Secretary to the
Government of the Federation (SGF), George Akume has released 20 nuggets on how
President Bola Tinubu intended to transform Nigeria.
He said Tinubu
came prepared and came came with a plan, saying that he knew what to do and he
is doing it.
Below are the
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, else we will just be
moving round and 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- till Asiwaju.
Nugget 7:
For this regressive subsidy regime, just ended, know that 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 & 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 & 3.5bcfg, 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 & 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 & our children yet unborn.
Nugget 11:
First Pillar is to conserve our revenues and drive development. We already
decided to eliminate the ₦8 trillion/yr payments in PMS subsidies and use that
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 center stage.
Nugget 13:
We will restore lost revenues by boosting oil production to 2.5mmb/d and 5bcf/d
for export & 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 & 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 & 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 no
longer occupy national discourse
Nugget 17:
Our transition to a Green Economy will reduce Carbon emissions and incorporate
Carbon Capture, Usage & 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 & pass it across to our neighbors, family & friends. I am a
listening public servant, so please drop your observations & suggestions
here- I am reading. Have a great weekend ahead.
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