Tag: President

“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.