Tag: economic plan

  • ‘Akeredolu’s economic plan ‘ll uplift Ondo’

    A chieftain of the All Progressives Congress (APC) in Ondo State, Alhaji Kazeem Falodun, in this interview with reporters in Lagos, speaks on the challenges that will confront the Rotimi Akeredolu administration. Excerpts:

    What do you think the incoming administration in Ondo State will do differently, compared to the outgoing one?
    Yes, I know many things that would have been done differently if Arakunrin Akeredolu had been in charge years back. Now that he is in, a lot will be done differently. One, Governor Segun Mimiko appeared not to believe in long term projects but quick fix that would give him instant glories. Take for instance the issue of the Dome that gulped billions of naira. Half of what was expended on the event centre is what we need to put our bitumen project in place. The bitumen project would have been a good economic intervention for Ondo State; in terms of revenue generation and employment opportunities for hundreds of our graduate youths. But Mimiko administration didn’t consider it as a priority. Again, look at the Olokola Free Trade zone project which our late governor, Olusegun Agagu started, Mimiko and his team abandoned it and faced things that would give them immediate glories. If Olokola had been given attention, Ondo would have become as rich, if not richer than Lagos State. With Olokola, many investors would have come to Ondo State. We should not forget that Alhaji Dangote was planning to build a refinery there but lack of commitment from Mimiko frustrated the effort.
    Akeredolu may abandon the existing projects and start new ones just like Mimiko, or what do you feel?
    You concluded that way because you don’t know Arakunrin Akeredolu. He cares less about some cheap popularity that typical Nigerian politicians are known for. His interest lies in what will bring total good to the people. He has never hidden his bias for projects that would create jobs and develop the state. To me, he is coming in to build and not to destroy and whoever that has that in mind will not abandon developmental projects of his predecessors.
    Akeredolu is coming in at a time there is paucity of funds. Don’t you think this may affect his performance?
    I don’t think all those factors would in any way affect his plan for Ondo State. He is not coming in by accident but through a process that has allowed him to plan and think of what to do to alleviate poverty in the state. Governance is about creativity and innovation. Right from my undergraduate days as economics student, I have known and appreciated the place of good economic plan in governance. I’m privy to the fact that Akeredolu is planning to come up with a strong economic team and economic plan that will re-create Ondo State. In the next two years, I have no doubt that what is currently happening in Lagos will be happening in Ondo State, in terms of revenue generation, employment opportunities and developmental projects. Akeredolu has consistently aspired to become governor and he has mapped out strategies that would make the job easy for him. Asides, he has not hesitated to tell who cares to listen that he is keen about having a good team that would help him achieve his aims.
    How do you think the incoming government can solve the problem of unemployment?
    Like I said earlier, Mimiko failed to harness the potentials of Ondo State and her people. Unlike Europe, where leader ‘A’ will start a project and leave it for leader ‘B’ to complete, Mimiko failed to inaugurate some projects that would have solved long term problems of unemployment and revenue generation like the bitumen and Olokola projects, which I mentioned. Now with Akeredolu in the saddle, it is certain that he will explore agriculture and attract foreign investors. If Ondo State is turned to industrial hub in Nigeria, I can bet it, issues related to unemployment will become a thing of the past. Another thing is that the new governor should try to facilitate the building of a port in the state, giving its strategic position. This will boost our economy and create jobs as well.
    You are based in Dublin, but you still maintain ties with your people at home. What informs this?
    First of all, I’m an Owo man in Ondo State, even though I based abroad. I was born in Owo, I grew up in Owo and I have my families in Owo. Even when I was in the University -I attended Obafemi Awolowo University, Ile Ife, I was very close to Owo. After the university education, I travelled to Europe, but I have never allowed that to becloud my vision to touch lives in my community and that explains why I always come around during festivals; either community or religious to share good moment with my people. Again, since we entered this democratic dispensation, I have participated in almost all the elections that took place in Ondo State. In most cases, I came in months before the election and participated well in campaign and mobilisation. I’m doing all these because I know that regardless of whatever I’m giving to support my people, political participation will allow me to do more in the area of service and provision of necessary support to better the society.
    Anywhere, I find myself; I’m always willing to give back to the society, to the people and to my country. We must all think of what we can do for our country, state and people of our community, not what they can do for us. With what I have experienced in life, I know what it takes to get educated and get job, you just must pass through people.
    Don’t you think the controversy and disagreement within the APC in Ondo State before and after the emergence of Akeredolu could cause distraction for the administration?
    From what I have seen and observe about our leaders, especially Asiwaju Bola Tinubu, what happened during the primaries are not enough to tear the party apart. I can tell you, they have all closed ranks. Don’t forget that the party and the governor elect made room for reconciliation after the election and that have gone a long way in resolving most of the knotty issues. As I talk, APC in Ondo State is one with sole aim of rescuing the state and take her back to its glorious position. Let me quickly add that Asiwaju Tinubu is a liberal person that believes so much in progress. At the moment, what concerns him is out to make sure the party and its new governor succeed in changing the face of development in Ondo.
    Have you vie for any political office before?
    Yes, I participated in 2011 election by contesting the house of assembly seat in Owo under the ANPP. I did my best even though I didn’t the election. But despite that I worked well with my leaders and contributed in no small measure. It is still strange to some people in my constituency how I have consistently made my impact felt at home despite being in abroad. I do tell them that there is no magic about it. I come home at least three times in a year and whenever I’m around, I participate well in what happens around me.
    You contested in the ANPP in 2011 and now you are in the APC. When exactly did you become a member of the party?
    Oh, that’s interesting. After the 2011 election, I relocated back to my base and started evaluating the entire process. I appraised the parties and did personal screening for the characters involved. In no time, I arrived at a conclusion and decided to pitch my tent with Arakunrin Rotimi Akeredolu in 2012.
    Could that be because he hails from your town?
    That is far from that. Before then, I have had close contact with him and many other political gladiators in the state. Akeredolu is not a frivolous person and he is straight forward. Unlike some politicians, who will lie to you to win your heart, Arakunrin Akeredolu will say it the way it is not minding whose ox is gored. Categorically speaking, I see in him a serious minded individual, who is passionate about Ondo State development. Beyond Owo, many stakeholders in the state had long seen those essential qualities in him and decided to rally support for him. Don’t mind the propaganda that trailed the last election, many of us on ground knew that Akeredolu had overwhelming support across board and that he would win the election. From what I have seen about him, he is out to serve and will do everything humanly possible to develop Ondo State. We need a purposeful leader we can all support to take Ondo State to the next level and that we have found in Akeredolu.
    Coming to Owo, will you say the city is being given its rightful position?
    Unfortunately, Owo has been pushed into the back seat in the recent years. We should not forget that it used to be the political headquarters of the entire Yoruba race but little by little, we started losing it, especially after the passage of the late elder statesman, Chief Adekunle Ajasin. Now, with good home support for Arakunrin Akeredolu to succeed, Ondo indigenes will again see it in us that Owo people are progressive and can be trusted. Thank God, we have in the current Olowo another progressive leader that would give Akeredolu all that is important for him to succeed.

  • Ohuabunwa seeks five-year economic plan

    Ohuabunwa seeks five-year economic plan

    The Federal Government has been advised to develop a five-year strategic plan for growing the economy.

    The Founder/Chairman, Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE), Mazi Sam Ohuabunwa, said the blueprint of such a plan should focus on Nigeria’s comparative advantage.

    He listed solid minerals, mining, manufacturing, agriculture and the processing of agric products to finished goods, petrochemical, industrial parks, among others, as sectors that should be considered.

    He said such plan would roll out incentives to double agricultural output in five years, develop blue print for services and stretch the full possibility of information and communication technology.

    He said the government must lead a consultation with the private sector in order to achieve this, adding that the government must carry the private sector along.

    Ohuabunwa told The Nation that the private sector has the responsibility of growing the economy through job creation, saying while the government is expected to set the incentives to make the climate attractive for people to flow in that direction, it must at the same time consult one-on-one as equal partners with the private sector.

    He said: “We need a strategic planning to determine a plan and then work towards it, and in doing so, we need to define the role of each stakeholder and motivate each of them to move in that direction.”

    He said the blueprint should not exceed a period of five years, arguing that nobody would guarantee anything higher than that because the next government would see it with the Vision 2020. According to him, it would be a vision the government can deal with during its tenure, it would be more practical given the circumstances.

    Also, the Chairman/CEO, Enfrasco Energy and Infrastructure Services Limited, Chukwuma Okolo, said there is an urgent need to develop a very robust target for the oil and gas industry.

    He said all that was needed to do is to create incentives to make Nigeria the most attractive location for oil and gas companies to operate, adding that there is need to drop an inducement so that when an investor is thinking of where to go, he chooses Nigeria.

    Okolo argued that re-industrialising the nation requires a genuine commitment to creating a sustainable climate and incentives to make it work, adding that countries are made by their ability to add value not by the ownership of natural resources.

    He insisted that the country could grow the non-oil sector by an average of 15-20 per cent yearly, stating that the country can double the size of the non-oil and gas gross domestic product (GDP), which according to him, can boost government’s revenues

    “While you are doing this, you can raise the oil and gas, increase our proven reserves to invest in finding new oil because it is cheaper,” he said, adding that all the major contractors around the world in the oil services industry are idle.

    “In GDP terms, non oil and gas contributes about 80 per cent of our economy, the size led by agriculture, services and manufacturing.

    “This is the time to build up petrochemical plant based on fundamental economic indicators. This is the time we must grow the economy and when you are busy growing the economy, you are creating jobs.”

    He stressed the need to create sustainable jobs for the youths.

  • How NPA can aid Buhari’s economic plan

    How NPA can aid Buhari’s economic plan

    (NPA) can generate over N40 billion yearly if all revenue loopholes are plugged, The Nation has learnt.

    To achieve this, a senior Federal Ministry of Finance (FMoF) official said, the NPA management must be compelled to embark on programmes that will make the ports more effective and efficient.

    To the official, President Muhammadu Buhari will realise his dream of boosting the economy and creating jobs by focusing more on NPA.

    The official said in 2011, NPA remitted N29 billion into the Federation Account, making its highest remittance in its history.

    He urged the government to compel the management to fashion out the strategy to increase its revenue.

    NPA, the official said, needed experienced and core professionals to hold key positions to boost operations and generate more funds.

    He accused NPA of institutional weakness bordering on lack of coherent policy framework on port administration, noting that most of the countries in West Africa are building ports that can berth vessels with capacity for 14,000 containers.

    The 2006 port concession, he said, was a bold move to reposition NPA and make it competitive.

    “Chief Adebayo Sarumi is reputed as the father of the new NPA, on account of successfully shepherding the port concession process that led to ceding of certain aspects of NPA’s operations to the private terminal operators for efficient service delivery.

    “Succeeding Chief Sarumi was Mallam Abdusalam Mohammed, whose most pressing challenge was to ensure that the ship of port concession did not miss its course nor sink. In all sincerity, he tried to strike a balance between the old order and the new NPA, where entrenched interests of the union, the new terminal operators, the shipping line agents and the larger stakeholders became an issue.

    “Based on the current happenings in the port industry, NPA needs to devote ample time and resources to the actualisation of Deep Sea Port projects, especially the ones in Lekki, Lagos and Ibom in Akwa Ibom State. It should also be focused on the proposed Badagry port.

    “President Buhari must ensure that the current management of NPA turns the ports into an enterprise that will yield more revenue into government covers through improved vessel calls and an enhanced volume of cargoes coming to the country.

    “The greatest attestation of NPA as a successful business enterprise that is capable of paying returns on investments to its owners became manifest under its former Managing Director, Omar Suleiman.

    “Suleiman was a home grown CEO, having joined the organisation immediately after graduating from the university. It was Suleiman who unprecedentedly remitted a whopping N29 billion into the Federation Account in 2011; a feat yet unparalleled in the NPA’s history.

    “Significant projects such as the Lagos harbour moles, quay wall and apron, installation of marine fenders in Zone 1, 2 and 3 were carried out by him.

    “Other capital projects he embarked upon included the rehabilitation of Port Harcourt port road network and water supply, connection of Onne Port to National Grid (33KVA) from FOT Junction to Main Gate of Federal Terminal, rehabilitation of Julius Berger Terminal ‘C’ Old Port Warri, Delta State, reconstruction of Perimeter Wall Fence at Warri port, dredging of Escravos-Warri-Aladja to Koko Channel in the Warri Pilotage District.

    “He also kick-started a programme for the development of Deep Sea Port in Nigeria. This desire accelerated the vision for Ibaka Deepsea and Lekki Deep Sea Port.

    “The Ibaka Deep Sea Port as envisioned by Suleiman is to be the hub of oil and gas operation in the Gulf of Guinea. The port is said to be between 17 and 18 meters draught without dredging and its quay area is expected to span over two kilometres. It is designed to accommodate mega vessels of over 10,000 TEUs,” the official said.

    The official said, if not for unforeseen challenges bordering on administration, “the Ibaka Deep Sea Port would have become operational by this year, as that was the port’s projected take-off date.”

    Association of Nigerian Licensed Customs Agents (ANLCA), National President Prince Olayiwola Shittu lamented what he called the “harsh conditions” at the Apapa and Tin-Can ports and urged NPA to address the situation.

    “Stiff competition for hub status the Nigerian ports are struggling for is expected from West and Central African coast from Mauritania to Angola. This maritime axis is one of the few regions of the world with a dominant hub distribution port.

    “Nigerian ports and their handlers especially the current top officials of NPA should emulate the strategy of Omar Suleiman, who within the shortest available time was able to actualise the dream of a post-concession port system in which users and provider of port services are happy.

    “The port concession is a bold move to reposition the Nigerian Ports Authority and make it a competitive enterprise, with a capability for efficient service delivery.  The exercise was also meant to turn the NPA into an enterprise that will yield more revenue into government covers through improved vessel calls and an enhanced volume of cargoes coming to the country. To a large extent, this has been achieved.

    “Most of the terminals have also grown their throughput by about 250 per cent since port concession. Therefore, if President Buhari administration can block all the loopholes, nothing stops the NPA from remitting between N40 billion and N50 billion to the Federation Account every year.

    “It is to the credit of Engr Suleiman that the former Governor of Akwa Ibom state, Chief Godswill Akpabio handed over the Certificate of Occupancy (C of O) of the over 5580 Sq meters of land area for the new port to the NPA. That Akpabio handed over the master plan of the port to him is now history, but what the NPA has been able to do with it, is the question its management should tell Nigerians,” Shittu said.

    The ANLCA chief said the ports of Singapore and Egypt are contributing immensely to their economy and urged NPA to emulate them.

     

  • Industrialists await Buhari’s economic plan

    Industrialists await Buhari’s economic plan

    Industrialists in Lagos are awaiting the economic blueprint of President Muhamadu Buhari.

    Lagos Chamber of Commerce and Industry (LCCI) President Remi Bello indicated the position of the industrialists in a statement yesterday.

    He said the private sector eagerly awaits Buhari’s economic blueprint that will define the policy direction of his administration.

    “This is important for policy clarity, strategic planning, investment decisions and investors’ confidence. Major business decisions have been put on hold over the past six months because of the political risk associated with a transition regime.

    “The first half of the year was characterised by profound uncertainty which slowed down the momentum of economic activities in the country,” Bello said.

    The private sector, he explained, would like to see an unveiling of economic blueprint of the Buhari administration, especially in the areas of oil and gas sector reform, intervention in the power sector, current regime of investment incentives as well as monetary policy thrust focusing on exchange rate management, inflation and interest rate.

    Others are mode of monetary policy, automotive policy and its sustainability, trade policy covering tariffs, import prohibitions, waivers etc.

    Bello also harped on the need to have a clear and sustainable tax policy, debt management, including the direction of the Federal Government’s budget and the privatisation of development finance institutions.

    Other areas the administration must focus on, according to the LCCI boss, are: “Common External Tariff (CET) recently adopted by Economic Community of West African States (ECOWAS); sectoral policies to drive growth and economic diversification; key initiatives to reduce the cost of doing business; the status of legacy debts and contractual obligations, contractor arrears, outstanding subsidy payments, salary arrears, legacy projects, port reforms etc.”

    He advised that the momentum of economic activities needs to be rebuilt in earnest with better expenditure quality, constructive spending priorities, transparency in the governance process, enhanced security of life and property, investment-friendly policies, promotion of democratic ideals and the primacy of rule of law”.

    Bello added that the new political dispensation offers a great opportunity to bring about the desired change in all facets of national life – the economy, social sector, quality of life, value orientation and governance quality.

    He urged the new administration to take full advantage of its goodwill to immediately begin the charting of a new course for the country and the economy.

  • Jonathan backs Amosun’s economic plan

    President Goodluck Jonathan has said the Federal Government will support Ogun State Governor Ibikunle Amosun in its “Rebuilding Mission.”

    Speaking at the inauguration of Procter and Gamble’s multi-million dollar plant in Agbara, Jonathan, who was represented by Vice-President Namadi Sambo, said the Amosun administration was creating a conducive environment for businesses in the state.

    He said: “I believe Ogun is an industrially developed state. We will work with you based on synergies and policies that allow businesses to thrive.”

    The President said the contract for the construction of a gauge fast train to connect Lagos to Ibadan through Ogun State had been awarded, adding: “Olorunsogo Power Plant in Ogun has been completed and privatised.”

    He said plans for the long-awaited Lagos-Sokoto Road had reached an advanced stage, adding that its designs were being completed and the project would be executed under the Public Private Partnership (PPP) arrangement.

    Jonathan said the Federal Government would build an additional power transmission system and invest in the development of gas infrastructure to support the state government’s efforts.

    Amosun said the plant was the 43rd he is inaugurating in his less than three years 0f his administration.

    He said the company would create 2,000 direct and indirect jobs, urging firms in the state to be alive to their corporate social responsibilities to their host communities.

    Amosun said the government would continue to provide security and an enabling environment for investors.