President-elect Muhammadu Buhari on Tuesday said he would end fuel subsidies and the oil and gas sector would be reformed as a matter of priority in order to attract new investments.

Unveiling his economic policies at a Lagos Business School breakfast meeting, he added that he would run a very lean government, which would involve rationalising overlapping and redundant ministries, departments and agencies (MDAs) in line with the Steve Oronsaye presidential committee report.

Buhari, who was represented by former Ekiti State Governor, Dr. Kayode Fayemi, at the meeting however disclosed that there would be very little action from his administration until October, partly due to what he ascribed to the fact that President Goodluck Jonathan is the author of the 2015 budget.

He said the federal government under the All Progressives Congress (APC) would seek “to align the electoral and fiscal calendars to avoid this type of problem in future”.
He informed his audience that the cardinal agenda of the government and their over-arching themes would be security, fighting corruption and unemployment.

“We believe that corruption has a very strong negative link to both security and unemployment,” he said.

He said there would be no real action until October partly because the 2015 budget “is Jonathan’s and may be fully approved in April. A very lean government is the focus, largely in line with the Steve Oronsaye presidential committee report. This report was available to the Jonathan government, but the will to implement it was absent”.

He promised that a cabinet would be announced very quickly within one week of inauguration.
“Anyone with a whiff of corruption or any kind of taint will not be in the cabinet. Our manifesto will reflect zero tolerance for corruption,” he said.

He acknowledged that the APC “is not a conclave of cardinals, as it includes the good, the bad and the ugly,” noting that in Nigeria, the bad and the ugly could be the biggest electoral assets, though the new government “will not interfere with law enforcement agencies or the judiciary even if APC members are involved in corrupt practises”.

He added that the Vice-President-elect, Prof. Oluyemi Osinbajo, did a lot of work as the Attorney-General and Commissioner for Justice in Lagos State, assuring Nigerians that he would bring his experience to revamp and strengthen the judiciary to complement the anti-corruption drive and the rule of law. “He will also anchor the economic committee,” he said.

He promised that his government would continue with some of the programmes in the Jonathan administration, which were successful.
“For example, agriculture, though there would be a stronger collaboration between the federal and state governments,” he said.

He also spoke on his plan to consolidate such anti-corruption agencies as the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC), among others.

According to him, rather than strengthen key anti-corruption agencies like EFCC, ICPC and SFI, they are likely to be consolidated and a single entity would be made more effective.

“We believe Central Bank of Nigeria (CBN) is getting over-burdened by developmental finance issues at the expense of its core objectives; this will be changed,” he said.
He said the subsidy on petroleum products would certainly go and the industry would be reformed as a matter of priority in order to attract new investments.

“While power reform has been commendable and will continue, the approach will change,” Buhari said.
He explained that power transmission would be deregulated, regionalised and privatised in order “to break down centralised transmission, while the issues of gas supply to Gencos will be addressed.

“But the new government believes that Discos are the biggest bottlenecks presently. The government plans to add on 4,000 MW of power every year and expect that output will reach a minimum of 12,000 MW at the end of his tenure”.
He said the party’s groundwork showed that N3 trillion in savings could come out of plugged leakages, noting that the employment drive would be private sector led.

“The government will allow market forces to prevail, including in the foreign exchange regime,” he said.
The president-elect debunked speculations that he would use fiat to fix the foreign exchange, adding, however, that the government would keenly seek to protect the more economically vulnerable segments of the society.

He added that there would be a tightening of the tax noose, though there would be no tax increase.
“The Federal Internal Revenue Service (FIRS) will be strengthened and the LASG IGR template will be adopted at the national level,” he stated.

Buhari acknowledged that the country’s infrastructure gap required huge capital outlay, which the government does not have, but promised to develop a master plan for infrastructure development.

Source: http://www.thisdaylive.com/articles/buhari-to-end-fuel-subsidy-rationalise-mdas/206829/

Good for him

hope all these agenda are for real? Buhari no fall our hand o

Summary

1. Fuel Prices to go up soon (even though GMB and APC criticized GEJ and instigated public protest against this in 2012).

2. Mass sacking of workers in MDAs.

3. GMB clueless about what to do until October 2015.

4. GMB to focus on insecurity, corruption and unemployment (But still cannot tell us how he will do this. I hope he's not thinking that merging EFCC, ICPC would automatically translate to fighting corruption. Meanwhile, in other news, GMB already saying "don't expect magic from me"

5. Our manifesto reflects zero tolerance for corruption. (I hope Amaechi, Fashola and Tinubu are going to jail for stealing from Rivers and Lagos State to fund political campaigns).

6. Some of GEJ's programmes e.g agriculture and power reforms were SUCCESSFUL and would be CHANGE CONTINUED. (I thought he said the GEJ's government was a failure).

7. Tinubu's Alpha Beta template for tax collection now to be used nationwide. (Hmnn...Asiwaju don hammer!. Now you know why the passionate kissing of Oluremi "the slowpoke" Tinubu)

i will never support a lost cause

i believe in change
change is here
Nigeria will be great again

LordTudor:
Summary

1. Fuel Prices to go up soon (even though GMB and APC criticized GEJ and instigated public protest against this in 2012).

2. Mass sacking of workers in MDAs.

3. GMB clueless about what to do until October 2015.

4. GMB to focus on insecurity, corruption and unemployment (But still cannot tell us how he will do this. I hope he's not thinking that merging EFCC, ICPC would automatically translate to fighting corruption. Meanwhile, in other news, GMB already saying "don't expect magic from me"

5. Our manifesto reflects zero tolerance for corruption. (I hope Amaechi, Fashola and Tinubu are going to jail for stealing from Rivers and Lagos State to fund political campaigns).

6. Some of GEJ's programmes e.g agriculture and power reforms were SUCCESSFUL and would be CHANGE CONTINUED. (I thought he said the GEJ's government was a failure).

7. Tinubu's Alpha Beta template for tax collection now to be used nationwide. (Hmnn...Asiwaju don hammer!. Now you know why the passionate kissing of Oluremi "the slowpoke" Tinubu)

are you that pained that you no longer desire a better life?
Better dont bring a curse upon yourself
thank me later

LordTudor:
Summary

1. Fuel Prices to go up soon (even though GMB and APC criticized GEJ and instigated public protest against this in 2012).

2. Mass sacking of workers in MDAs.

3. GMB clueless about what to do until October 2015.

4. GMB to focus on insecurity, corruption and unemployment (But still cannot tell us how he will do this. I hope he's not thinking that merging EFCC, ICPC would automatically translate to fighting corruption. Meanwhile, in other news, GMB already saying "don't expect magic from me"

5. Our manifesto reflects zero tolerance for corruption. (I hope Amaechi, Fashola and Tinubu are going to jail for stealing from Rivers and Lagos State to fund political campaigns).

6. Some of GEJ's programmes e.g agriculture and power reforms were SUCCESSFUL and would be CHANGE CONTINUED. (I thought he said the GEJ's government was a failure).

7. Tinubu's Alpha Beta template for tax collection now to be used nationwide. (Hmnn...Asiwaju don hammer!. Now you know why the passionate kissing of Oluremi "the slowpoke" Tinubu)

You sure say your eye still dey work with your brain?

Suffering and smiling

The IMF stooge is set to cause mass austerity and cut employment in anticipattion of getting an IMF loan package.

Buhari did the same thing in 1983 where he cut funding on MDAs, placed an embargo on employment, promotions and allowances in order to repay IMF loans.



Fayemi of all people represented Buhari in the summit.

Get ready for an end to fuel subsidy, mass sacks and poverization of the civil service.
The newly constituted NLC executives are pro APC and where hand picked by the APC so don't expect them to mince a word.

All the positive gains from the past 6 yrs are about to be discarded. Federal civil servants can expect the same treatment metted on their state counterparts in the SW controlled APC.

This is change!

crownprince102:

You sure say your eye still dey work with your brain?

He is right you know?

The collective foolishness of the SW with Tinubu robbing them blind has been exported to the centre.

If Fayose can pay civil servants why can't Fayemi or Aregberascal do the same?

No where did Fayemi mention cuts in federal legislators allowances and political office holders.

Tinubu is on life pension with monthly renumeration equal to that of a serving governor.

These people are wicked and heartless and their blind followers are by far the ones who will suffer the most because of their foolishness

Washington's sole purpose of supporting this stooge government is to steer Nigeria back to the dollar.


Dangling a juicy IMF loan package that will tie down our Nation for the next 40yrs in debt to JP Morgan thereby ensuring the dollar remains our means of trade.

I warned about this in this thread https://www.nairaland.com/2251899/buhari-set-cancel-strategic-chinese#32641934 but got stoned by the APC zombies.

The SW and northern Plebs have commited plebiscide.

Enjoy your poverty

Politicians will always be what they are, using the gullible masses as their pawns in the game of chess with only one intention...to protect their interest.

Unemadu:
Politicians will always be what they are, using the gullible masses as their pawns in the game of chess with only one intention...to protect their interest.

The APC are not politicians but criminals and traitors.

Obasanjo was activated to ensure a Buhari win by his handlers.

The likes of Obasanjo, Tinubu, MKO and Soyinka are all CIA conteolled assests.

Nigeria is plagued by selfish foolish men who will sell their own for a mirror and a cask of gin.

PPAngel:


He is right you know?

The collective foolishness of the SW with Tinubu robbing them blind has been exported to the centre.

If Fayose can pay civil servants why can't Fayemi or Aregberascal do the same?

The trash he wrote wasn't related to the thread.


Benue also couldn't pay workers salary. Why are you not blaming Suswam.

crownprince102:

The trash he wrote wasn't related to the thread.


Benue also couldn't pay workers salary. Why are you not blaming Suswam.

Benue man only thinks of his stomach

They voted against Jonathan not because of only ineffective govt but because of the Security situation in Benue as well as the political rift in the PDP.

The Fulani herdsmen ravaging the middle belt will be assuaged by Buhari by allocating grazing routes and reserves in south Kaduna, Benue, Taraba, Nassarawa and Plateu.

They have since catipulated to the Caliphate and were used to living as slaves in their own lands.
This is a classic case of stockholm syndrome where the victim admires his tormentor.

Let's just keep praying for this guy. So that the powers that be can let him work

PPAngel:
Suffering and smiling

The IMF stooge is set to cause mass austerity and cut employment in anticipattion of getting an IMF loan package.

Buhari did the same thing in 1983 where he cut funding on MDAs, placed an embargo on employment, promotions and allowances in order to repay IMF loans.

Fayemi of all people represented Buhari in the summit.

Get ready for an end to fuel subsidy, mass sacks and poverization of the civil service.
The newly constituted NLC executives are pro APC and where hand picked by the APC so don't expect them to mince a word.

All the positive gains from the past 6 yrs are about to be discarded. Federal civil servants can expect the same treatment metted on their state counterparts in the SW controlled APC.

This is change!

What positive gain ?

I thought the subsidy ish was condemned by these same people when GEJ brought an end to it.

Well, if all your reforms betters Nigeria, I'm up for it.

From John West (comment on this day 5hours ago)



There is really nothing new in the APC policy proposals and it appears that the implementation of the policies of President Goodluck Jonathan is the cardinal policy of this new Government. This in itself is not bad at all, but the question is that , if these policies are desirable to the incoming Government, while then were they the basis for castigating the outgoing Government?

The Steve Orosanye report was not fully implemented because of the negative anticipated reactions from the usual suspects who believe that only Government can provide jobs for them and their people. I am really looking forward to the reactions of these people , when their man becomes the grim reaper, throwing them and their minions out of Government jobs.

Ha! Ha! Ha!!! So Buhari will remove fuel subsidy? Wonders will never end!! What will the APC supporters who occupied Lagos to protest the same policy in 2012 now do to their super hero?
Bottom line, I am quite gladdened to see that the APC Government will continue with the general thrust of the serially maligned Jonathan administration, the best Government , warts and all, in the checkered history of this Tower of Babel of a country.

For one thing, I applaud incoming President BUHARI for having the courage to admit indirectly, through the policies enunciated by Dr Fayemi, that he really has nothing new to offer the country and that all that noise about change was a simple power grab in the manner of his ancestors. Accuse the incumbent rulers of corruption and set the people against them, then sneak in like a thief in the night to steal power, in order to perpetrate even greater corruption and evil. . I shudder at the prospects for this country with all these policy flip flops even before the inauguration, but then like the basic principle of Law admonishes,"YOU CANNOT GIVE WHAT YOU DO NOT HAVE".

From Curx MAccido (comment on this day)
Jonathan apologist!...so running a lean government, clear statement on eradication of corruption, removal oil subsidy, power reform through transmission decentralization, agriculture reforms, revenue mobilization, employment and refineries activation are all jonathan program....spare us of your crappy comments. 16 years of pdp government has taken us this far, let's have others give it a shot and stop confusing yourself, be patient!

austinkenneth:
From Curx MAccido (comment on this day)
Jonathan apologist!...so running a lean government, clear statement on eradication of corruption, removal oil subsidy, power reform through transmission decentralization, agriculture reforms, revenue mobilization, employment and refineries activation are all jonathan program....spare us of your crappy comments. 16 years of pdp government has taken us this far, let's have others give it a shot and stop confusing yourself, be patient!

Rubbish!

You APC zombies reek of hypocrisy and double standards

When GEJ removed subsidy you goats shouted till high heaven

When Ngozi insisted on saving through budget based on a low oil benchmark you zombies shouted that there was no need to save since we were experiencing a boom.

I thought your Buhari campaigned on 10 naira per litre ?

I am waiting for the APC govt to tell us why taken an IMF loan is a good thing.

The first to be scrapped Mr President- elect should be The National Orientation Agency! They did absolutely nothing to sensitize the public about the just concluded general elections.

.

Chai! We don enter one chance. Waiting for the Ojota protesters

Strongfaze:
The first to be scrapped Mr President- elect should be The National Orientation Agency! They did absolutely nothing to sensitize the public about the just concluded general elections.

Don't forget that free oil has come to an end. The naira will be devalued further so you can expect the landing cost on imported fuel to spike so you should expect at least 190 per litre.

This is your first stage weaning program from ND oil.

Sai Buhari

Agenuine intension to remove fuel subsidy by Gej was rebuffed by all labour organisation in nigeria in 2012. Those who suppose to know better that subsidy is a fraud even organised macaba dance in Lagos then. Fashola also made much mockery of himself in d public as a result. At d end it was only partially removed Lets see if we are now matured for it now. Sychophats still arround.