President Muhammadu Buhari has challenged ministers and senior government officials to ensure the vigorous and prompt implementation of the Economic Sustainability Plan (ESP) programmes, to give succour to Nigerians.
The president gave the challenge in Abuja on Monday, at the First Year Ministerial Performance Review Retreat.
Buhari, who was represented by Vice-President Yemi Osinbajo, maintained that the ministers and senior government officials must stay focused on delivering results that would improve the welfare of Nigerians.
He noted that the government had continued to support the agricultural sector, the key to diversification of the economy, through schemes such as the CBN Anchor Borrowers Programme and the Presidential Fertiliser Initiative scheme.
“But, we are convinced that if we stay focused on our plans, brighter, more prosperous days will come soon.
“Ministers and senior officials must accordingly ensure the vigorous and prompt implementation of the ESP programmes, which will give succour to Nigerians.’’
On electricity, Buhari noted that many Nigerians were yet to be connected to electricity, stating that the Economic Sustainability Plan would provide Solar home systems to five million Nigerian households in the next 12 months.
He expressed optimism that the Solar Home System manufacturers and the bulk procurement of local meters would create over 300,000 local jobs.
According to him, the federal government will continue to ensure that Nigeria is on a path to full electrification.
“We have already begun the process of providing financing support through the CBN for manufacturers and retailers of Off Grid Solar Home Systems and Mini-Grids who are to provide the systems.
“The Five million systems under the ESP’s Solar Power Strategy will produce 250,000 jobs and impact up to 25 million beneficiaries through the installation.
“This means that more Nigerians will have access to electricity via a reliable and sustainable solar system.
“The support to Solar Home System manufacturers and the bulk procurement of local meters will create over 300,000 local jobs while ensuring that we set Nigeria on a path to full electrification.
“The tariff review is not about the increase, though it will only affect the top electricity consumers, but establishing a system which will definitely lead to improved service for all at a fair and reasonable price.’’
On the recent adjustment on electricity tariffs and pump price of petrol, the president assured Nigerians that his administration would continue to seek ways and means of cushioning pains occasioned by these developments.
“Nevertheless, I want to assure our compatriots that Government is extremely mindful of the pains that higher prices mean at this time, and we do not take the sacrifices that all Nigerians have to make for granted.
“We will continue to seek ways and means of cushioning pains, especially for the most vulnerable in our midst.
“We will also remain alert to our responsibilities to ensure that marketers do not exploit citizens by raising pump price arbitrarily,’’ he said.
The president assured Nigerians of the willingness and determination of the federal government to provide stable electricity to every home and industry, while considering the economic challenges before individuals, families and businesses.
He explained that the implementation of a “Willing Buyer, Willing Seller Policy” for the power sector had opened opportunities for increased delivery of electricity.
He said that the target of providing 11,000 megawatts by 2023 was realistic and realisable, and would provide a lifeline for many businesses and improve the living conditions of many Nigerians.
Buhari noted that the increase in price of electricity and deregulation of the petroleum sector were crucial decisions that were taken at the beginning of the year, preceding the COVID-19 pandemic.
He, therefore, explained that continuous delay in implementation of the policy of the “Willing Buyer, Willing Seller’’ and deregulation of the petroleum sector would be detrimental to the economy, placing the burden of regular light cuts and fuel queues on Nigerians.
“Implementation of a Willing Buyer, Willing Seller Policy for the power sector has opened up opportunities for increased delivery of electricity to homes and industries.
“We are also executing some critical projects through the Transmission, Rehabilitation and Expansion Programme, which will result in the transmission and distribution of a total of 11,000 Megawatts by 2023.”
On transportation, the president said his administration had embarked on massive reconstruction and rehabilitation of road, rail, air and water transport infrastructure.
He said: “We are growing the stock and quality of our road, rail, air and water transport infrastructure.
“The Presidential Infrastructure Development Fund projects are also progressing very well.
“These include the 11.9 km Second Niger Bridge, 120 km Lagos-Ibadan Expressway, and 375 km Abuja-Kaduna –Zaria–Kano Expressway.
“We are also extending and upgrading our railway networks, as well as our airports which are being raised to international standard with the provision of necessary equipment, to guarantee world class safety standard.’’
The President said the COVID-19 pandemic led to severe downturn in the funds available to finance the nation’s budget.
“One of the steps we took at the beginning of the crisis in March, when oil prices collapsed at the height of the global lockdown, was the deregulation of the price of Premium Motor Spirit (PMS) such that the benefit of lower prices at that time was passed to consumers.
“This was welcome by all and sundry. The effect of deregulation though is that PMS prices will change with changes in global oil prices.
“This means, quite regrettably, that as oil prices recover, we will see some increases in PMS prices. This is what has happened now. When global prices rose, it meant that the price of petrol locally will go up.
“There are several negative consequences if government should even attempt to go back to the business of fixing or subsidising PMS prices. First of all, it will mean a return to the costly subsidy regime.
“Today, we have 60 per cent less revenues; we just cannot afford the cost. The second danger is the potential return of fuel queues – which has, thankfully, become a thing of the past under this administration.
“Nigerians no longer have to endure long queues just to buy petrol, often at highly inflated prices.
“Also, as I hinted earlier, there is no provision for fuel subsidy in the revised 2020 budget, simply because we are not able to afford it, if reasonable provisions must be made for health, education and other social services.
“We now simply have no choice.’’
On security, the president said the federal government had increased investments in arms, weapons and other necessary equipment and expanded the National Command and Control Centre to 19 States of the Federation to address security challenges in the country.
He also expressed the hope that the establishment of the Nigerian Police Trust Fund would significantly improve funding for the Nigeria Police Force.
“Nigeria’s law enforcement agencies have significantly scaled up their footprint across the country. As part of the efforts towards strengthening our internal security architecture, the Ministry of Police Affairs was created,” he stated.
