Jonathan, Blair Seek Path to National Rebirth, Equity

Posted by admin Africa & World Politics, Goodluck Jonathan (2010-present), Presidency Saturday, April 20th, 2013

• Okonjo-Iweala Allays Fears Over N160b Revenue Loss

PRESIDENT Goodluck Jonathan and former Prime Minister of the United Kingdom, Mr. Tony Blair, Saturday expressed the hope that Nigeria could solve all of its problems through patriotic commitment to unity and progress.

The two leaders, who spoke in Lagos during the inauguration and opening ceremony of the Rock Cathedral Metropolitan Church of Christ, agreed that the current challenges facing the country could serve as building blocks for its greatness if the citizens make collective efforts.

This comes as Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo Iweala, on the sidelines of the Spring meetings of the International Monetary Fund (IMF) and the World Bank, urged Nigerians and their friends not to fret over the nation’s falling oil revenue in the last one month, the reason of which she linked to drop in production level. According to her, the country has enough war chest in the Excess Crude Account (ECA) to absolve the temporary shocks.

Blair, in Lagos, harped on the need for Nigerian leaders to promote equity and create opportunities for many, not few, Nigerians.

The former British Prime Minister observed that, despite the fact that the country remains a rich, most of its citizens still wallow in abject poverty.

According to Blair, equity should not be seen as a legal idea but a social one.

Noting that the task of leading and providing the right leadership is not an easy one, Blair said Nigerian leaders must make concerted efforts to give many young Nigerians, who form the bulk of the country’ population, the opportunity to actualise their potentials.

Emphasising the need for Nigerians to love one another and live together, the former Prime Minister said there is no justification to deliberately harm another person, as it is not only a crime but also an abomination before God.

President Jonathan, in his speech, noted that no country becomes great without passing through an era of discomfort.

According to him, the present generation of Nigerians must transform the country and work hard for the future.

The President also expressed the optimism that Nigeria would get over the present crisis period.

He prayed that the people who come into the Cathedral to worship would leave with renewed faith in God and love for their neighbour, as the church flourishes.

Senior Pastor of the Rock Cathedral Metropolitan Church of Christ, Paul Adefarasin preached hope of better nation, where every Nigerian would enjoy quality health and education, travel around the world with the green passport and not be discriminated against.

Adefarasin described Blair as a mentor in the noble efforts of inter-religious dialogue and urged Nigerians to believe in dialogue

Meanwhile, Okonjo-Iweala, in Washington D.C, the United States capital, said: “there have been a number of enquiries from local and international media with respect to the recent drop in oil production in Nigeria and the impact on revenue flows.

“We feel that this briefing is important because transparency in the management of the country’s finances is a key focus of the Jonathan Administration. The drop in crude oil production is due to a variety of reasons, including: loss of 150,000 barrels per caucus to recent shut-in of Shell Nembe operations; shut-in due to force majure declared at Qua Iboe Terminal, resulting in a loss of about 65,000 barrel per day and some other losses, including those of Agip and loses at Okomo, Brass and Amenam Terminals due to repair work on equipment.

“A great deal of loss in production is closely linked to oil theft and illegal bunkering, which have been going on for some time. The thefts are getting more invasive as the criminals are going beyond the outer pipelines and moving into the more sensitive pipes.

“We estimate total losses at over 300,000 barrel per day (bd). In all, we estimate that current production has dropped to between 2.1 to 2.2 million bpd leasing to revenue drop of about $1 billion (or N160 billion) a month. The current production figure is thus lower than the actual production level in 2012 and obviously lower than the projected output of 2.528 million bpd underpinning the 2013 budget, which was derived in consultation wit the NNPC,” the Minister said.

She, however, gave the assurance that the Excess Crude Account would cushion the temporary pains and ensure stabilization.

“That is why we keep emphasising that we must save for the future. As at now, we have about $7 billion in that account… The President has already taken a proactive measure and has met with the Military high Command and has directed them to take action to halt the drift.

“The President is also meeting with Shell and other Oil majors next week on how to control the loss.”

Via GUARDIANwp_posts