Independence anniversary: Why good governance culture is imperative in nation-building – Buhari

The president made the call in a nationwide broadcast to mark the country’s 59th Independence Anniversary.

“We must commit to installing a culture of Good Governance in all we do. This Administration has fought against corruption, by investigating and prosecuting those accused of embezzlement and the misuse of public resources.

 “We have empowered teams of prosecutors, assembled detailed databases of evidence, traced the proceeds of crimes and accelerated the recovery of stolen funds,” he said.

The president also reiterated federal government’s support for the passage of the Petroleum Industry Bill even in the face of its drive for the diversification of the country’s economy.

 “As we push to diversify the economy, we still remain focused on optimizing the revenues generated from the oil and gas sector. We will, working with the Legislature, soon pass the Petroleum Industry Bill and amendments to the Deep Offshore Act and Inland Basin Production Sharing Contracts Act into law, to ensure Government obtains a fair share of oil revenues, whilst encouraging private sector investment.

 “We will also continue our fight against illegal bunkering of crude oil and the smuggling of refined petroleum products across our borders, including the diligent prosecution and conviction of offenders found guilty of these acts. Whilst Nigeria remains committed to free and fair continental and international trade, we will not hesitate to take all necessary steps to tackle illegal smuggling, transshipment and other predatory trade practices that destroy jobs in our country.”

“We are resolute in reforming the power sector. In August this year, we launched the Presidential Power Initiative to modernize the National Grid in 3 phases: starting from 5 Gigawatts to 7 Gigawatts, then to 11 Gigawatts by 2023, and finally 25 Gigawatts afterwards. This programme, in partnership with the German Government and Siemens, will provide end-to-end electrification solutions that will resolve our transmission and distribution challenges.

 “The programme will also look to localize the development and assembly of smart meters as well as the operations and maintenance capabilities of transmission and distribution infrastructure.

 “I am pleased with the improved inter-agency collaboration between the Ministry of Power and the regulators in the banking and power sectors to ensure that electricity sales, billings and collections are automated and become cashless.

 “These initiatives are important to ensure that the technical and collection losses in the sector are substantially reduced. I remain confident that Nigerians will have affordable and uninterrupted electricity supply in the not too distant future.

 “Our efforts to improve the power sector will complement other infrastructure investments projects under the Presidential Infrastructure Development Fund, which is investing in the Mambilla Power Plant project, as well as key economic road infrastructure such as the Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kano Expressway. The first set of these projects remain on track to be completed by 2022.”

“Our journey to food security and self-sufficiency is well underway. We have made remarkable progress in almost all segments of the agriculture value chain, from fertilizers to rice, to animal feed production. We shall sustain these policies to ensure additional investments are channeled, thereby creating more jobs in the sector. We must not go back to the days of importing food and thereby exporting jobs.

 “Our commitment to achieving macroeconomic stability and economic diversification, has been underscored by the merger of the Ministry of Finance with the Ministry of Budget and National Planning. This combined Ministry has the important mandate to enhance the management of domestic and global fiscal risks; coordinate policies with the trade and monetary authorities; raise and deploy revenues to fund budgeted expenditure; and integrate annual budgets and medium-term fiscal strategies.

 “With this, our revenue-generating and reporting agencies will come under much greater scrutiny, going forward, as the new performance management framework will reward exceptional revenue performance, while severe consequences will attend failures to achieve agreed revenue targets.

 “I recently constituted an Economic Advisory Council to advise me on inclusive and sustainable macroeconomic, fiscal and monetary policies. This independent body will work with relevant Cabinet members and the heads of key monetary, fiscal and trade agencies to ensure we remain on track as we strive for collective prosperity. However, we are also committed to ensure that the inconvenience associated with any painful policy adjustments, is moderated, such that the poor and the vulnerable, who are most at risk, do not bear the brunt.”

“Our ongoing N500 billion Special Intervention Programme continues to target these vulnerable groups, through the Home-grown School Feeding Programme, Government Economic Empowerment Programme, N-Power Job Creation Programme, loans for traders and artisans, Conditional Cash Transfers to the poorest families and social housing scheme.

 “To institutionalize these impactful programmes, we created the Ministry for Humanitarian Affairs, Disaster Management and Social Development which shall consolidate and build on our achievements to date. To the beneficiaries of these programmes, I want to reassure you that our commitment to social inclusion will only increase.

 “Our population growth rate remains amongst the highest in the world, presenting both challenges as well as opportunities. It is our collective responsibility to ensure that we provide adequate resources to meet the basic needs of our teeming youth.

 “Accordingly, we shall continue to invest in education, health, water and sanitation, as well as food security, to ensure that their basic needs are met, while providing them with every opportunity to live peaceful, prosperous and productive lives.”