Nigeria: Obasanjo to Commission a Power Plant Per Month

from All Africa

Josephine Lohor
Abuja

President Olusegun Obasanjo is to commission one power plant each month in the remaining five months of his administration which would begin in February, with the Geregu Power Plant in Kogi State.

Speaking during the Presidential Stakeholders Forum on the Economy yesterday, the Obasanjo regretted that although he had earlier promised to begin such commissioning this month, the Omotosho Power Plant would be commissioned in March, while that of Papalanto in Ogun State is slated for April. He also set an April 1, 2006 date for the take-off of the introduction of ethanol in fuel in the country.

While disclosing that the next meeting of stakeholders on the economy will hold April 5, the President emphasised that the meeting would look at "where we started, where we are, where we want to be by 2010 - 2015. We will even want to take it to 2020."

He also noted that the Federal Government is "anchoring the reforms in such a way that they will not be a flash in the pan. They will be sustained", added that "we are getting things right in agriculture, health, telecommunication, banking and power where for over 10 years before we came, there was not a cent in investment in power. That is 10 years of nothing in that sector".

Reacting to a comment on the level of smuggling in the country, Obasanjo stated that, "from all records, the Customs are doing their best. But at times, Garri pass water for them. But they are doing their best. Unfortunately, what is being smuggled is so annoyingly irrelevant; used tyres, etc. I do not know".

Minister of Finance, Nenadi Usman, who made a presentation at the Stakeholders forum, described the 2007 budget as that which represents "renewed and strengthened commitment to move Nigeria forward".

She said expectations for 2007 is that inflation will remain stable at 9 per cent, and accelerated growth of the Gross Domestic Product (GDP) that will be driven by the non-oil sector, improvement in human capital and reduction and eradication of poverty.

The Minister noted that "there has been a lot of positive development in the Nigerian economy".

The Governor of the Central Bank of Nigeria (CBN), Professor Chukwuma Soludo, had while making his presentation disclosed that "the high levels of poverty is a normal phenomenon in the northern part of the country with States like Jigawa where 95 per cent of the people live in poverty and Adamawa where 72 per cent live in poverty."

Although governors of most of the States in the North did not attend the economic forum when Soludo reeled out the figures, he however advised State governors to explore the possibility of borrowing on behalf of their States and then giving out same to farmers.

He made a GDP projection of 7.87 per cent provided the general elections are peaceful, reforms are sustained, macro-economic stability continues and agriculture strives, amongst others.

In her submission, the Chairman of the National Inland Revenue Service (FIRS), Ms. Ifueko Omoigui, who noted that since 1961 no tax laws have been passed in the country while presently there are nine bills before the National Assembly for passage into law, called on all organisations to pay their taxes as and when due to ensure a sustainable future.

"If you are not taxing allowances, you are acting against the law. Please go ahead and do your proper taxes now before we get to your organisation. As long as the law exists, you are bound to comply with the law completely. Please support tax reforms in order to build a more sustainable future", she said.