This is a budget for every Nigerian. It belongs to the farmer, the

    investor, the entrepreneur, the youth and the elderly. Yes, we have

    challenges, but also incredible opportunities. Ours is the task of

    transforming these opportunities into real, tangible outcomes which

    all our people can experience and call their own. We need the

    cooperation of everyone to make it work, to grow the economy, and to

    create jobs for our people. I continue to call on all Nigerians to

    act. Making Nigeria work begins with you and me.

     

    63. Finally, I must restate my appreciation of the contributions and

    cooperation of the Legislature in discharging our collective

    responsibility to build the nation of our dreams.

     

    64. I look forward to an expeditious consideration and passage of this

    Proposal, as we strive to guarantee positive socio-economic

    transformation for the benefit of our people.

     

    65. May God bless the Federal Republic of Nigeria.

     

    66. I thank you.

  • Full text of President Jonathan’s speech on flooding

    Full text of President Jonathan’s speech on flooding

    Broadcast by His Excellency, President Goodluck Ebele Jonathan, GCFR on the Incidences of Flooding in Parts of the Country

    Abuja. October 2012

     

    Fellow Nigerians,

    1. Over the past few weeks, unprecedented floods have ravaged many parts of our country, rendering tens of thousands of fellow Nigerians homeless, and causing massive destruction of property, farmlands, and infrastructure across the country.

    2. I wish to express our deep commiseration with all those who have lost loved ones; those who have lost their property; as well as all the affected communities and institutions.

    3. It is sad that this global phenomenon of devastating floods has come to Nigeria at this time.

     

    4. I want to reassure all Nigerians that the Federal Government is prepared to do everything possible to mitigate the impact of this natural disaster.

    5. I had earlier set up a Presidential Technical Committee to visit all affected areas with a view to properly assessing the impact of the floods. The Committee has since submitted an interim Report.

     

    6. The Report, which contained a number of recommendations, was presented to key stakeholders including the leadership of the National Assembly and Governors of the affected States.

     

    7. The Technical Committee will continue to go round the country while the Vice President and I will also visit some of the affected communities. When we receive the Committee’s final Report, the Federal Government will further initiate medium and long-term measures to check future flood disasters.

     

    8. In the meantime, relevant government agencies have intervened to provide relief to the affected persons in collaboration with the State governments.

     

    9. The National Emergency Management Agency (NEMA) has so far spent N1.314 billion to provide immediate relief materials. The Ministry of Works has spent N556 million on the repair of collapsed bridges and the construction of bye-passes; while the Ministry of Environment has spent N95 million on sundry relief measures.

     

    10. In addition to this, the Federal Government has decided on a number of measures to further ameliorate the situation. These include the immediate provision of a total of N17.6 billion in direct financial assistance to the affected States and some Federal Government Agencies responsible for disaster management. The States will receive a total of N13.3 billion while the Federal Agencies will receive N4.3 billion.

     

    11. Based on the present assessment, the States have been categorized into four groups: A to D. All Category A States will receive N500 million each; Category B States, N400 million each; Category C States, N300 million each; and Category D States, N250 million each.

     

    12. Category A States: Oyo, Kogi, Benue, Plateau,

    Adamawa, Delta, Bayelsa and Anambra.

     

    Category B: Jigawa, Kano, Bauchi, Kaduna, Niger,

    Nasarawa, Taraba, Cross-River, Edo,

    Lagos and Imo.

     

    Category C: Kwara, Katsina, Gombe, Ogun, Ondo,

    Ebonyi, Abia and Rivers.

     

    Category D: Sokoto, Kebbi, Zamfara, Yobe, Enugu,

    Ekiti, Osun, Akwa-Ibom, Borno and FCT.

     

    13. To further intensify their intervention activities, the following agencies of the Federal Government have also been allocated funds as follows:

     

    · Ministry of Works – N2.6 billion

    · National Emergency Management Agency

    – N1.1 billion

    · Ministry of Environment – N350 million

    · National Commission for Refugees – N150m

    · Technical Committee on Floods Impact Assessment – N100 million

     

    14. I have also set up a National Committee on Flood Relief and Rehabilitation to assist the Federal Government to raise funds to mitigate the pains and ensure the effective post-impact rehabilitation of victims. This Committee will be co-chaired by Alhaji Aliko Dangote and Mr. Olisa Agbakoba, while Dr. Mike Adenuga, Jr. will serve as the Chief Funds Mobiliser.

    15. The full membership of the Committee will be announced immediately after this broadcast.

    16. Fellow Nigerians, let me use this opportunity to thank State Governments, members of the National Assembly, private individuals, agencies of government, private sector institutions, NGOs, faith-based organizations, and philanthropic groups who individually and collectively have risen to the aid of persons and communities affected by the floods.

    17. This humanitarian and compassionate spirit that has been on display in the past few weeks reassures us that, at critical moments, Nigerians are able to come together in pursuit of a common purpose.lk

    18. My Fellow Compatriots, let me once again reassure you that this Administration remains fully committed to the welfare and well being of all Nigerians at all times.

    19. May God bless the Federal Republic of Nigeria.

     

    20. I thank you all.

  • President Jonathan’s Independence speech

    President Jonathan’s Independence speech

    ADDRESS BY PRESIDENT GOODLUCK EBELE JONATHAN ON THE OCCASION OF THE INDEPENDENCE DAY ANNIVERSARY ON MONDAY, 1ST OCTOBER, 2012

    1. Beloved countrymen and women, on this day, fifty-two years ago, our founding fathers brought joy and hope to the hearts of our people when they won independence for our great country. Nigeria made a clean break with more than six decades of colonial rule, and emerged as a truly independent nation. That turning point was a new beginning for our nation.

    2. Those who witnessed the lowering of the Union Jack and the emergence of the Green White Green flag continue to relish the memory, because that ceremony was not just about the destiny of a nation, but the future of a people.

    3. That future is here; we are the inheritors of a great legacy that goes even much farther into the past.

    4. The worthy patriots who made this possible were young men and women in their twenties and thirties. They worked together to restore dignity and honour to the Nigerian people. Their resolve united a multicultural and multilingual nation of diverse peoples, with more than 250 distinct languages and ethnic groups.

    5. In 1960, our diversity became a source of strength, and the new leaders resolved to carry the flag of independence for the benefit of future generations. They had their differences, but they placed a greater premium on the need to come together to build a new nation.

     

    6. It is that resolve, and that glorious moment that we celebrate today. We also celebrate the patriotism of our heroes past: Dr Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Sir Ahmadu Bello, Chief Obafemi Awolowo, Sir Michael Okpara, Chief Anthony Enahoro, Herbert Macaulay, and several others who made the case for our independence.

    7. We remember as always, their contributions to the making of the Nigerian nation, and the efforts of their successors since 1960. We also celebrate the unfailing optimism and resilience of Nigerians who remain proud of our national identity.

    8. On this special day, I call on every Nigerian to remain steadfast, because our nation is indeed making progress. I call on every Nigerian to rediscover that special spirit that enables us to triumph over every adversity as a people:

    9. We weathered the storm of the civil war, we have refused to be broken by sectarian crises; we have remained a strong nation. I bring to you today, a message of renewed hope and faith in the immense possibilities that lie ahead.

    10. Fellow citizens, I have an unshaken belief in the future of our great Country. I consider it a priority and sacred duty to continue to strengthen the bond of unity that holds our nation together and to promote and nourish the creative energies of our people. This is a central objective of our administration’s Transformation Agenda. Nigeria, I assure you, will continue to grow from strength to strength.

    11. Since I assumed office as President of our dear country on the 6th of May 2010, I have continued to work with our countrymen and women to enhance our nation’s growth and development.

    12. Our vision is encapsulated in the Transformation Agenda. We are working hard and making progress on many fronts. We have cleaned up our electoral process; our elections are now globally acclaimed to be free and fair. Nigeria is now on a higher pedestal regarding elections.

    13. Over the past five years, the global economy has been going through a weak and uncertain recovery. During the same period and particularly in the last two years, the Nigerian economy has done appreciably well despite the global financial crisis. Nigeria’s real Gross Domestic Product (GDP) has grown by 7.1 per cent on average.

    14. It is also significant that the GDP growth has been driven largely by the non-oil sector. In pursuance of the main goals of the Transformation Agenda, a number of reforms and initiatives are being pursued in key sectors of the economy with a view to consolidating the gains of the economic growth.

    15. Our country’s power supply situation is improving gradually. We are successfully implementing a well-integrated power sector reform programme which includes institutional arrangements to facilitate and strengthen private-sector-led power generation, transmission and distribution.

    16. We have also put in place a cost-reflective tariff structure that reduces the cost of power for a majority of electricity consumers. I am pleased with the feedback from across the country, of improvements in power supply.

    17. We are continuing to improve and stabilize on our crude production volumes; our 12-month gas supply emergency plan, put in place earlier this year, has produced more than the targeted volumes of gas for power generation. A robust Petroleum Industry Bill (PIB) has been placed before the National Assembly. Its passage into law will ensure far-reaching reforms, transparency, accountability, increased government revenue and predictability for investors in the Oil and Gas sector.

    18. Several government programmes and projects are creating wealth and millions of job opportunities for our youth and general population. Such programmes include: You-Win, both for the youth and for the women, Public Works, the Local Content Initiative in the Oil and Gas Sector, and the Agricultural Transformation programme.

    19. We have improved on our investment environment; more corporate bodies are investing in the Nigerian economy. Our Investment Climate Reform Programme has helped to attract over N6.8 trillion local and foreign direct investment commitments.

    20. Nigeria has become the preferred destination for investment in Africa. It is ranked first in the top 5 host economies for Foreign Direct Investment (FDI) in Africa, accounting for over 20 per cent of total FDI flows into the continent. We have streamlined bureaucratic activities at the ports to ensure greater efficiency in the handling of ports and port-related businesses. Specifically, we have drastically reduced the goods clearing period in our ports from about six weeks to about one week and under. We have an ultimate target of 48 hours.

    21. We have put in place, a new visa policy that makes it easier for legitimate investors to receive long stay visas. We have achieved a 24-hour timeline for registration of new businesses, leading to the registration of close to 7, 000 companies within the second quarter of 2012.

    22. The Manufacturers Association of Nigeria (MAN) has disclosed that, as at July 2012, 249 new members across the country had joined the Association, and that capacity utilization has also improved. The multiplier effect of this development on our job creation programme cannot be over-emphasized.

    23. In the last two years, we have put in place structures for an upgrade of the country’s health sector, to promote in every respect, the individual citizen’s right to quality, affordable and accessible healthcare.

    24. In this regard, we are devoting resources under the Subsidy Reinvestment Program (SURE-P) to reducing malaria incidents, dramatically reducing maternal and child mortality, and eradicating polio.

    25. Fellow Nigerians, in recent times, we have witnessed serious security challenges in parts of our country. We have taken pro-active measures to check the menace. This has included constant consultation and collaboration with our neighbours and other friendly nations on issues relating to internal and cross border security, and the sharing of information on smuggling and illegal dealing in small arms and light weapons.

    26. Our security agencies are constantly being strengthened and repositioned for greater efficiency. Many Nigerians have acknowledged that there has been a significant decline in the spate of security breaches.

    27. While expressing our condolences to the affected families, let me reiterate the commitment of this Administration to ensure the safety of lives and property of all Nigerians.

    28. Even as we remain focused on the issue of security, the fight against the scourge of corruption is a top priority of our Administration. We are fighting corruption in all facets of our economy, and we are succeeding. We have put an end to several decades of endemic corruption associated with fertilizer and tractor procurement and distribution. We have exposed decades of scam in the management of pensions and fuel subsidy, and ensured that the culprits are being brought to book.

    29. In its latest report, Transparency International (TI) noted that Nigeria is the second most improved country in the effort to curb corruption.

    30. We will sustain the effort in this direction with an even stronger determination to strengthen the institutions that are statutorily entrusted with the task of ending this scourge.

    31. I have given my commitment of non-interference in the work of the relevant agencies and I am keeping my word. What we require is the full cooperation of all tiers of government, and the public, especially civil society and the media.

    32. This Administration has also introduced for the first time in Nigeria’s history, a Performance Contract System for all Ministers, and other officials of government. This is to further place emphasis on performance, efficiency, and service delivery.

    33. Fellow Nigerians, our determined efforts on several fronts not-withstanding, our country still faces a number of challenges.

    34. Those challenges should not deter us. In the last few weeks, for example, many of our communities have been ravaged by floods, resulting in the loss of lives and property, and the displacement of persons.

    35. I want to reassure all affected Nigerians that I share in their grief, and our Administration is taking steps to address these incidents, in collaboration with the States and Local Governments.

    36. I have received the interim Report of the Presidential team that I set up to assess the flooding situation across the country.

    37. The Federal Government has taken measures to assist the affected States, while considering long term measures to check future re occurrence.

    38. We must continue to work together, confidently and faithfully, to ensure that our country’s potentials are realised to the fullest; that our dreams are translated into reality; and that our goals are achieved.

    39. Let me reiterate that our administration is committed to the pursuit of fundamental objectives of an open society: the pursuit of freedom, security and prosperity for the Nigerian people, and the rule of law.

    40. In the next few days, I shall lay before the National Assembly the 2013 Federal Budget Proposal so that deliberations can commence in earnest on the key policies, programmes and projects that will mark a decisive year for our development and transformation.

    41. I have no doubt that by the time I address you on our next independence anniversary, many of our reform efforts would have yielded even better results.

    42. Over the years, several leaders have built on the foundation laid by our Founding Fathers. The baton is now in our hands. Let me assure all Nigerians that we shall not fail.

    43. I am confident that Nigeria will continue to be a source of pride to its citizens; to Africa and the Black Race and to humanity; a land that is known for progress, freedom, peace and the promotion of human dignity.

    44. May God bless the Federal Republic of Nigeria. May God bless you all.

  • Umunna: U.K Labour’s ‘British Obama’

    Umunna: U.K Labour’s ‘British Obama’

    Chizom Ekeh, freelance journalist profiles Umunna, the British Member of Parliament of Anglo-Irish Nigerian descent who is regarded as one of Labour Party’s ‘rising stars’

     

    Despite his protestations, Chuka Umunna, Labour Member of Parliament can’t hold back speculation that he may become the’ British Obama’.

    The former lawyer, who was born and raised in Streatham, has climbed the ranks of the Labour party with record speed.

    In just 18 months, he became parliamentary private secretary to the Labour party leader, Ed Miliband, and then moved on to become shadow minister for small business and enterprise. Five months later in October 2011, when John Denham retired from politics, Umunna was promoted to shadow business secretary.

    At 33 years old he is one of the youngest MPs in parliament and the shadow cabinet. When he was elected as MP for Streatham at the election in 2010, he was named by commentators as one of Labour’s “rising stars.”

    But it is difficult to pinpoint the exact moment when Umunna’s political stardom began. Some highlight his performance on Question Time in October 2007, when he challenged the Sun’s editor, Kelvin McKenzie, over remarks he made about Gordon Brown.

    Others highlight his performance at the Treasury Select Committee meeting last year, when he quizzed Barclays boss, Bob Diamond, on the bank’s alleged tax avoidance schemes. It was revealed that Barclays used over 300 subsidiary companies in offshore jurisdictions and had paid just £113m in corporation tax in 2009, despite making £11.6bn in profit.

    On the other hand, Independent journalist, Steve Richards, attributes Umunna’s success to his political background and his decision to back Ed Miliband in Labour’s leadership contest. He highlights the politicians’ similar ideological outlooks and the connections made when both were involved with the centre-left think tank, Compass.

    It has been five years now since the Labour MP has been dogged with comparisons to Barack Obama. In 2007 Simon Woolley, director of Operation Black Vote, was first to make the link.

    Then in 2009, when Umunna was just 30 years old, the New Statesman published his profile as Labour’s parliamentary candidate for Streatham with the headline “ A Barack Obama for the UK”.

    Indeed there is broad consensus on the many characteristics that the two men share. Most obvious is that both are mixed race of half African descent, both are lawyers and both suffered the tragedy of losing their fathers due to car accidents at an early age. It is also vastly overstated that like Barack Obama, Mr Umunna is handsome too.

    And perhaps most perceptive of all, is the observation that the politicians’ names even share the same syllable count.

    However in a number of interviews, Umunna has expressed dismay with such comparisons, which he has described as “dangerous “. His stated wish is not to be “viewed through the prism of someone else’s personality.”

    The Streatham MP is marked for being an unusually popular politician. This is due in part to his polished public image. Umunna is noted for his custom tailored suits and has been variously described by commentators as ‘smooth’, ‘marketable’, ‘refreshing’ and a ‘cool cat’.

    As a result Umunna has wide telegenic appeal and has become a seasoned media performer. Cynics highlight however, that such attributes could mean that he has more chance of becoming prime minister than the current Labour party leader, Ed Miliband.

    Nelson Abbey, journalist at the Evening Standard wrote: “If I was Chuka, when Ed Miliband – who doesn’t seem to excite the Labour faithful, the media or the electorate – was elected to lead his party, I would have gone into a bathroom, looked in the mirror and passionately kissed myself. Ed’s election and the defeat of his brother, David Miliband, probably enhanced Chuka’s prospects more than it did his own.”

    Despite his confortable upbringing in the leafy suburbs of Streatham, Umunna can straddle the social divide and identify with urban culture. At one point in his life he wanted to be a DJ and ran a regular club night in Brixton.

    The MP is also chair of the London gangs’ forum and has supported a number of charities for youth.

    But while Umunna identifies himself as a ‘European Social Democrat’, question marks still hang over his politics. Is the Streatham politician, voted two years in succession as parliament’s most fanciable MP, more style than substance or the reverse?

    In an interview with the Guardian early last year, Umunna said that his drive to become involved in politics was rooted in his belief in social justice and a desire to change people’s lives. He emphasised that he did not want to be perceived as just another ‘career politician’.

    And to this end one could look back to his activities at Compass. At the beginning of his career, he gained a following on the Labour left. He was highly critical of the New Labour agenda and called for the party to stand up for its core beliefs of fairness and redistribution.

    Today however Umunna is rumoured to have admitted to friends that since his election in 2010, his politics have shifted to the right or become more “centrist”.

    Labour’s “glittering star”, as he was pronounced by the Economist, has been increasingly associated with the former business secretary, Peter Mandelson, who is otherwise known around Westminster as the “Dark Lord”.

    Umunna’s stated “totally relaxed” attitude towards the high earnings of entrepreneurs who set up business and create wealth and jobs for the country, is said to echo Mandelson’s statement that he was “intensely relaxed about people getting filthy rich” if they paid their taxes. Umunna has expressed deep respect and eagerness to learn from the former business secretary and the pair are said to be in regular contact.

    Furthermore and perhaps even more striking is the fact that the Labour MP has expressed new admiration for the former prime minister, Tony Blair, after having recently read his book.

    Blair is said to have had significant input into Umunna’s tutelage. In the May issue of Total Politics it was noted that the MP displayed “Tony-esque flourishes”. Meanwhile the Independent’s Tim Walker observed:

    “Umunna shares a number of Blair’s mannerisms: he’ll often preface his sentences with “look”, or “Y’know”or “What I would say is…”.

    Walker added that he “deploys his charming laugh at all the right moments.”

    Indeed in stark contrast to his disillusionment with New Labour in 2009, in 2011 in an interview with the Independent, Umunna said that he believed that 85 per cent of what Tony Blair did was right – although he did not support the invasion of Iraq and his neo-liberal agenda.

    He went as far to add that had it not been for Blair’s 1997 reforms, he would probably not have joined the party.

    Perhaps most unexpected of all was his recent announcement that he has turned to former Tory business secretary, Michael Heseltine, for inspiration. Umunna explained: “ I just like his approach and mind-set when it comes to looking at how government can work with business.”

    The MP has also found friends on the Conservative benches. Andrew Tyrie, chair of the Treasury Select Committee, described Umunna as “charming”, “effective” and “the genuine article” and has predicted that he has every chance of enjoying “a long spell at the top of British politics.” Some Tory bloggers have gone as far to suggest that Umunna should defect.

    The MP of Anglo-Irish Nigerian descent proudly describes himself as a Londoner. His professed love for UK garage music is due is to its fusion of English, Jamaican and Latin cultures which makes it “very essentially London”.

    But despite having established TMP – a political website targeted at multicultural progressives, he rarely speaks out publically on issues regarding race. His recent statement that the verdict of the John Terry racism trial had sent out the wrong message was unusual.

    And unlike activists on the ground who believed that the August 2011 riots were in part symptomatic of declining race in equality in the UK, Umunna refutes all suggestions that the riots had a racial dimension. Instead he says “the elephant in the room is social mobility.”

     

  • The attractions for Ghanaian universities

    The attractions for Ghanaian universities

    The Chairman, Committee of Pro-Chancellors of Nigerian Universities, Dr Wale Babalakin recently disclosed that no fewer than 75,000 Nigerian students are currently studying in three Ghanaian universities incurring a total of N160billion expenditure annually.

    In this report, The Nation Online reports on why Nigerian students are trooping to Ghana for university education.

    LACK OF ADMISSION OPPORTUNITIES IN NIGERIA

    With the large number of qualified students who are unable to get university admission in Nigeria, Ghanaian universities and others in neighbouring West African region have become major attractions. According to a Nigerian student studying in a Ghanaian university, “it not that Nigerians prefer Ghanaian universities… it’s just that to gain admission into Ghanaian universities is relatively easier than our universities in Nigeria. Trying to get admission in Nigeria is like gambling which is not the case in Ghana. If you are qualified and you can pay for it you will get admission”.

    In acknowledgement of the increasing number of Nigerians seeking admission in Ghana, President Goodluck Jonathan during a visit to the country said “despite the number of federal, states’ and private universities in Nigeria, yet we do not have enough. So if Ghana can provide solid education for our people and other African countries they should do it.”

    UNINTERRUPTED ACADEMIC CALENDAR

    Regular disruption of academic calendar due to frequent strikes by both academic and non-academic staff of Nigerian Universities has necessitated students spending more years than expected for various courses. In Ghana, it is reported that there is hardly cases of strikes in Universities making it possible for students to graduate on schedule. The academic session is said to be stable and predictable.

    BETTER PERCEPTION OF GHANA’S EDUCATION SYSTEM

    Despite having more universities with acclaimed academicians and professionals home and in abroad, the Ghanaian educational system is still perceived to be better than that of Nigeria globally. The rising image of Ghana as a stable democracy has obviously rubbed off on the rating of its educational institutions whose certificates are said to be well respected in globally. For some Nigeria, studying in Ghana is like studying abroad and getting an international certificate which can enhance their chances in for post graduate studies and job search.

    Nigerian students interviewed were divided on the question of the standard offered by Ghanaian universities compared with that of Nigeria. Some said the standard is the same while others noted the Ghanaian lecturers are more thorough in their teaching and the curriculum is more diverse.

    COST IS NOT A FACTOR

    Except for a few top range private universities in Nigeria, it is comparatively more expensive to study in Ghana. The average tuition fee for private universities in Ghana attended by majority of the Nigerian students in the country is put at about $2500, while international students pay much higher in public universities. Many parents are ready to pay the high cost as long as their children can get the admission and quality education.

  • ‘Okonjo-Iweala seeks reform without the godfathers’

    ‘Okonjo-Iweala seeks reform without the godfathers’

    Nigerian Finance Minister Ngozi Okonjo-Iweala is battling to reform the country without support from the shadowy “godfathers” who wield power from behind the scenes.

    Summoned by President Goodluck Jonathan last year to restore some order to Nigerian public finances, the former World Bank managing director said her efforts are slowly bearing fruit.

    But while Western nations and international agencies admire her drive from afar, they hold little sway in Nigeria.

    Okonjo-Iweala’s ability to fight corrupt interests is constrained by her lack of support from wealthy figures such as ex-state governors, military officers and ruling party hacks who use huge patronage – or sometimes violence – to drive politics back stage.

    “Her only ‘godfather’ is the international community, and that doesn’t cut it,” said a senior adviser to the national assembly, who asked not to be named.

    When she quit her Washington job and flew back home, Okonjo-Iweala knew her second stint as finance minister would be tough. She now admits it has been even tougher than she imagined.

    “It was much harder. It has not been easy, and the struggle is still ongoing,” she told Reuters in her office in Abuja, the capital, exhausted by a night negotiating with oil unions. “You make progress, then you get courage to make more … Fighting corruption is something we need to keep working at.”

    Okonjo-Iweala has started to tame government expenditure and make limited reforms, but her room for manoeuvre is limited by her restricted access to state revenue, 80 percent of which comes from oil.

    She has also found herself again fixing problems she tackled during her first term which ended six years ago, only for these achievements to have been undone in the meantime.

    Okonjo-Iweala, who missed out on the World Bank presidency earlier this year, may yet decide to take another high profile international job. She is tipped as a possible next World Trade Organization head, although she has so far shown no interest.

    Should she decide to leave Abuja, her biggest challenge will be ensuring any reforms she makes can’t be undone.

    Nigeria’s dysfunction is hugely profitable for some. Its moribund power grid allows importers of generators and diesel to make immense sums; dilapidated refineries leave Africa’s top oil producer dependent on imported petrol that has made billionaires of a handful of tycoons thanks to a corrupt fuel subsidy scheme. Ports are clogged with goods held up by bribe-seeking officials.

    Some of the elites which profit from these inefficiencies are blocking attempts at structural reforms, including Okonjo-Iweala’s, such as curbs on state spending and the removal of the fuel subsidy, raising doubts about how much they can achieve.

    “(Her) intent is absolutely the way for fiscal policy to go. The difficulty is likely to be in the implementation of those plans,” says Razia Khan, Head of Africa Research at Standard Chartered. But she adds: “There is a sense that … if it can’t be done by Ngozi, then it is unlikely to be achieved by anyone.”

    Backing from President Jonathan has given Okonjo-Iweala some clout. Nevertheless, she has had to move cautiously, hoping for piecemeal rather than revolutionary change.

    Analysts give as an example port reform and the Sovereign Wealth Fund (SWF) set up to manage Nigeria’s oil savings, which her predecessor Olusegun Aganga designed and pushed through parliament. Okonjo-Iweala has in turn had to win over powerful state governors, who initially opposed the fund.

    Okonjo-Iweala points out that the budget deficit fell from 2.95 percent of total economic output in 2011 to 2.85 percent in 2012. A further drop to 2.21 percent is projected for next year.