NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
FG releases strategic implementation plan for 2016 Budget

By Mayowa Okekale, Abuja on 08/04/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,355


Hours after it received 2016 Budget details from the national Assembly on Thursday, the Presidency later yesterday revealed the Strategic Implementation Plan articulating six thematic Strategies and 33 priority actions for the Appropriation Bill.

It explained that this would constitute the short-term priority of the Federal Government over the next 12 months.

The action points are as follow:

1. Lasting Changes in the Policies, National Security and Governance.

● Achieve an Appropriate Foreign Exchange Regime

● Increase low interest lending to the Real Sector. We will need to move toward a single digit interest rate.

● Maintain Capital Spending in the Budget at a minimum of 30%. Complement this with funds from the Infrastructure Fund for commercial projects

● Intensify the Implementation of Public Financial Management Reforms to Grow Revenues and Cut Costs.

● Maintain Sustainable Debt Management Strategy.

● Introduce Fiscal Incentives to Improve Collections

● Intensify the Fight Against Corruption by increasing Transparency, Accountability and Compliance with Law and Order

● Intensify Public Procurement Reforms in Projects to obtain Value for Money and cut costs.

● Sustain the Fight Against Insurgency, Kidnapping and Other Violent Crimes, Terrorism, Cyber-Crimes, Piracy, Oil Theft and Illegal Mining Activities.

Intensify the reorientation of the populace through Integrity Campaigns

2. Diversify the Economy by Fast-tracking Industrialization, Agriculture and Agro-Allied Processing, as well as attracting investment into the Solid Minerals, Tourism and Entertainment Sectors

● Implement Measures to Achieve Self-Sufficiency & Become Net Exporters of certain agricultural Items:

Rice-2018,

Tomato Paste-2016,

Wheat-2019.

Increase local production of maize, soya, poultry & livestock, so as to achieve self-sufficiency: deadlines to be announced in due course.

● Revitalize and Expand Agro-Allied Processing to intensify local production and processing of cassava, cocoa, cashew, fruits and sesame seed

● Utilize 5,000 hectares of Irrigable Land in the 12 River Basin Development Authorities and utilize 22 Dams for Commercial Farming activities by prospective investors

● Develop Dadinkowa, Gurara and Oyan dams with 82.5 MW capacity contribution to the National Grid.

● Adopt and Implement a Roadmap to Stimulate Investment into the Solid Minerals sector, and plug Revenue Leakages in the Sector

● Implement the National Industrial Revolution Plan and Launch the ‘Made in Nigeria’ Campaign

● Increase Manufacturing Capacity through the operationalization of Industrial Parks, Free and Export Processing Zones, etc.

● Enhance support facilities to provide increased financial, technical assistance, networking and information to new investors and existing enterprises.

● Implement the Roadmap to Increase Private Sector Investment in Culture, Tourism, Entertainment and Sports

● Create high-technology innovation hubs to support growth in the Digital and Technology Sectors

3. Prioritize critical Infrastructure, focused on increasing investment in Power, Rail and Roads, etc.

● Optimize the 7,000MW installed capacity and ensure associated infrastructure to Fuel, Transmit and Distribute this capacity.

● Ensure Tariff includes all costs of Transmission, Generation and Gas at new price, and Distribution Company costs required to operate, maintain and upgrade distribution networks.

● Resolve all Issues on Gas Pricing, Tariffs and Payment Assurance. Conclude Roadmap on Gas Development.

● Complete the Kaduna-Abuja and Ajaokuta-Warri Rail Lines scheduled for 2016; commence the construction of the Lagos-Kano standard gauge Line; and finalize negotiations for the Calabar-Lagos Rail Project.

● Undertake the rehabilitation and construction of 31 major Road Projects scheduled for 2016 to restore degraded sections of the Federal Highways network and to Establish Connectivity over a distance of 2,193km (through public works projects, maintenance works, PPP and other interventions)

● Complete the Rehabilitation of 4 Airports (i.e. Abuja, Kano, Lagos and Port Harcourt..

4. ON OIL AND GAS REFORMS

● Adopt & Execute a Comprehensive National Oil & Gas Master-Plan (‘NOGM’) as the roadmap for the Petroleum Industry’s Development, Diversification, Privatization & Governance. Adopt & Execute a Roadmap of Gas Development & Flare Elimination

● Set a deadline to be Self-Sufficient in Refined Petroleum Products & become a Net Exporter

● Work with the National Assembly on the passage of a Revised Petroleum Industry Bill (‘PIB’) or Bills to give effect to the NOGM & to resolve Fiscal & Governance Issues of the Sector, & Eliminate Gas Flaring.

● Conclude negotiations to deal with all funding gap issues in the Upstream Sector

5. ON EASE OF DOING BUSINESS

● Move 20 places up global Ease of Doing Business Rankings, by implementing fast track measures for business approvals, acquisition of land titles, etc. (Nigeria is currently ranked 169 out of 189 countries by the World Bank – 2015 Survey)

● Fast-track visa application and issuance processes

6. ON SOCIAL INVESTMENT

● Implement Social Intervention Programme and specific Health / Education projects included in 2016 Budget

● Health Sector Interventions including Flagging off the Revitalization of 1 Primary Health Centre per Ward (a total of 10,000 nationwide)

The Social Investment plans include the following:

● Train and deploy 500,000 unemployed graduates as volunteer teachers who would be paid on the job while they seek jobs in their chosen careers.

● Homegrown School Feeding for primary school pupils across the country paid for by the government

● Micro-credit scheme that provides very soft loans to a million market women, artisans, traders

● Creating innovation and technology hubs/ parks on a large scale and skills acquisition & vocational training for over 300,000 non-graduate youths

● Conditional Cash Transfer where one million poor and vulnerable Nigerians would receive N5000 monthly

● Bursary awards for tertiary education students of Science, Technology, Engineering & Maths, STEM.

The President who maintained that his administration would be committed to economic diversification through import substitution and export promotion, added that he would continue engaging the Nigerian people.

He said: “We will resume Town-hall meetings to explain the progress and address the challenges to Nigerians.”

•Photo shows President Buhari.

Source News Express

Posted 08/04/2016 05:20:14 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Umahi throws weight behind Buhari’s re-election

BREAKING NEWS: Supreme Court nullifies Kenya's presidential election...

NSCDC to recruit at the end of the...

Nnamdi Kanu: SERG hails judiciary, urges FG to...

Troops kill 7 Boko Haram fighters in early...

FG, States and LGs share N493.828 billion for...

Abati fails to meet bail conditions, still in...

Soldiers show Boko ‘pepper’ in Maiduguri showdown •Corpses...

Akwa Ibom SSG resigns; set to declare governorship...

Countdown to the BIG GAME: It’s do or...

Dark horse emerges in Abia guber battle, asks...

Ex-IMF Chief faces 10 years in prison for...

 

Latest News BREAKING: Senator Melaye arrested at the airport, foreign trip cut short Nigeria opts out of AfCFTA despite huge benefits to region – IMF U.S. to deliver 12 war jets to Nigeria Moghalu bags UN World Food Programme appointment Why we didn't attend US-Nigeria Investment Summit: Emefiele, Adeosun EKITI 2018: 33 APC governorship aspirants obtain forms Nigeria to sustain positive growth outlook — Adeosun, Emefiele Chibok Schoolgirl’s Parent Dies In Road Accident Niger Govt. spends N787m on Colleges of Nursing Sciences •School of Nursing Bida gets full accreditation after 42 years Nude gunman kills three in US restaurant World's oldest person dies at 117 Bloodshed across Nigeria worrisome — Gowon

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,482 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,432 views) Shameless Genevieve Nnaji exposes breasts in public (267,618 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,058 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,991 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,978 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,730 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,078 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,026 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,879 views) Lagos plane crash: Journalist releases victims’ names (136,788 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,486 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,067) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (483) Features (568) Global Business Monitor (262) International (1,921) Interview (149) Live Commentary (28) Love Matters (116) News (34,671) Opinion (915) Pidgin (10) Politics (4,801) Religion (722) Sports (1,484) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement