President Jonathan`s 2013 Budget speech
Federal Republic of Nigeria
2013 Budget Speech
“Fiscal Consolidation with Inclusive Growth”
Delivered by:
His Excellency
Goodluck Ebele Jonathan, GCFR
President, Federal Republic of Nigeria
Before:
A Joint Session of the National Assembly, Abuja
Wednesday, 10th October 2012
PROTOCOL
1. It is
my pleasure and honour to present the 2013 Federal Budget Proposal before this
esteemed Joint Session of the National Assembly. I am particularly delighted to
present this Proposal to you earlier in the year, and soon after the commemoration
of our national independence, to signal our commitment to evolving a new
Nigeria. This Proposal is the product of extensive consultations with key
stakeholders and would further translate the Government’s development plans
into concrete actions.
2. When I
presented the 2012 Budget, you will recall, I emphasized the fact that it would
be “a stepping-stone to the transformation of our economy and country in our
walk to economic freedom ...”. I am glad to report that we have made progress
in this regard. Today, in the face of critical resource constraints, the
defining moment of our work is in actualizing our promises to Nigerians. We
need to create a structured economy where everybody plays by the same rules,
and contributes their fair bit. That is the Nigeria our heroes past craved for;
that is the Nigeria we believe in; and that is the Nigeria we are building
together.
GLOBAL ECONOMIC DEVELOPMENTS
3. As we
build this nation and walk the path of development, we must be mindful of the
realities of our circumstances and those of the changing global economy. This
Budget Proposal was therefore designed against the backdrop of global economic
uncertainty. By the end of the second quarter of this year, the global economy
was recovering but at a very slow pace. Growth in a number of major emerging
market economies, has been lower than forecast. Overall, global growth is
projected at 3.3% in 2012 and 3.6% in 2013.
4. The
uncertainty surrounding the global economy, which could have adverse effects on
commodity prices, highlights the downside risks for our economy. The oil market
is well known for its volatility. We recall the 2008 experience at the height
of the global economic downturn when oil prices fell almost overnight from $147
per barrel to $38 per barrel. This threat of oil price volatility remains
constant and underscores the need to rely on a robust and prudent methodology
to estimate the benchmark price.
5. The
global economic slowdown can also have far-reaching implications for the demand
for our export commodities, given that the Euro zone and the USA account for
over 50% of the nation’s crude oil exports. These global developments are also
being transmitted to our economy through a dampening effect on foreign capital
inflows and remittances by Diaspora Nigerians. Fellow Nigerians, these are
uncertain times in the world economy, and my Administration is taking necessary
steps to mitigate possible adverse effects of the global economic slowdown on
Nigeria. I assure you that we are going to build up the necessary savings to
protect the economy against a possible global recession or a slow recovery.
DEVELOPMENTS IN THE DOMESTIC ENVIRONMENT
6. In
spite of the foregoing, our economy has done relatively well. Over the past
nine months, through a number of initiatives, we have created new jobs directly
and supported many young entrepreneurs running SMEs to create jobs. Nigeria is
looking to become more self-reliant again in food security, and we are
increasing local content in our manufacturing processes and the oil and gas
sector.
7. As at
the end of the second quarter, the economy recorded an impressive growth of
6.28% compared to 5.4% forecast for sub-Saharan Africa. It is gratifying to
note that the non-oil sector remains the main driver of growth. There are also
improvements in other macroeconomic indicators. Inflation has dropped from
12.9% in June 2012 to 11.7% in August 2012, and our goal is to reduce it
further. Our foreign reserves now stand at US$41.6 billion – the highest it has
been in over 2 years. We intend to continue with our programme of fiscal
discipline and prudent monetary policy in order to continue to improve our
country’s macroeconomic environment.
8.
Furthermore, in addition to being upgraded last year by Fitch and
S&P rating agencies, Nigeria has now been included in the JP Morgan
Emerging Markets Bond Index, signifying increasing investor confidence in our
economy. In addition, the World Economic Forum has upgraded our ranking from
127 to 115 in the global competitiveness index.
9. Here
in Nigeria, we do not join the debate on fiscal consolidation versus growth
because we believe in the need to do both; hence, we are continuing our focus
of fiscal consolidation with inclusive growth. The fiscal consolidation policy
has helped to strengthen our finances with a programmed budget deficit of about
2.85% of GDP in 2012, now projected to drop to 2.17% in 2013. Moreover, the
share of capital expenditure in the total budget is increasing as we gradually
reduce recurrent expenditures and also develop non-oil revenue sources.
REVIEW OF THE 2012 BUDGET IMPLEMENTATION
10. Fellow
Compatriots, the 2012 Budget was focused on achieving Fiscal Consolidation with
Inclusive Growth using the budget balance as a fiscal anchor. In that respect,
while investing in key priorities, the budget also ensured that the deficit
followed a downward trend over the medium term. This is being done through a
more aggressive revenue collection drive and prudent management of available resources.
11. On the
expenditure side, the implementation of the 2012 Budget is on track, having
commenced effectively in April when it became law. We have so far released
N711.6 billion to MDAs for the implementation of their capital budgets while
further releases are to follow shortly for the fourth quarter. The continued
implementation of the 2011 capital budget in the first quarter of 2012, clearly
affected the implementation of the 2012 Budget.
12. I have
taken a personal interest in the budget implementation since May by chairing
weekly sessions with Ministers and Heads of parastatals on their progress in
this regard. We are determined to use the instrument of the budget to improve
the welfare of Nigerians. You would recall my assurance to Nigerians that
subsequent budgets will be presented earlier to the National Assembly. It is in
this spirit that I lay this Proposal before this Assembly today, to give
sufficient time for deliberation on the Proposal and approval of the budget,
and to enable us commence implementation from January 1st 2013.
13. Let me
stress that Government remains focused on the tangible outcomes from the
implementation of the Appropriation Acts, not just the amounts spent. In this
respect, I have signed Performance Agreement Contracts with my Ministers with a
view to ensuring delivery of projects and programmes in their respective
budgets. The Ministers in turn, are signing similar agreements with their
Permanent Secretaries, Heads of parastatals and Directors to cascade down the
need for responsibility and accountability. Key government officials with
responsibility for implementing different aspects of the budget will be
appraised based on these performance agreements. My goal is to ensure optimal
implementation of our annual budgets.
14.
Government is also determined to reduce the cost of governance. We are
reviewing the recommendations aimed at rationalizing Agencies of the Federal
Government with overlapping functions. This has been taken into account in the
preparation of the 2013 Budget, and we expect some modest cost savings from
this exercise in the course of the 2013 fiscal year. However, more significant
progress will be made in 2014, as we work with the Legislature to harmonise those
Agencies that have enabling laws, but which also have duplicative mandates.
Subsidy Reinvestments and Empowerment Programme (SURE-P)
15. You will
recall that we had assured Nigerians that the proceeds of the partial
withdrawal of petroleum subsidies will be applied to implementing the Subsidy
Reinvestment Programme (SURE-P). The implementation of this programme is
continuing over the medium-term.
16. In the
2012 fiscal year, we had voted N180 billion for the implementation of social
safety net programmes, road and rail infrastructure projects. So far, N36.5
billion of this amount has been utilized to support maternal and child health
programmes as well as mass transit, roads and rail projects and job creation
through the Community Services and Public Works programme. The SURE-P Board
under the able chairmanship of Dr. Christopher Kolade is presently working hard
to ensure the successful oversight of the implementation of this programme. We
are grateful to them for their hard work and patriotism.
KEY ACHIEVEMENTS IN THE 2012 FISCAL YEAR
17. In the
2012 Budget, Government outlined some projects and programmes that were to be
implemented in key sectors of the economy in order to improve the livelihood of
Nigerians. We have numerous activities in various sectors such as: Power,
Health, Agriculture, Education, Housing, Transport, Aviation, etc. Let me
highlight a few of these sectors.
Power
18. The Power
Sector Reform is on course. Our efforts have begun to pay off as we have
improved power supply to various parts of the country. Our gas-to-power and
other initiatives are making this possible, but I acknowledge the fact that we
still have a long way to go. As you may be aware, the ongoing privatisation of
the generation and distribution companies has reached an advanced stage. In
some cases, Preferred Bidders have already emerged. When completed, the programme will bring into
the sector significant private investment, along with the requisite power
output.
19. We have
accomplished a number of goals in the Power sector reform programme in line
with the Roadmap, including:
a. Completion
of new units at our thermal power stations, to increase generation;
b.
Rehabilitation of existing power infrastructure, which has yielded up to
1,000 mega watts of additional electricity;
c.
Fast-Tracking 3 NIPP projects, which will bring an additional 1,055 mega
watts by the end of the year; and
d.
Facilitating a power and gas financing package, which includes
Government Guarantees, proposed Infrastructure Bonds of about $1billion, and
$150 million of external funding from the African Development Bank to support
continued gas supply and the liberalization of the power sector.
Agriculture
20. My
Administration has instituted key policy reforms to establish staple crop
processing zones aimed at attracting the private sector into areas of high
production, reducing post-harvest losses, and adding value to locally produced
commodities. So far we have succeeded in attracting $7.8 billion investment
commitments to the agricultural sector.
These investments and the value chain approach being used to transform
the sector have the capacity to create 3.5 million additional jobs in the
medium term by 2015.
· You will
recall that Government provided incentives to support cassava value chains,
including zero duty on machinery and equipment to process high quality cassava
flour. Cassava bread is increasingly commercially available with 20% cassava
flour content. In addition, a total of one million metric tonnes of dried
cassava chips, are being exported to China this year.
· Achieving
self-sufficiency in rice production in 2015 remains our target. In response to
our new fiscal measures, 13 new private sector rice mills with a capacity of
about 240,000 metric tonnes have been established. These mills buy and process
local paddy and create employment for Nigerians.
Housing
21. Fellow
Nigerians, the provision of affordable housing is one of the Administration’s
strategic imperatives for guaranteeing our citizens’ productivity and
well-being. We are creating an enabling environment for the private sector to
produce much needed housing, whilst creating jobs in the process. To facilitate
this, I will be holding a presidential retreat on Housing in early November, to
discuss policy and modalities for dealing with land titling issues, developing
an affordable mortgage finance system and reducing the high cost of housing
construction.
22. In the
meantime, under various social housing programmes, close to 2,000 housing units
have been completed, while over 24,000 housing units are at various stages of
completion. This is outside housing being constructed for the use of the Armed
Forces and Paramilitary services. The Federal Government has entered into
Partnership Agreements with several States for the provision of 6,000 housing
units. Another 600 housing units have already been completed under the direct
construction scheme of the Federal Housing Authority in these States.
Gradually, we are ensuring that more Nigerians enjoy the benefits of having
their own homes.
Transport
23. You are
already familiar with the improvement in the functioning of our ports, the
details of which I provided in my 52nd Independence Anniversary Speech. With
regard to Rail transport, in our continuing effort to boost infrastructure
development in the country, work is ongoing to rehabilitate the rail system
across the country. These include the
Lagos-Kano line as well as the Port Harcourt-Maiduguri line. Our people have
started enjoying rail service again.
24. Our
railway modernisation programme is progressing with the Abuja-Kaduna line now
at 46% completion, while work on the Lagos-Ibadan line is to commence soon. We
also expect to complete the Itakpe-Ajaokuta-Warri line in 2013. In the same
vein, we are fast-tracking the implementation of the mass transit Abuja Light
Rail system. When completed, it will improve transportation for all residents
in the FCT, especially workers living in the satellite towns.
25. Inland
Waterways: Our inland waterways programme is on track to boost commerce in the
surrounding communities, and I had the pleasure of commissioning the Onitsha
Inland Port on 30th August 2012.
Aviation
26. We are
working hard to improve the regulatory regime and safety of the Aviation sector
and will continue to look for ways to support its development. This
Administration identifies this sector as a key part of the Transformation
Agenda. As such, we have embarked on a comprehensive programme to transform our
airports to world-class standards and improve air travel safety standards
across the country.
27. For
instance, the remodelling of airport terminals and the upgrading of airport
runways are presently at advanced stages of implementation across virtually all
our airports. In addition, we have just concluded arrangements to commence the
construction of five brand new terminals in Kano, Port Harcourt, Lagos, Abuja
and Enugu, and six perishable cargo terminals, early next year. In line with
international best practice, these new terminals will be private
sector-managed.
28. Roads: We
know that Nigerians are disturbed about the state of our major highways. We are
addressing this issue frontally. With the rains receding, the Ministry of Works
will intensify the construction and rehabilitation of major roads in the
country, for example, the dualization of the Abuja-Lokoja road, the
Benin-Ore-Shagamu road, and the Kano-Maiduguri road. Also, the
Enugu-Port-Harcourt road rehabilitation has been awarded to four contractors in
order to fast-track its completion. It is gratifying to note that resources
from the Petroleum Subsidy Reinvestment Programme are being used to supplement
the regular budget for these projects.
The Petroleum Sector
29. The
petroleum sector continues to play a crucial role in our economy, even as we
seek diversification. In this regard, we are taking steps to modernise the
sector. A robust Petroleum Industry Bill (PIB) has been delivered as promised
to the National Assembly for consideration. When passed into law, the Bill will
provide the new legal framework that will govern Nigeria’s Oil and Gas
industry. This Bill, which encompasses
major reforms, will encourage additional investments in the sector, create
accountability and transparency, and ensure that the management of our
petroleum sector is commercially driven.
30. Our gas
to power initiatives are moving firmly ahead, with the 12-month gas supply
emergency plan already yielding more than the targeted volumes of gas for power
generation.
31. With
respect to the Petroleum Subsidy Programme, Government is succeeding in
substantially cleaning up the management of the petroleum subsidy regime. We
are tightening up the payment regime, to weed out corruption while working hard
to recover monies fraudulently obtained from the subsidy regime. The EFCC is
prosecuting those found wanting and the efforts to crack down on corruption in
this sector will continue.
32. On
Frontier Exploration, the Government’s drive to build up the nation’s oil
reserves through exploration of new frontiers for oil and gas production is
beginning to yield results with news of the discovery of crude oil in some
inland sedimentary basins in the country. These include the Chad Basin, Benue
Trough, Yola Basin and Anambra Basin amongst others. We are determined to
further develop on these findings and expand the scope of such explorations. To
support this, we have raised the provision for frontier exploration services
from N12 billion in 2012 to N16 billion in 2013.
Job Creation
33. Fellow
Compatriots, in spite of the economic growth noted earlier, it is clear that as
a nation, we still face economic disparities across the country. This
constitutes an obstacle to sustainable development as it limits improvement in
living standards, output and social cohesion which are key factors for
achieving inclusive growth. Our challenge therefore, transcends how to achieve
growth. Our objective is to achieve inclusive growth by identifying and
developing job creation opportunities. We have mentioned the 3.5 million jobs
we aim to create in agriculture and more jobs in the housing and construction
sectors, solid minerals sector, aviation and the creative industry.
34. In my
Independence Day Speech, I spoke of the 80,000-110,000 jobs we are supporting
young entrepreneurs to create through the YouWin programme. We have received
numerous testimonies from young men and women who have been able to expand
their businesses through the programme. We have just launched a second round of
the competition targeting only women entrepreneurs. Across the country, our
youth are developing new ideas and enterprises, and we must support them.
35. I
launched the Community Service, Women and Youth Empowerment Programme (CSWYEP)
under the SURE-P in February 2012. This is now working in pilot phase in 14
states, and to be replicated in other states in 2 weeks. We also have the
Graduate Internship Programme, in which participating private companies provide
one-year internships to 50,000 graduates, paid by the Federal Government. So
far, 700 firms, and 20,000 young graduates have applied to participate in this
scheme.
36. Fellow
Nigerians, even as we review our achievements in 2012, we are also conscious of
the unprecedented floods, which have ravaged many parts of our country,
displacing tens of thousands of fellow Nigerians, and causing massive
destruction of property, farmlands, and infrastructure across the country. My
heartfelt sympathy goes to the affected families and communities.
37.
Yesterday, I made a broadcast on the Federal Government’s actions to
deal with the situation. I authorized the disbursement of N17.6 billion to
States and MDAs to help bring succour to our fellow citizens affected by the
floods. This will complement ongoing efforts by Federal and State agencies, and
private initiatives.
38. A
Presidential Technical Committee to properly assess the extent of the impact,
and propose a rehabilitation strategy, has submitted an Interim Report and is
continuing to visit all the affected communities. I have also set up a National
Committee on Flood Relief and Rehabilitation to assist the Federal Government
to raise funds to mitigate the pains and ensure effective post-impact
rehabilitation of victims.
39. I
have also directed that the Ministry of Agriculture and Rural Development put
in place a flood recovery food production plan. This will include the provision
of early maturing varieties of maize, which mature in 60 days, to several flood
affected areas. In addition,
flood-tolerant rice varieties are being procured for flooded rice growing
areas. We will also accelerate dry season production of major food crops.
Security
40. Fellow
Compatriots, we are conscious of the fact that without security, no meaningful
development can take place in our land; and our collective efforts at building
the nation would only amount to little. This is why we channelled a great deal
of resources to security in the 2012 Budget. We remain conscious of the impact
of security challenges facing the country and are determined to bring the
situation under control.
41. I
commiserate with all our citizens who lost loved ones in the recent Mubi
killings and all the other acts of senseless destruction of lives and
properties in the country. We have already made arrests in the Mubi case, and I
want to assure Nigerians that all the culprits will be made to face the full
weight of the law. I want to thank our brave men and women of the security
services for their commitment. I also want to acknowledge and thank the various
state Governors for their cooperation and untiring effort to ensure peace in
their domains. The unity of Nigeria is not negotiable
THEME OF THE 2013 BUDGET
Theme
42.
Distinguished Ladies and Gentlemen, you will recall that in furtherance
of my Administration’s efforts to transform our economy, the 2012 Budget was
established on four main pillars - Macroeconomic stability; Structural reforms;
Governance & institutions; and Investing in priority sectors. The 2013
Budget promotes continuity of these pillars and is designed with the theme:
fiscal consolidation with inclusive growth. We will remain prudent with our
fiscal resources but also ensure that the Nigerian economy keeps growing and
creating jobs. To this end, the government will continue with the medium-term
theme and interventions that are consistent with the objectives of the
Transformation Agenda.
Macroeconomic Stability
43. One key
plank upon which our economic transformation is based is the achievement of
macroeconomic stability. My Administration has made significant progress in
putting the finances of the nation on a sound footing and laying the foundation
for rapid and sustainable growth. We will stay focused on maintaining
macroeconomic stability in Nigeria.
Budget Structure
44. Now let
me turn to the structure of the 2013 Budget. In recent years, recurrent
expenditure has tended to crowd out capital expenditure in the national budget.
Over the 2013-2015 medium-term, my Administration will continue to implement
measures aimed at correcting this imbalance in the budget structure in a viable
and sustainable manner.
45. In the
2012 Budget speech, I noted that Government was going to focus on cutting
recurrent expenditure to sustainable levels through reduction of waste,
corruption and duplication in the functions of government agencies. In this
respect, the biometric verification of employees is being extended to all agencies
of Government, while the process for rationalizing public agencies and reducing
duplication of mandates among different government agencies has begun,
following the Report of the Oronsaye Committee.
46. I am
therefore pleased to announce that the share of recurrent spending in aggregate
expenditure is set to further reduce from 71.47% in 2012 to 68.7% in the 2013
Budget, while capital expenditure as a share of aggregate spending is set to
increase from 28.53% in 2012 to 31.3% in 2013.
Public Debt Management
47.
Government will continue to exercise fiscal prudence and limit its
borrowing requirements in compliance with the Fiscal Responsibility Act, 2007.
Consequently, we have developed a responsible domestic debt management strategy
that, for the first time, seeks to start paying off our domestic debt rather
than rolling it over. In this respect, a sinking fund of N100 billion is being
established in the 2013 fiscal year to be used for repaying Government’s
maturing debt obligations and to curb the rising domestic debt profile. We have
further reduced our annual domestic borrowing from N852 billion in 2011, N744
billion in 2012, and to N727 billion in 2013.
THE 2013 BUDGET
48. The 2013
Budget is underpinned by the following parameters which reflect Government’s
prudent economic policies in an uncertain global economic environment:
· Oil
production of 2.53 million barrels per day, up from 2.48 million barrels per
day for 2012.
· Benchmark
oil price of US$75/barrel, a modest increase from the US$72/barrel approved in
the 2012 Budget. This benchmark price is based on a well established
econometric methodology of estimating oil price moving averages.
· Projected
GDP growth rate which is now estimated at 6.5% compared to 6.85% in the Fiscal
Strategy Paper. The revision is underpinned by the fact that the severe floods
experienced over large parts of the country are expected to impact on economic
activity in 2013, especially agriculture. However, the growth prospects may
improve with the plan to boost dry season farming.
Revenue
49. Based on
these assumptions, the gross federally collectible revenue is projected at
N10.84 trillion, of which the total revenue available for the Federal
Government’s Budget is forecast at N3.89 trillion, representing an increase of
about 9% over the estimate for 2012. Non-oil revenue is projected to continue
to grow in 2013 as the ongoing reforms in our revenue collecting agencies, and
the implementation of initiatives to further develop the non-oil sector
continue to yield results.
Expenditure Proposals
50. An
aggregate expenditure of N4.92 trillion is proposed for the main budget of the
2013 fiscal year, representing a modest increase of about 5% over the N4.7
trillion appropriated for 2012. This is made up of N380.02 billion for
Statutory Transfers, N591.76 billion for Debt Service, N2.41 trillion for
Recurrent (Non-Debt) Expenditure and N1.54 trillion for Capital Expenditure.
51. Based on
the above, the fiscal deficit is projected to improve to about 2.17% of GDP in
the 2013 Budget compared to 2.85% in 2012. This is well within the threshold
stipulated in the Fiscal Responsibility Act, 2007 and clearly highlights our
commitment to fiscal prudence. We are determined to further rein in domestic
borrowing, and this way, ensure that our debt stock remains at a sustainable
level.
52. Our focus
on critical economic and social sectors continues. Some of these sectors are
largely driven by private sector activity, while others require a great deal of
public sector support. Some key allocations are as follows: Works – N183.5 billion;
Power - N74.26 billion; Education – N426.53 billion; Health – N279.23 billion;
Defence – N348.91 billion; Police – N319.65 billion; and Agriculture &
Rural Development – N81.41 billion.
53. The power
and gas sectors require a lot of investments to sustain our supply
improvements. We shall therefore complement available resources with a proposed
Infrastructure Euro Bond of about $1 billion in order to complete gas pipelines
and other infrastructure investments. We
have also programmed other grants and soft credits critical to infrastructure
and other sectors in our medium term external borrowing plan.
54. The
SURE-P will continue with the expected resources of N180 billion in 2013
augmented by the projected 2012 unspent balances bringing the total to about
N273.5 billion. We hope to make further progress in the programme, providing
additional infrastructure investments and social safety net schemes for
Nigerians. I am pleased to also lay before this esteemed Assembly, the 2013
Budget for the SURE-P.
Fiscal Policy
55. To
promote Nigerian agriculture and industry, we will continue to implement
supportive fiscal measures for some priority areas. You will recall that in my
2012 Budget speech, I announced fiscal measures on rice, cassava, wheat, and
machinery for the agriculture and power sectors. In this regard, I am pleased
to announce the following additional measures which will be effective from 1st
January 2013:
a. Sugar:
Machinery and spare parts imported for local sugar manufacturing industries
will now attract 0% duty; there will also be a 5-year tax holiday for
“sugarcane to sugar” value chain investors. Furthermore, import duty and levy
on raw sugar will be 10% and 50% respectively, while refined sugar will attract
20% duty and 60% levy;
b. Rice: A 10%
import duty and 100% levy will be applied to both brown and polished rice;
c. Aircraft: All
commercial aircraft and aircraft spare parts imported for use in Nigeria will
now attract 0% duty and 0% VAT. This will appreciably improve safety in our
skies as newer fleet and less onerous maintenance will prevail;
d. Solid Minerals:
Machinery and equipment imported for use in the solid minerals sector will now
attract 0% import duty and 0% VAT; and
e. Public Mass
Transit: In order to encourage the production of mass transit vehicles in
Nigeria, duty on Completely Knocked Down components (CKD) for mass transit
buses of at least 40-seater capacity, will now be 0%, down from 5%. Government
is desirous of supporting green growth and, in this regard, will explore
options for providing incentives for energy efficient vehicles from the 2014
fiscal year.
Gender Empowerment
56. This
administration is gender friendly and has worked to improve the position of
women in society and empower them economically. Nevertheless, to further
integrate women in the various sectors, we have developed an innovative
approach to mainstreaming gender issues starting with 5 pilot ministries –
Agriculture, Health, Communication Technology, Water Resources and Works. These
ministries are signing MOUs with the Ministry of Women Affairs to deliver on
specific services for women.
a. The
Ministry of Agriculture, for example, will work with the Ministry of
Communication Technology to ensure that 5 million women farmers and
agricultural entrepreneurs receive mobile phones to be able to access
information on agro-inputs through an e-wallet scheme.
b. The
Ministry of Health, in addition to scaling up its ongoing “Save a Million
Lives” initiative, plans to give back health and hope to one-third of the pool
of young girls and women who have been waiting a long time for V.V.F repairs
through surgery and economic rehabilitation. In addition, we are up-scaling
routine immunization.
c. For
2013, the Ministry of Works plans to increase the number of women that are
employed in public works programmes as contractors, workers and project
evaluators, setting itself a target of 35% for women in FERMA rehabilitation
work. In every geopolitical zone, at least 3 roads leading to areas where
women’s socio-economic activities are concentrated, will be prioritised and completed.
57. To
support these activities, we have set aside the sum of N3 billion to be
disbursed to participating MDAs as incentives for them to deliver on these
targets. Our focus on empowering women is part of our agenda for improving the
country’s human development indicators. In this regard, we shall not relent in
our efforts to improve access and quality in our health and education sectors.
Sports
58. The
performance of our sportsmen and women continues to strike an important chord
for all Nigerians across the country. We want to take our sports to great
heights again. We all recall our disappointment with our performance in the
recent Summer Olympics games in London. At the same time, we were very
delighted with the success of our Paralympics athletes.
59. My
Administration is committed to addressing the challenges faced by our sports
men and women. Later this month, I will be hosting a Presidential retreat on
sports in order to strategise on ways to support our sports sector to achieve
greater heights.
CONCLUSION
60. Mr.
Senate President, Mr. Speaker, Distinguished and Honourable Members of this
esteemed Assembly, Fellow Nigerians, the Budget Proposal I lay before you today
represents our continued drive for real and sustainable growth for the
wellbeing of Nigerians.
61. It is a
budget that gives priority to our concerns for security, infrastructure, food
security and human development sectors. It is a Budget that introduces a series
of innovative features. This Budget is a push in the right direction borne out
of our well thought-out and articulated developmental policies.
62. This is a
budget for every Nigerian. It belongs to the farmer, the investor, the
entrepreneur, the youth and the elderly. Yes, we have challenges, but also
incredible opportunities. Ours is the task of transforming these opportunities
into real, tangible outcomes which all our people can experience and call their
own. We need the cooperation of everyone to make it work, to grow the economy,
and to create jobs for our people. I continue to call on all Nigerians to act.
Making Nigeria work begins with you and me.
63. Finally,
I must restate my appreciation of the contributions and cooperation of the
Legislature in discharging our collective responsibility to build the nation of
our dreams.
64. I look
forward to an expeditious consideration and passage of this Proposal, as we
strive to guarantee positive socio-economic transformation for the benefit of
our people.
65. May God
bless the Federal Republic of Nigeria.
66. I thank
you.
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