goodluck addresses the nation

NATIONAL BROADCAST BY PRESIDENT GOODLUCK EBELE JONATHAN, GCFR, ON THE DEREGULATION OF THE DOWNSTREAM PETROLEUM SECTOR SATURDAY,
by Goodluck Jonathan on Saturday, January 7, 2012 at 9:04pm

NATIONAL BROADCAST BY PRESIDENT GOODLUCK EBELE JONATHAN, GCFR, ON THE DEREGULATION OF THE DOWNSTREAM PETROLEUM SECTOR SATURDAY,  JANUARY 7, 2012

<a href="http://www.youtube.com/watch?v=cVxxdvxWVnw&amp;feature=player_embedded" target="_blank" class="aeva_link bbc_link new_win">http://www.youtube.com/watch?v=cVxxdvxWVnw&amp;feature=player_embedded</a>

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Dear Compatriots,

    1.    A week ago, I had cause to address Nigerians on the security challenges we are facing in parts of the country, which necessitated the declaration of a state of emergency in 15 Local Government Areas in four states of the Federation. That course of action attracted widespread support and a demonstration of understanding. With that declaration, government had again signaled its intention to combat terrorism with renewed vigour and to assure every Nigerian of safety.

 

    2.   The support that we have received in the fight against terrorism from concerned Nigerians at home and abroad has been remarkable. We believe that it is with such continued support that progress can be made on national issues. Let me express my heartfelt appreciation to everyone who has expressed a commitment to support us as we strive to improve on the country’s security situation, and build a stronger foundation for the future.  The recent mindless acts of violence in Gombe, Potiskum, Jimeta-Yola and Mubi are unfortunate. I urge all Nigerians to eschew bitterness and acrimony and live together in harmony and peace. Wherever there is any threat to public peace, our security agencies will enforce the law, without fear or favour.

 

    3.   This evening, I address you, again, with much concern over an issue that borders on the national economy, the oil industry and national progress.  As part of our efforts to transform the economy and guarantee prosperity for all Nigerians, Government, a few days ago, announced further deregulation of the downstream petroleum sector. The immediate effect of this has been the removal of the subsidy on petrol.

 

    4.   Since the announcement, there have been mixed reactions to the policy. Let me seize this opportunity to assure all Nigerians that I feel the pain that you all feel.  I personally feel pained to see the sharp increase in transport fares and the prices of goods and services. I share the anguish of all persons who had travelled out of their stations, who had to pay more on the return leg of their journeys.

 

   5.   If I were not here to lead the process of national renewal, if I were in your shoes at this moment, I probably would have reacted in the same manner as some of our compatriots, or hold the same critical views about government.  But I need to use this opportunity as your President to address Nigerians on the realities on the ground, and why we chose to act as we did. I know that these are not easy times. But tough choices have to be made to safeguard the economy and our collective survival as a nation.

 

    6.    My fellow Nigerians, the truth is that we are all faced with two basic choices with regard to the management of the downstream petroleum sector: either we deregulate and survive economically, or we continue with a subsidy regime that will continue to undermine our economy and potential for growth, and face serious consequences.

 

    7.   As you all know, the subject of deregulation is not new, we have been grappling with it for more than two decades. Previous administrations tinkered with the pump price of petroleum products, and were unable to effect complete deregulation of the downstream sector. This approach has not worked.  If it did, we would not be here talking about deregulation today. I understand fully well that deregulation is not a magic formula that will address every economic challenge, but it provides a good entry point for transforming the economy, and for ensuring transparency and competitiveness in the oil industry, which is the mainstay of our economy.  

 

    8.   As a President, elected and supported by ordinary Nigerians, and the vast majority of our people, I have a duty to bring up policies and programmes that will grow the economy and bring about greater benefits for the people.  Let me assure you that as your President, I have no intention to inflict pain on Nigerians.

 

 

    9.    The deregulation of the petroleum sector is a necessary step that we had to take. Should we continue to do things the same way, and face more serious economic challenges? Or deregulate, endure the initial discomfort and reap better benefits later? I want to assure every Nigerian that whatever pain you may feel at the moment, will be temporary.  

 

    10.               The interest of the ordinary people of this country will always remain topmost in my priorities as a leader. I remain passionately committed to achieving significant and enduring improvements in our economy that will lead to sustained improvement in the lives of our people.

 

 

    11.               I am determined to leave behind a better Nigeria, that we all can be proud of. To do so, I must make sure that we have the resources and the means to grow our economy to be resilient, and to sustain improved livelihood for our people. We must act in the public interest, no matter how tough, for the pains of today cannot be compared to the benefits of tomorrow.  On assumption of office as President, I swore to an oath to always act in the best interest of the people. I remain faithful to that undertaking.

 

    12.                To save Nigeria, we must all be prepared to make sacrifices.  On the part of Government, we are taking several measures aimed at cutting the size and cost of governance, including on-going and continuous effort to reduce the size of our recurrent expenditure and increase capital spending. In this regard, I have directed that overseas travels by all political office holders, including the President, should be reduced to the barest minimum. The size of delegations on foreign trips will also be drastically reduced; only trips that are absolutely necessary will be approved.  

 

    13.               For the year 2012, the basic salaries of all political office holders in the Executive arm of government will be reduced by 25%. Government is also currently reviewing the number of committees, commissions and parastatals with overlapping responsibilities. The Report on this will be submitted shortly and the recommendations will be promptly implemented. In the meantime, all Ministries, Departments and Agencies must reduce their overhead expenses.

 

    14.               We are all greatly concerned about the issue of corruption. The deregulation policy is the strongest measure to tackle this challenge in the downstream sector. In addition, government is taking other steps to further sanitize the oil industry.  

 

    15.               To ensure that the funds from petroleum subsidy removal are spent prudently on projects that will build a greater Nigeria, I have established a committee to oversee the implementation of the Subsidy Reinvestment and Empowerment Programme. I sincerely believe that the reinvestment of the petroleum subsidy funds, to ensure improvement in national infrastructure, power supply, transportation, irrigation and agriculture, education, healthcare, and other social services, is in the best interest of our people.

 

    16.               Fellow Nigerians, I know that the removal of the petroleum subsidy imposes an initial burden on our people, especially the rising cost of transportation.  Government will be vigilant and act decisively to curb the excesses of those that want to exploit the current situation for selfish gains.  I plead for the understanding of all Nigerians.  I appeal to our youth not to allow mischief-makers to exploit present circumstances to mislead or incite them to disturb public peace.

 

    17.                To address the immediate challenges that have been identified, I have directed all Ministries, Departments and Agencies of government to embark immediately on all projects which have been designed to cushion the impact of the subsidy removal in the short, medium and long-term, as outlined in the Subsidy Reinvestment and Empowerment Programme Document.

 

   18.                Tomorrow, 8th January, I will formally launch a robust mass transit intervention programme to bring down the cost of transportation across the country. The programme will be implemented in partnership with state and local governments, labour unions, transport owners, and banking institutions, and  supported with the provision of funding at zero interest rate as well as import duty waiver on all needed parts for locally-made mass transit vehicles, which will create additional jobs in the economy.

 

    19.               We will keep these incentives in place for as long as it takes. I want to assure you that Government will not rest until we bring down the cost of transportation for our people.  Let me thank the transporters’ associations that have agreed to reduce transport fares. I have directed the Minister of Labour and Productivity to work with these associations to come up with a sustainable plan to guarantee this within the shortest possible time.

 

    20.                In addition, I have ordered the mobilization of contractors for the full rehabilitation of the Port Harcourt –Maiduguri Railway Line and the completion of the Lagos-Kano Railway Line. I have also directed the immediate commencement of a Public Works programme that will engage the services of about 10, 000 youths in every state of the Federation and the Federal Capital Territory. This will create an additional 370, 000 jobs.

 

    21.               Government has taken these decisions in the best interest of our economy, so that we not only have benefits today, but to ensure that we bequeath even greater benefits to our children and grandchildren.

 

    22.                Let me assure Nigerians that every possible effort will be made to ensure that we march forward, with a collective resolve to build a Nigeria that can generate greater economic growth, create and sustain new jobs, and secure the future of our children.  

 

    23.                This Administration will aggressively implement its programme to reposition and strengthen our economy, while paying adequate attention to the immediate needs of our citizens.

 

    24.                I assure you all that we will work towards achieving full domestic refining of petroleum products with the attendant benefits.

 

 

    25.                As I ask for the full understanding of all Nigerians, I also promise that I will keep my word.

 

    26.               Thank you. May God bless you; and may God bless the Federal Republic of Nigeria.

 

Goodluck Ebele Jonathan, GCFR

President

Federal Republic of Nigeria

January 7, 2012

Posted: at 8-01-2012 12:02 AM (12 years ago) | Newbie

no need to even read
na result i want

Posted: at 8-01-2012 12:18 AM (12 years ago) | Gistmaniac

there was a man called,,Goodluck Ebele Jonathan.

Posted: at 8-01-2012 01:52 AM (12 years ago) | Newbie

Na Real?

Posted: at 8-01-2012 05:46 AM (12 years ago) | Gistmaniac

I don talk am say dis man no dey send at all. E don be 4 us gbam.

Posted: at 8-01-2012 07:04 AM (12 years ago) | Newbie

GEJ has failed us. We did nt bargain for this.

Posted: at 8-01-2012 08:35 AM (12 years ago) | Newbie

ONCE AGAIN MR PRESIDENT
Nigerians are ready to take and move the nation forward only if you remove the fuel subsidy and replace it with the concept of meeting the 3 basic amenities of life which are essential for any nation's good growth and development. they are:
1)feeding
2)clothing
3)shelther
DO,something to boost these sectors and not just telling nigerians to do some sacrifice all in the name of wanting to boost the economy by impoverishing the masses further..
Think about this,more than 85% of the nation's population manage poverty,penury and misery with hope of a prospective change in the near future and now you just added more insult to injury.do you think nigerians will complain if they can bear it??? all in the name of making sacrifice??
IF Nigeria as a nation hasn't got oil to depend on as a leverage,what will you do or what would nigerians have done??won't they think of an alternative to forge ahead??perhaps agriculture or practice mixed economic program....learn from malaysia and singapore.they got their independence about the same period we have ours yet they have forged ahead and we haven't.....

Posted: at 8-01-2012 08:59 AM (12 years ago) | Gistmaniac

I thought diesel in the country wasn't subsidised??for many years now,where is the money generated from the removal of subsidy on diesel??what are/have been the applicable uses of these funds in the country??could the money be in their pocket??or perhaps stashed somewhere like swiss canton bank(switzerland)??......or where??

Posted: at 8-01-2012 09:07 AM (12 years ago) | Gistmaniac

CAN these people really lead NIGERIA...??

Posted: at 8-01-2012 09:09 AM (12 years ago) | Gistmaniac

Many nations of the world subsidised their oil sector heavily e.g algeria($0.41=65 NGN),bahrain($0.27=42NGN),bolivia($0.54=85NGN),brunei($0.39=61NGN),
egypt($0.31=49NGN),ecuador($0.44=69NGN),iraq($0.38=60NGN),
kuwait($0.224=35NGN),libya($0.17=27NGN),venezuela($0.023=3NGN) and a host of other nations.take a good look at the exchange rate in naira of how these nations subsidize their oil per liter.The so called goodluck administration,some now even call it badluck administration, decided to remove the fuel subsidy without seeking clarity from the masses or putting the welfare of the masses into a thorough consideration.A nation where more than 85% of her nationals lives,wallow and rubble in abject poverty and said to live with less than 2 dollars a day,happens to be below their myopic eyesights and weak brain(s).removal of fuel subsidy can only be accepted by the masses if there is a payraise(salary),evaluation/appreciation of the naira currency,the subsidisation of the agricultural sector and lots more.....
Today,many countries in europe have limited resources and others hadly have one.
A country like the netherlands,in europe is the world 3 largest agricultural exporter behind usa and france.the netherland annual profit from agriculture totals about 55billion dollars or more yearly.which is approximately 8.250 trillion naira yearly in the nigerian currency i.e if we peg the dollar at 150.(what about the technological and other sectors of the netherland??)nigeria in terms of land size/mass,area covered per square kilometres should be nearly 8times larger than the netherlands,nigeria is about, total area: 356,667 sq mi (923,768 sq km),while netherland is about 41,526 sq km (16,033 sq mi)now tell me how on earth is a country like netherland able to become the world third largest agricultural exporting economy given the fact that if the entire nation of netherland is placed 8times together will give you the entire state of nigeria......??Thailand has been, and is still the world largest rice exporting nation earning several billions of dollars annually from rice export alone.
                                                      BACK TO NIGERIA
According to NNPC, Nigeria produces 2.4 million barrels of crude oil per day as a current figure but as per say,lets peg a barrel of oil to be 90 dollars shall we?(in OPEC).approximately 2million barrels is been exported with the latter for the nations refining and consumption.let's solve mathematics here shall we?? 2.0x90=180million dollars that nigeria earn per day from oil.in 30days, which is in a month,nigeria will have about 180x30=5.400billion dollars in a month now on annual basis(yearly),Nigeria will have 5.400x12months=64.80billion dollars which is roughly 9.720trillion naira,(i.e,should we get to peg the dollar to 150).don't think about the money fellas cause it may sprain your brain such amount of money is possessed only by a handful such as bill gate,warren buffet etc....
Now,we all know that our annual budget fiscal deficit for a year or every year is staggering around 3-4trillion naira and nigeria make close to 10trillion naira yearly from only oil sales alone.what about her other sectors??please,peeps let's all ask our govt where is the remaining 6trillion naira??in Nigeria's central bank??world bank??if so,why can't they take out some scrap of reasonable funds from the remaining excesses and make tangible use of it in the country??the least GEJ and his administration could come up with,was to remove the fuel subsidy.that speaks so much of their nefarious habit,erroneous/porous cogitation faculty which is nothing but solely based on destructive logic,and its so much for the purpose of goodluck been the president.

I can't continue any further lamentation so i rest my case......

          I am however,subject to correction and improvisation therefore employ discretion where possible............

Posted: at 8-01-2012 09:27 AM (12 years ago) | Gistmaniac