The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala has
\nprovided a detailed 102-page documented response to the 50 questions posed
\nby the House of Representatives Committee on Finance.<\/p>\n
The document provides, in extensive detail, including tables and graphs,
\nanswers to the committee\u2019s well publicized questions.<\/p>\n
In her response, the Minister stressed that, in spite of many challenges
\nwhich government has acknowledged, the Nigerian economy is showing real
\nand measurable progress in many areas. This can be seen in the fact that
\nmore jobs are being created; roads, rail and other infrastructure are
\nbeing improved; the country is saving for the future and planning better
\nfor the present. The Jonathan administration, contrary to the impression
\ngiven by some critics, is making impact in the areas that, according to
\ncredible opinion polls, Nigerians are most passionate about.<\/p>\n
For instance, on job creation which is a central focus of the
\nadministration, a total of 1.6 million jobs were created last year,
\naccording to the National Bureau of Statistics (NBS) of which 250,000 were
\nseasonal jobs created in dry season farming in 10 northern states. In
\nmanufacturing, the Onne Oil and Gas Free zone created an estimated 30,000
\ndirect and indirect jobs. The government special intervention programme
\nYouWin supported young entrepreneurs, creating over 18,000 jobs. The
\nSURE-P Community Services prgramme has also created 120,000 job
\nopportunities.<\/p>\n
The improvement in federal highways has been confirmed by many Nigerians
\nwho travelled over the Christmas and New Year holidays. Key highways which
\nhave witnessed significant progress include Kano-Maiduguri road, the
\nAbuja-Lokoja road, the Apapa-Oshodi road, the Onitsha-Enugu-Port-Harcourt
\nroad and the Benin-Ore-Shagamu road. Preliminary work has commenced on
\nLagos-Ibadan road and the Second Niger Bridge.<\/p>\n
The Railway Modernization Programme involving the construction of standard
\ngauge lines is underway. The 1,124 km Western line linking Lagos and Kano
\nis now functional while work on the Eastern line linking Port Harcourt to
\nMaiduguri is about 36% complete. The Abuja-Kaduna Standard Gauge line has
\nattained 68% completion, and the Itakpe-Ajaokuta-Warri Line which is
\npresently 77% completed, will be completed next year. The annual passenger
\ntraffic on our railways has increased steadily: rising from 1 million in
\n2011 to 5 million in 2013.<\/p>\n
One of the issues the Coordinating Minister dealt with is the charge, made
\nby the Chair of the Committee in the media that the country is racking up
\ndebts under Dr Okonjo-Iweala\u2019s watch as Finance Minister. As shown in her
\nresponse, there is no substance to the charge. In fact, the opposite is
\ntrue. Right from her Senate confirmation hearing in 2011, the Minister had
\nidentified rising debt as a major challenge which the country needs to
\nconfront. Under the leadership of President Jonathan and working with the
\nDebt Management Office and the Budget Office of the Fedration, the
\nMinister followed through with a robust approach which includes
\nprogressive reduction of borrowing, quick settlement of due debts and the
\nretirement of N75 billion of maturing bonds via a Sinking Fund dedicated
\nto paying off substantial bonds. These measures have produced clear
\nresults as shown in the reduction of borrowing from N852 billion in 2011
\nto N571.9 billion this year.<\/p>\n
It is important to note that many of the 50 Questions had been adequately
\nanswered at various fora, including meetings and open hearings organized
\nby the House Committee. The Minister\u2019s detailed response in spite of
\nthis, is a reflection of her well known high regard for the National
\nAssembly as an institution.<\/p>\n
Please see below some highlights of the Coordinating Minister\u2019s answers to
\nthe 50 questions.<\/p>\n
<\/p>\n
\nHIGHLIGHTS OF SOME ANSWERS TO THE
\n50 QUESTIONS
\nJOB CREATION
\nA total of 1.6 million jobs were created last year, according to the
\nNational Bureau of Statistics (NBS). In agriculture for instance, the
\nprovision of inputs in 10 Northern states enabled dry season farming and
\ncreated over 250,000 seasonal jobs. season. In manufacturing, the Onne Oil
\nand Gas Free zone created an estimated 30,000 direct and indirect jobs.
\nThe government special intervention programme YouWin supported young
\nentrepreneurs, creating over 18,000 jobs. The Sure-community Services has
\nalso created 120,000 job opportunities.<\/p>\n
<\/p>\n
INFRASTRUCTURE
\nProgress has been made on construction of the Kano-Maiduguri road, the
\nAbuja-Lokoja road, the Apapa-Oshodi road, the Onitsha-Enugu-Port-Harcourt
\nroad and the Benin-Ore-Shagamu road, among others. Preliminary work has
\nalso commenced on the Lagos-Ibadan road, as well as on the Second Niger
\nBridge. The Railway Modernization Programme involving the construction of
\nstandard gauge lines is underway. The 1,124 km Western line linking Lagos
\nand Kano is now functional while work on the Eastern line linking Port
\nHarcourt to Maiduguri is about 36% complete. The Abuja-Kaduna Standard
\nGauge line has attained 68% completion, and the Itakpe-Ajaokuta-Warri Line
\nwhich is presently 77% completed, will be completed next year. The annual
\npassenger traffic on our railways has increased steadily: rising from 1
\nmillion in 2011 to 5 million in 2013.
\nINLAND WATERWAYS
\nWe have dredged about 72 km of the lower River Niger from Baro in Niger
\nState to Warri in Delta State; and completed the construction of the
\nOnitsha inland port; while the Baro port is nearing completion. The result
\nof all these is that we now have year round navigation around the lower
\nNiger; and we are already witnessing an increase in cargo volume from
\nbelow 2.9 million metric tons in 2011 to over 5 million metric tons on the
\ninland waterways. As in the case of the rail transport, the number of
\npassengers travelling via our inland waterways has increased fourfold from
\n250,000 in 2011 to over 1.3 million.<\/p>\n
\nWATER RESOURCES
\nKey milestones recorded in 2013 include the construction of 9 dams, which
\nresulted in an increase in the volume of the nation\u2019s water reservoir by
\n422MCM. Progress was made on major projects such as the South Chad
\nIrrigation Project, the Bakolori Irrigation Project, and the Galma Dam.
\nImplementation of irrigation and drainage programme resulted in increase
\nof the total irrigable area by over 31,000Ha, job creation for about
\n75,000 farming families and increased production of over 400,000Mt of
\nassorted irrigated food products.<\/p>\n
<\/p>\n
AVIATION:
\nThe 22 airports across Nigeria are being remodeled and upgraded: in 2013,
\nwe completed the upgrade of 11 airport terminals and work on the remaining
\n11 terminals is in progress. The Enugu Airport is now operational as an
\ninternational airport with a new terminal under construction. We have also
\ncommenced work on the construction of three new international airport
\nterminals: in Lagos, in Kano, and in Abuja. Modern navigational and
\nmeteorological systems were installed at our airports to improve air
\nsafety. In addition, 6 airports namely: Jos, Markurdi, Yola, Jalingo,
\nLagos and Ilorin which are strategically located in proximity to food
\nbaskets have been designated as perishable cargo airports and
\ninternational standards perishable cargo facilities are being developed at
\nthese airports. A new Cargo Development Division has been established in
\nFAAN to give focus to this effort.<\/p>\n
<\/p>\n
POWER
\nWe have completed one of the most comprehensive and ambitious power sector
\nprivatization and liberation programmes globally. We have privatized 4
\npower generation companies and 10 power distribution companies, and have
\nvirtually settled all claims and entitlements of PHCN workers. Some major
\ncities get an average of 16-18 hours of electricity per day in 2013. This
\nhowever dropped in November and December during the transition we expect
\nsome teething problems and then power supply should pick up. In 2013, we
\nalso mobilized $1.5 billion in financing from multilateral sources for
\ninvestment and upgrade of the transmission network in 2014 and beyond. To
\npromote clean energy, we also commenced construction of the 700MW Zungeru
\nHydro-Power project in 2013. We have strengthened relevant power market
\nintermediaries such as the Nigerian Bulk Electricity Trading Plc (NBET),
\nand backed them with financing to stimulate greater private investments in
\nthe sector.
\nMANUFACTURING:
\nWe launched the National Industrial Revolution Plan (NIRP), which focuses
\non industrializing Nigeria and diversifying our economy into sectors such
\nas agro-processing, light manufacturing, and petrochemicals. In the 2013
\nfiscal year, Nigeria was named the #1 destination for investments in
\nAfrica by UNCTAD (the UN Conference on Trade and Development), attracting
\nover $7 billion in FDI. There were a large number of both foreign and
\ndomestic investments in the economy, such as by: $250m investments by
\nProcter and Gamble in Ogun State; $40 million in agricultural projects by
\nDominion Farms. To further support the manufacturing sector, the
\nGovernment successfully negotiated a strong Common External Tariff (CET)
\nagreement with our ECOWAS partners, which would enable us to protect our
\nstrategic industries where necessary. The Nigerian Enterprise Development
\nProgramme (NEDEP) was initiated in 2013 to address the needs of small
\nbusinesses. Some key interventions by NEDEP include supporting small
\ncompanies with access to affordable finance, access to markets, capacity
\nsupport, business development services, youth training, and support in
\nformalizing their operations. In addition, in 2013, we reduced business
\nregistration costs for small businesses by 50%, to help them conserve
\ncapital. Finally, as a result of our backward integration policies,
\nNigeria is now a net exporter of cement and expanded cement output
\ncapacity from 2 million metric tonnes in 2002 to 28.5 million metric
\ntonnes in 2013.<\/p>\n
<\/p>\n
AGRICULTURE:
\nThere have been many achievements in the agricultural sector following the
\nlaunch of the Government\u2019s comprehensive Agricultural Transformation
\nAgenda program. In October 2013, inflation fell to 7.8%, its lowest since
\n2008, partly due to higher domestic food production. The Government\u2019s
\nGrowth Enhancement Scheme (GES) is providing subsidizing inputs to farmers
\nvia an e-Wallet program. In fiscal year 2013, an estimated 4.2 million
\nfarmers received subsidized inputs via the Government\u2019s Growth Enhancement
\nScheme. As a result, in 2013, we produced 1.1 million metric tonnes of dry
\nseason rice across 10 Northern states; and over 250,000 farmers and youths
\nin these States are now profitably engaged in farming even during the dry
\nseason. The Federal Government launched Staple Crop Processing Zones to
\nsupport investments in the entire agricultural value chain. At present,
\nthere are over $8 billion of private investment commitments from
\nagribusiness ventures such as: Flour Mills of Nigeria, the Dangote Group,
\nSyngenta, Indorama, AGCO, and Belstar Capital. In 2012, 2.2 million metric
\ntonnes of cassava chips were exported, exceeding the ATA\u2019s target by over
\n100% while the 40 percent substitution of cassava for wheat has been
\nachieved through research and collaboration with the IITA and Federal
\nInstitute for Industrial Research. Similarly, there has been a decline in
\nwheat imports to Nigeria from an all-time high of 4,051,000 MT in 2010 to
\n3,700,000 MT in 2012.<\/p>\n
<\/p>\n
HEALTH
\nTo further invest in the human capital of our population, we are building
\nstrong safety nets and improving access to primary health care using the
\nSaving One Million Lives programme. In the 2013 fiscal year, we recruited
\n11,300 frontline health workers who were deployed to under-served
\ncommunities across the country. We have reached over 10,000 women and
\nchildren with conditional cash transfer programmes across 8 States
\n(Anambra, Bauchi, Bayelsa, Ebonyi, Kaduna, Niger, Ogun, Zamfara) and the
\nFCT and we intend to scale up this successful initiative. As a result,
\nover 400,000 lives have been saved through our various interventions.
\nNigeria\u2019s national immunization coverage has now exceeded 80% and is
\nyielding demonstrable results. The Type-3 Wild Polio virus has been
\ncontained in 2013, with no recorded transmissions for more than one year;
\nwhile Guinea worm that previously affected the lives of over 800,000
\nNigerians yearly has been largely eradicated. Facilities at various
\nmedical centers across the country \u2013 such as the University of Nigeria
\nTeaching Hospital in Enugu, and the University College Hospital in Ibadan
\n\u2013 have also been upgraded. Finally, Nigeria has also been honoured as
\nCo-Chair of the fourth replenishment of the Global Fund to fight AIDS, TB
\nand Malaria, and I shall be co-chairing this initiative with other
\nselected world leaders.<\/p>\n
<\/p>\n
EDUCATION
\nTo improve access to education at all levels, a number of priority
\ninvestments were made in 2013. These include the construction of 125
\nAlmajiri schools and establishment of 3 additional Federal Universities,
\nto bring the total number of new Federal Universities to 12.
\nAdditionally, special girls\u2019 schools were constructed in 13 States of the
\nFederation. In fiscal year 2013, we rehabilitated 352 science and
\ntechnical laboratories while 72 new libraries have been constructed in the
\nFederal Unity Schools. Furthermore, the laboratories of all 51 Federal
\nand State Polytechnics have been rehabilitated and micro-teaching
\nlaboratories are being constructed in 58 Federal and State Colleges of
\nEducation. The Presidential Special Scholarship programme for first class
\ngraduates has commenced with an initial set of 101 beneficiaries. Over
\n7,000 lecturers from Universities, Polytechnics and Colleges of Education
\nare benefitting from scholarships to support their doctoral training in
\nNigerian and overseas institutions.<\/p>\n
\nCOMMUNICATIONS TECHNOLOGY:
\nWe continued our strategic focus on investing in modern ICT technologies.
\nWe constructed 500km of fibre-optic cable to rural areas; 3,000km targeted
\nfor deployment in 2013\/2014. A total of 266 Public Access Venues were
\nestablished in 2013 \u2013 156 Rural IT Centres, 110 Community Communication
\nCentres. We facilitated the deployment of mobile communications base
\nstations in rural areas of Nigeria. A total of 59 Base Stations have been
\ninstalled thus far, with an additional 1,000 planned for 2014. In
\naddition, we also provided wholesale internet bandwidth to Internet
\nService Providers, Cyber cafes, and ICT centres like Community
\nCommunication Centres (CCC) in rural communities \u2013 connectivity to 12 out
\nof 18 pilot sites completed. In 2013, we deployed a fibre-optic high-speed
\ninternet network to connect 27 Federal universities, and provided
\ncomputing facilities to 74 tertiary institutions and 218 public schools
\nacross the country. Finally, we established innovation centers to support
\nentrepreneurs in the ICT sector, and also launched a Venture Capital fund
\nof $15 million for ICT businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala has provided a detailed 102-page documented response to the 50 questions posed by the House of Representatives Committee on Finance. The…<\/p>\n","protected":false},"author":1,"featured_media":21620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-21619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n