Secretary to the Government of the Federation (SGF), George Akume has released 20 ways President Bola Tinubu intends to transform Nigeria.
He said Tinubu came prepared and came with a plan, stating that he knew what to do and he is doing it.
Below are the ways (nuggets):
Nugget 1: As a Government, we have heard your cries about fuel price increases, and be rest assured, we are working round the clock to normalize and bring solutions that ease the pain. Our job is to give you the quality of life you deserve when you wake up. So far, we are on course.
Nugget 2: To this end, we are already working out modalities to ensure market forces normalize pricing while we drive policies that better your lives and boost your earning power. We have a clear economic restoration plan, so I urge you to trust the process. #EconomicRestoration
Nugget 3: We need your understanding, cooperation and buy-in to properly harness our energy sector potential to fuel economic growth. Because we intend to diversify our economy to improve your living conditions, we cannot continue to operate as we always did in the past.
Nugget 4: At a mere 7%, Nigeria’s Revenue to GDP ratio (when we took over) was among the five lowest in the world. To reset this bleak reality, we must diversify our economy and address our perennial oil and gas challenges, or we will be moving round in circles.
Nugget 5: We needed a strong man to take charge and give direction. We have a course now. The President is determined to restore, grow, and sustain our oil production levels to deliver economic growth as our #RenewedHope Agenda envisioned. Despite a few challenges, we are on course.
Nugget 6: It’s very easy to ignore the fact that $70b worth of investments have been lost in the Oil sector since 2011. Insecurity has bedeviled us, with over $46b lost to crude oil theft between 2010 and 2020. These were issues no one was bold enough to address – untill Asiwaju stepped in.
Nugget 7: For the regressive subsidy regime which just ended, our annual subsidy payments due to inefficiencies in the oil and gas value chain stood at a colossal $11b. It was not sustainable and someone had to act. The President was decisive in doing so and he told us from day one.
Nugget 8: For our first 100 days in office, we had already decided to unify exchange rates, deregulate PMS pricing, and move to end insecurity in our oil-producing states by rejigging our entire security architecture. We’re taking strong measures to secure our nation’s future.
Nugget 9: After this, by the end of 2024, we are targeting minimum daily production of 1.8mb/d of crude and 3.5bcfg of gas, up from present levels. We’re ambitious and committed to sanitizing the oil sector and turning around our economy, building on the success of the PMB administration.
Nugget 10: Our wider plan for the Oil and Gas Sector involves building 7 core development pillars to spur growth in the industry while driving industrialization and transiting to a Green Economy by 2060. @offcialabat is building a sustainable future for us and our children yet unborn.
Nugget 11: First Pillar is to conserve our revenues and drive development. We have already decided to eliminate the ₦8 trillion/yr payments in PMS subsidies and use the money to drive social investments, spur real sector and build infrastructure in our cities and rural areas.
Nugget 12: Secondly, we intend to monetize our national oil assets by offering our stake in these assets to private investors. This will mean we have more revenues to drive growth and development in Nigeria. This is when our comatose refineries and @NNPC will take centre stage.
Nugget 13: We will restore lost revenues by boosting oil production to 2.5mmb/d and 5bcf/d of gas for export and domestic use while ensuring we run @Nigerialng at full capacity. We’re working towards building a more prosperous Nigeria and repositioning ourselves as a global energy giant.
Nugget 14: After we shore up revenues, we will grow production and export capacity to 4mb/d & 12bcf/d for domestic use and export by 2030. We will boost our power generation capacity to 25-30GW of output simultaneously, adding 12GW of stranded Gas-fired power. #PowerGeneration
Nugget 15: Next will be the Industrialization phase- the 6th pillar, where we will set about diversifying revenue sources and boosting job creation. We will begin converting our Oil & Gas output into industrial products, feedstocks, & aggregate demanded in industrial clusters.
Nugget 16: We’ll prioritize export-oriented projects to improve bankability and drive growth, to create a strong economy that benefits us all, increasing the earning power of Nigerians such that issues like fuel availability or the price will no longer occupy national discourse.
Nugget 17: Our transition to a Green Economy will reduce Carbon emissions and incorporate Carbon Capture, Usage and storage (CCuS), and utilization in LNG projects to drive energy efficiency. We’re committed to a sustainable future. #GreenEconomy #SustainableFuture.
Nugget 18: The judiciary/legislature will lead the anti-corruption fight to ensure this is done, while freedom of information, security, and right of association will be enshrined in this dispensation. Together, we’ll create a better Nigeria. #BetterNigeria #StrongInstitutions
Nugget 19: This is the Asiwaju Plan for Nigeria, as envisioned in our #RenewedHope Agenda. Deregulation is only the first part of this process/plan. Other health, education, agriculture, infrastructure, and more measures will come on stream soon. #HolisticSolution #NigeriaISBack
Nugget 20: As we go about our lawful businesses this weekend, let us all mull over this message and pass it across to our neighbors, family and friends. I am a listening public servant, so please drop your observations and suggestions here – I am reading. Have a great weekend ahead.
PM News