President Jonathan presents Mid-Term Report, urges objective assessment of Administration

[FMINigeria]

                        President Goodluck Jonathan, Wednesday, presented his Administration's Mid-Term Report stating that in spite of the security challenges of the country, Nigeria remains the favourite investment destination in Africa.

The President also urged Nigerians to be objective in assessing his administration and members of his cabinet and use appropriate criteria to score his government's performance.

Speaking at the International Conference Centre, Abuja, as part of activities to mark this year's Democracy Day, President Jonathan said "A number of comments about the performance of this administration are based on the heartbeat of people. Those who want to write and assess should prepare their marking scheme, compare with previous government".

He said his administration decided to present the mid-term report as part of the Democracy Day celebrations because the day was not just a public holiday, but an opportunity for stocktaking on the meaning, gains and sustainability of democracy.

President Jonathan, Vice-President Namadi Sambo, the Secretary to the Government of the Federation (SGF), Anyim Pius Anyim, Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, as well as her counterpart in the Ministry of National Planning, Dr. Shamsudeen Usman, all insisted that despite the challenges facing the nation, the administration had done well so far in giving Nigerians dividends of democracy.

Jonathan said the economy had attracted a lot of Foreign Direct Investments (FDIs), recorded an impressive growth in Gross Domestic Product (GDP) and surpassed its annual growth rate in eight out of the 14 broad areas of the transformation agenda.

He said Nigeria's global GDP ranking had improved from the 44th position in 2010 to 36th position presently.

Earlier in his welcome address, Vice President Namadi Sambo, in his speech at the occasion, urged the political elite not to politicize the issue of security in the country but to cooperate with the Federal Government in tackling them.

Blaming the current security challenges on external influences, the Vice-President said what had metamorphosed into an insurgency in the north began as a local issue before the inception of the present government.

Since the inception of the Jonathan administration, Sambo said it had been a deliberate policy of the government to expand the democratic space, entrench good democratic values and meet the needs and aspirations of the people.

According to him, the administration in the last two years has concentrated its energy and resources on rebuilding public infrastructure and constructing new ones. The Jonathan administration, he said, had also been committed to building a nation united at home and respected abroad.

In her presentation, the Finance Minister, Dr. Okonjo-Iweala said the economy remained strong. According to her, the current growth rate of Nigeria's GDP makes it one of the fastest growing economies in the world. She noted that the exchange rate of the naira to other currencies has remained stable while inflation has slowed down to 9.1 percent from 12.4 percent in 2011, while External Reserves have risen from 32.08 billion US dollars in May 2011 to 48.4 billion.

Okonjo-Iweala said the Administration has also cut the cost of governance in line with its policy of reducing recurrent expenditure and completing unfinished capital projects.

According to the Finance Minister, government's annual borrowing had fallen from 852 billion naira in 2011 to 588 billion naira in 2013, while debt to GDP has remained at 21 percent, the lowest among its peers.

Speaking further, the Minister said government was focusing on sectoral waivers rather than granting waivers to individuals and had implemented zero duty waivers which she said has impacted positively on agriculture, power, aviation and solid minerals.

Okonjo-Iweala said "Trade has improved, imports are down and exports are on the increase, particularly non-oil exports, which has increased from nine per cent of total exports in 2008 to 31 per cent in 2012. Oil exports are now 69 per cent of Nigeria's total exports as against 91 per cent in 2008.

"The implementation of the procurement policy has also been stepped up to prevent corruption. We have introduced aggressive monitoring of contract thresholds, increased awareness, encouraged whistle blowing and introduced stiffer penalties for those who flout the laws".

Okonjo-Iweala pointed out that the strong economic performance has received international endorsement as Nigeria's credit ratings by international agencies have improved. She stated that Nigeria attracted about $7 billion worth of foreign investments in 2012 alone.

In addition, the Minister said the Administration had put in place a new petroleum subsidy payment regime, which has helped to stem leakages in the system.

According to her, the Excess Crude Account (ECA), which also rose from about $4 billion in the last two years to around $9 billion as at the end of 2012, has now been depleted to about $6 billion.

"The ECA now is helping us since oil production has fallen from the projected 2.53 million barrels per day (bpd) to between 2.1 million -2.2 million bpd," she added.

In order to cushion the effect of emergencies, the Minister said the Administration had set aside the sum of 1 billion U.S Dollars for investment under the Sovereign Wealth Fund (SWF).

In his presentation, the Minister of National Planning, Dr. Shamsudeen Usman said the President had at the inauguration of his Administration in 2011, launched a developmental blueprint with programmes and timelines.

According to Usman, Jonathan had raised the bar in Good Governance in Nigeria because he not only kept faith with the Transformation Agenda but he deemed it fit to render an account of his stewardship mid-way into his four-year tenure.

For instance, he said after close to 30 years of the collapse of the Nigeria Railway Corporation (NRC), the rail tracks have been rehabilitated and the trains have started working.

In addition, Usman said there had been significant reforms in the power sector resulting in more stable power supply.

The SGF, Senator Anyim, in his speech, noted that the government during the period under review had guaranteed the rule of law, press freedom, ensured the protection of the rights of the citizens and encouraged popular participation through engagement of the opposition and Civil Society Organisations.

He however lamented that this freedom has been abused in some instances by those who failed to appreciate the gesture of government and its efforts to sustain and deepen democracy.

Also assessing the Jonathan administration at the presentation of the mid-term report, American civil rights activist, Rev. Jesse Jackson, described the transparency of the president as unequalled in contemporary democracy and urged Nigerians to rally round him in order to entrench democracy and good governance in the country.

He said the black race had so many expectations from Nigeria as the most populous black nation on earth and these expectations had to be justified through the implementation of programmes, which would improve quality of lives and inspire citizens to be productive.

According to him, with the presentation of the mid-term report, it is obvious that the ship of the Nigerian nation is sailing on the right course and needs to be supported by every Nigerian.

Also, former head of the interim government in Liberia, Prof. Amos Sawyer, commended Nigeria's leading role in peacekeeping operations in Africa and urged political leaders to bury their differences, especially at moments of national challenges.

He expressed satisfaction that Nigeria was among the best countries conforming to the highest standard expected of the members of the African Peer Review Mechanism (APRM).

Tagged 'One people and One Nation', in anticipation of the centenary celebrations, the Mid-Term Report Presentation was attended, among others, by Senate President David Mark; his deputy, Senator Ike Ekweremadu, Deputy Speaker of the House of Representatives, Hon. Emeka Ihedioha, who represented the Speaker, National Chairman, Peoples Democratic Party (PDP), Alhaji Bamanga Tukur; and PDP Board of Trustees (BOT) Chairman, Chief Tony Anenih, Former Head of State, Gen. Yakubu Gowon, Former President, Shehu Shagari, and Former Head of Interim National Government, Chief Ernest Shonekan among others.

Via: Federal Ministry of Information (FMI) Nigeria

[Shola Sholaz]

President Jonathan still has a lot to do for this country for things to be better. I feel he is still lacking in some area.