[size=14pt]Jonathan pledges accelerated diversification scheme for Nigeria's economy[/size]
From Lawrence Njoku, Enugu

FOR the upteenth time, the Federal Government has expressed its resolve to revitalise the nation's economy, through a strategic diversification scheme, to end its current monocultural profile.
Consequently, a new focus on non-oil exports, which had being on the card over the years, will now be pursued.

Acting President Goodluck Jonathan, who made the disclosure while flagging off the 21st Enugu International Trade Fair in Enugu at the weekend, also stated that government had released a N10 billion out of the funds earmarked in this year's budget, for the purpose of resuscitating the textile industry in the country.

He stressed that by the time the industry has been fully revived, it would be capable of generating jobs for thousands of unemployed youths and thereby greatly impact on the economy.

Represented by the Permanent Secretary of the Federal Ministry of Commerce and Industry, Alhaji Abubakar Mohammadu, Jonathan said that the present administration was determined to address the challenges facing the real sector of the nation's economy in order to ameliorate the impact of the global economic crisis on Nigeria.

He therefore called on stakeholders, especially the private sector operators, to join hands to ensure that the strengthening and re-engineering of the economy, to make life more comfortable for the nation's teeming population.

While stressing the need for dynamic and institutional frameworks that would assist in resuscitating ailing industries to be put in place, the Acting President stated that some of the industries which have failed could still be revived through structural rehabilitation, adoption of better technology, improved operational guidelines and focused strategy.

"The creation of an enabling environment for the private sector has been the priority of this administration," he noted, adding that government had resolved to frontally address the infrastructural challenges, especially the issue of power generation and distribution.

While saying that no efforts would be spared in ensuring timely completion of the ongoing Independent Power Projects across the country, Jonathan revealed that the federal executive council recently awarded contracts for the rehabilitation of 25 major roads spread across the six zones of the country.

In his speech earlier, the President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture, (ECCIMA), Okechukwu Nwadinobi expressed delight that despite serious challenges encountered by the chamber during the planning stage of the fair, the exercise finally took-off and was being held at the permanent site for the first time.

He stated that since trade fairs provide the most visible business promotion and investment platform, the Enugu International Trade Fair promises to live up to expectations.

Speaking on the challenges facing the private sector in the country, especially in the South East, Nwadinobi expressed dismay over the problem of power supply, poor road network, as well as the recent closure of the Akanu Ibiam International Airport due to maintenance work expected to last for one year.

"Baseline research, which was recently carried out amongst our members, revealed a major decline and negative impact arising from the airport closure," he stated, even as he called on major stakeholders, especially the organised private sector, to quickly come together and explore the possibility of building an airstrip for light aircraft within the Enugu area, as a temporary measure.

http://www.ngrguardiannews.com/business/article01/indexn2_html?pdate=220310&ptitle=Jonathan%20pledges%20accelerated%20diversification%20scheme%20for%20Nigeria's%20economy

Jonathan is making all the right noises and moves.

More than anything, we need to set up insitutions and traditions to handle development. We have had neither of these things, all previous administrations have seen development as something ethereal that you pray for or a benevolent ally bestows; I pray sincerely that this one, headed by an intelligent man is different, because Nigerians abound with the skills, vision, brains and doggedness to turn things around; if only we could be harnessed.

Beaf:

[size=14pt]Jonathan pledges accelerated diversification scheme for Nigeria's economy[/size]
From Lawrence Njoku, Enugu

FOR the upteenth time, the Federal Government has expressed its resolve to revitalise the nation's economy, through a strategic diversification scheme, to end its current monocultural profile.
Consequently, a new focus on non-oil exports, which had being on the card over the years, will now be pursued.

Acting President Goodluck Jonathan, who made the disclosure while flagging off the 21st Enugu International Trade Fair in Enugu at the weekend, also stated that government had released a [size=14pt]N10 billion[/size] out of the funds earmarked in this year's budget, [size=14pt]for the purpose of resuscitating the textile industry in the country.[/size]

He stressed that by the time the industry has been fully revived, it would be capable of generating jobs for thousands of unemployed youths and thereby greatly impact on the economy.

Represented by the Permanent Secretary of the Federal Ministry of Commerce and Industry, Alhaji Abubakar Mohammadu, Jonathan said that the present administration was determined to address the challenges facing the real sector of the nation's economy in order to ameliorate the impact of the global economic crisis on Nigeria.

He therefore called on stakeholders, especially the private sector operators, to join hands to ensure that the strengthening and re-engineering of the economy, to make life more comfortable for the nation's teeming population.

While stressing the need for dynamic and institutional frameworks that would assist in resuscitating ailing industries to be put in place, the Acting President stated that some of the industries which have failed could still be revived through structural rehabilitation, adoption of better technology, improved operational guidelines and focused strategy.

"The creation of an enabling environment for the private sector has been the priority of this administration," he noted, adding that government had resolved to frontally address the infrastructural challenges, especially the issue of power generation and distribution.

While saying that no efforts would be spared in ensuring timely completion of the ongoing Independent Power Projects across the country, Jonathan revealed that the federal executive council recently awarded contracts for the rehabilitation of 25 major roads spread across the six zones of the country.

In his speech earlier, the President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture, (ECCIMA), Okechukwu Nwadinobi expressed delight that despite serious challenges encountered by the chamber during the planning stage of the fair, the exercise finally took-off and was being held at the permanent site for the first time.

He stated that since trade fairs provide the most visible business promotion and investment platform, the Enugu International Trade Fair promises to live up to expectations.

Speaking on the challenges facing the private sector in the country, especially in the South East, Nwadinobi expressed dismay over the problem of power supply, poor road network, as well as the recent closure of the Akanu Ibiam International Airport due to maintenance work expected to last for one year.

"Baseline research, which was recently carried out amongst our members, revealed a major decline and negative impact arising from the airport closure," he stated, even as he called on major stakeholders, especially the organised private sector, to quickly come together and explore the possibility of building an airstrip for light aircraft within the Enugu area, as a temporary measure.

http://www.ngrguardiannews.com/business/article01/indexn2_html?pdate=220310&ptitle=Jonathan%20pledges%20accelerated%20diversification%20scheme%20for%20Nigeria's%20economy

What does the part in bold mean? Way too vague so I don't know what there is to actually rejoice about.

Sky Blue:

What does the part in bold mean? Way too vague so I don't know what there is to actually rejoice about.

What is most important is that the govt is seeing the need to build frameworks around the private sector and "creation of an enabling environment for the private sector". The time is too short for very much to be done, but groundwork is being laid and hopefully can be taken forward after 2011.

This is very good news. Diversification of the economy is a must, because the oil that is beneath the ground will not last forever. An overreliance on one commodity leaves any country vulnerable to change in demand. This is Economics 101.

Beaf:

Jonathan is making all the right noises and moves.

More than anything, we need to set up insitutions and traditions to handle development. We have had neither of these things, all previous administrations have seen development as something ethereal that you pray for or a benevolent ally bestows; I pray sincerely that this one, headed by an intelligent man is different, because Nigerians abound with the skills, vision, brains and doggedness to turn things around; if only we could be harnessed.

I can't believe you lol. You are obviously seeing the goodside of this criminal because he is from your ethnic group hehe.

SEFAGO:

I can't believe you lol. You are obviously seeing the goodside of this criminal because he is from your ethnic group hehe.

He is not from my ethnic group.
He is not a criminal.

Beaf:

What is most important is that the govt is seeing the need to build frameworks around the private sector and "creation of an enabling environment for the private sector". The time is too short for very much to be done, but groundwork is being laid and hopefully can be taken forward after 2011.

You know this how?? I really do have to ask again what "for the purpose of resuscitating the textile industry" means. I am tired of hearing vague rubbish. What is the 10billion going to be used for?? ?? ?? If you don't have the answer then there is no need to respond, I was simply thinking aloud.

lol textile industry. They don chop our money finish.

Beaf:

He is not from my ethnic group.
He is not a criminal.

He is from your region. He is a criminal lol. You think na clean hands u use to enter the naija governemnt

if you want to diversify the nigerian economy it has to be 'forced'