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PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA
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PRESIDENTIAL MID-TERM REPORT Summary of Policies and Strategies for Delivering The Transformation Agenda by DR. NGOZI OKONJO-IWEALA

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President Jonathan’s Administration believes that putting aside some money for emergencies is important just as we all do for our families. So this administration has supported a policy of savings for …

President Jonathan’s Administration believes that putting aside some money for emergencies is important just as we all do for our families. So this administration has supported a policy of savings for development. This is a detailed presentation from the Ministry of Finance as delivered by the honorable Minister. Dr. Ngozi Okonjo-Iweala

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  1. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime|DR. NGOZI OKONJO-IWEALACoordinating Minister for the Economy &Hon. Minister of FinanceMay 29, 2013PRESIDENTIAL MID-TERMREPORTSummary of Policies and Strategies forDelivering The Transformation Agenda
  2. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 1What Have We Done So Far?Where Are We Coming From?
  3. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 2Insufficient Jobs andPoverty1345High FoodImportation/FoodInsecurityHousingDeficitHigh Inflation279Dependencyon OilExportsFallingReservesHigh RecurrentExpenditureRisingDomesticDebt68Infrastructurein Poor StateNigerian Economy Faces Many Challenges Which TheTransformation Agenda Is Designed To Address
  4. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 3What Have We Done So Far?
  5. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 4The Economy Is Strong But Faces Challenges OfInequality & Inclusion• GDP growth in 2013 is expected at 6.5% (NBS) or 7.2% (IMF)GDP is One of the Fastest Growing in the World• Dollar exchange rate has been between ₦155 and ₦160 over the last twoyearsExchange Rate is Stable• Inflation rate has slowed to 9.1% from 12.4% in May 2011Rate of Inflation is Coming Down• From $32.08 billion in May 2011 to $48.4 billion as of May 2013• Excess Crude Account (ECA) - (Component of External Reserves)- Rise from about $4 Billion in May 2011 to around $9 billionat the end of 2012, but now about $6 billion in May 2013•• - ECA now helping us since oil production has fallen from theprojected 2.53 million bpd to between 2.1 – 2.2 million bpdExternal Reserves are RisingA
  6. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 51 FootnoteSOURCE: Nigeria Sovereign Wealth Investment Authority; Federal Ministry of FinanceUS$1 billionearmarked forinvestment in the 3arms i.e. StabilityFund, InfrastructureFund and FutureGeneration FundManagement teamhas developed acomprehensivestrategy documentwhich waspresented at itsinaugural boardmeeting on 13thNovember 2012The NSIA tocommence coreinvesting activitiesfrom Q2 2013 andcurrently evaluatingpotentialinfrastructureinvestmentopportunities1The Board of theNigeria SovereignInvestmentAuthority wasInaugurated on 9thOctober, 2012234Sovereign Wealth Fund Is In Place…President Jonathan’s Administration believes that putting aside some moneyfor emergencies is important just as we all do for our families. So thisadministration has supported a policy of savings
  7. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 6• Policy is to reduce recurrent expenditure and complete unfinished capital projects• - Recurrent expenditure has dropped from 74.4% of total budget in 2011 to 68.7%in 2013• Envelop system developed to enable Ministers prioritize uncompleted capital projectsCost of Government is Reducing• Annual Borrowing has fallen from ₦852 Billion in 2011 to ₦588 Billion in 2013Government Borrowing is Declining• Debt to GDP in Nigeria – 21%; South Africa – 42.7%; SSA -34.2%; USA – 106%;Japan – 225%; UK – 90%Our National Debt is Low• Government focusing on sectoral waivers rather than individual. e.g. agricultural, power,aircraft spare parts, solid minerals at zero dutyWaiver and Tariff Policies have Changed• Imports are down (textiles, plastic & rubber, paper & paper making material), and exportsare up (plastic & rubber, vegetable products, prepared food stuff and beverages).• - Non-oil exports have increased from 9% of total exports in 2008 to 31% in 2012• - Oil exports are now 69% of total exports, compared to 91% in 2008Trade has Improved
  8. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime|A New Petroleum Subsidy Payment Regime Is In PlaceTo Help Stem Leakages7…Revised Process (2-step audit process)Old Process…Marketer PaidAuditor: Witnessesphysical dischargePhysical verification Quantity discharged Claim to be paidAuditor #1: Witnessesphysical dischargePhysical verification Quantity dischargedAuditor #2:Fiscal verification• We audited ₦1 trillion in subsidy and found ₦232 billion questionable. So far,we have recovered about ₦14 billion. We have tightened the paymentprocess• PPPRA reduced the number of oil marketers from 143 to 32Marketer Paid
  9. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 8Contributory Pension Scheme Is Sound But Defined Benefits SchemeIs Being Reformed To Prevent FraudBackgroundObjectives• The Federal Government Defined Pension Scheme is decentralized and managedby several pension offices/department and is inconsistent with the intention of thePensions Reform Act (2007)• The Pensions Reform Act (2007) establishes a pension department known asPensions Transitional Arrangement Department (PTAD) to oversee themanagement of pensions under the Defined Benefits Scheme for pensioners nottransiting to the Contributory Pensions Scheme• Following Mr. President’s directive to ensure strict compliance with theprovisions of the Pensions Reform Act (2007), the CME/HMF inaugurated anInter-Ministerial Committee in August 2012 headed by the Director-GeneralPensions Commission (PenCom) to carry out Mr. President’s instruction• The Inter-Ministerial task was structured into two phases:o Phase One: Design the governance and operating framework for the PTADo Phase Two: Data validation and authentication of the existing pensionersdatabase and the development of an authentic databaseKeyAchievements• Phase one completed and Phase Two is underway• Result: All Defined Benefit Pension Systems for Civil Service, Police,Prisons, Immigration, Customs etc. will be managed in one departmentreporting to Ministry of Finance with direct payment to beneficiaries basedon biometricsDefined Benefits Scheme:
  10. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 9Expenditure side measures takenIntroduction of the Government Integrated Financial Management andInformation System (GIFMIS) in April 2012.• GIFMIS is aimed at improving the acquisition, allocation, utilization andconservation of public financial resources using automated and integrated,effective, efficient and economic information systems.• 58% of the budget now executed through GIFMIS. Will rise to 79% by endof third quarter 2013.Treasury Single Account (TSA) is a unified structure of government bankaccounts that gives a consolidated view of the cash position.• 93 MDAs are currently on TSA• Government’s overdrawn position has dropped from ₦102 billion in 2011 to₦19 billion in 2012The Integrated Payroll and Personnel Information System (IPPIS):• Enhances efficient personnel cost planning and budgeting as personnel costwill be based on actual verified numbers and not estimates• 215 MDAs (153,019 staff) are on IPPIS as at Jan 2013• Savings on Payroll cost to date is ₦118.9 billion• Work ongoing to bring in other 321 MDAs not yet on IPPISGovernment Has Put In Place Systems To Increase Efficiency InPublic Financial ManagementIPPISGIFMISTSA
  11. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 10• Ratings by international agencies like Fitch, Standard & Poor’s, andMoody’s have improved to BB- (or equivalent)• As a result, Nigerian corporates are able to borrow at cheaper rates onthe international credit markets• A number of our banks have gone to raise funds abroad e.g. Access Bank($350 million Euro Bond), GTB ($350 million Euro Bond), Fidelity Bank($300 million Euro Bond)Nigeria’s Credit Ratings Have Improved• Domestic bonds included in JP Morgan and Barclays emerging marketIndex• About $7 Billion invested in Nigeria by foreign investors in 2012• Nigeria has become the highest investment destination in AfricaInternational Investors are More Interested in NigeriaStrong Economic Performance Has Received International Validation
  12. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 11Government Has Been Reforming The Financial Sector…Cleanup of the BankingSystem Complete…Government Policies haveSupported Capital Markets(e.g. Forbearance,Elimination of VAT &Stamp Duties, etc.)• As a result, capital marketshas now rebounded…• Stock market index has risenby 71% since May 2012• Stock market capitalization(value of listed companies)has increase by 66.2% sinceMay 2012 to ₦11.8 trillion• Through government policies(e.g. introduction of micro-insurance, compliance withcompulsory insurance, etc.)more Nigerians are nowaware of Insurance Policies• Number of policy holders hasalso increased from 700,000in 2010 to 1.5 million in 2012• Claims paid increased from₦37 billion in 2010 to ₦52billion in 2012• All 24 banks are now fullystable and capitalized• Non-Performing Loans havefallen to about 5%• But not enough lending isgoing on at affordable interestrates so the government is:Restructuring existing DFIs toget in private sector capitalCreating a new wholesale DFIfor 10-15 year money ataffordable ratesInsurance Sector is DoingBetter…..
  13. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime|Of the FG’s ₦180 billion budgeted for the 2012 SURE-P, ₦86.5 billion was spent. The remainingbalance of ₦93.5 billion was carried over into the 2013 SURE-P budget bringing its sum to about₦273.5 billion in projected expenditure.Subsidy Reinvestment Program (SURE-P)S/N Classification/Projects 2012(Annual Budget,N’ Bns)2013(Annual BudgetN’ Bns)A SOCIAL SAFETY NETS (e.g. Maternal & ChildHealth, Mass Transit, Community Services,Graduate Internship Scheme)38.44 40.83B NIGER DELTA Augmentation for East-West Road(Sections 1-4)21.70 42.27C WORKS (ROADS & BRIDGES) (e.g. Abuja-LokojaRoad, Kano-Maiduguri, Oweto Bridge)85.50 111.50D TRANSPORT (RAIL) (e.g. Lagos-Kano, Port-Harcourt - Maiduguri)33.36 77.42E OTHER EXPENSES (e.g. SURE-P Board, M&E) 1 1.5180.00 273.52Breakdown of FGN SURE-P BudgetSubsidy Savings 2012 2013 (Jan – May)Federal Government ₦180 Billion ₦75 BillionStates Government ₦154.6 Billion ₦64.4 BillionLocal Government Councils ₦76.4 Billion ₦31.8 billion12
  14. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 13• Rehabilitation of the main Rail Lines (moribund for 15 years):o Western Line: Lagos – Kano; 1,124km completed and functionalo Eastern Line: Port-Harcourt – Maiduguri; expected to be completed by 2013o Abuja – Kaduna Standard Gauge Line – 60% completedo Itakpe – Ajaokuta – Warri Standard Gauge Rail Line – 77% completed• Procured 25 new locomotives from General Electric (GE)• Refurbished over 200 Coaches and Wagons• Investment incentive MoU with GE to develop a Multi Modal Locomotive AssemblyFacility in Nigeria to handle an initial 200 locomotives over 10 years.• Number of Passengers Carried by rail has risen significantly, from about 1 million in2009 to about 4.2 million in 2012.RAIL
  15. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 14INLAND WATERWAYSDredging of Lower River Niger from Baro in Niger State to Warri in Delta State (72km)has made possible all year round Navigation.Construction of Inland Ports• Onitsha Port completed and commissioned – to be concessioned out later thisyear• Baro Port under construction – to be completed this year• Oguta Port under consideration. Also expected to be completed this yearResults• Volume of cargo in the inland waterways has risen from 2.9 Million MetricTonnes in 2011 to 4.03 Million Metric Tons in 2012• Number of Passengers travelling en route inland waterways increased from250,000 in 2011 to 1.3 million in 2012
  16. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 15AVIATION1) Overhaul of the Airport Infrastructure• Embarked on the remodeling exercise of the terminal infrastructure in all 22 airports across thecountry in two phases (75% complete)o Impact: Improved passenger experience• Upgraded the air navigational aids/equipment and integrated control tower modernization. Theseinclude Aeronautical Information Service (AIS) Automation, Total Very High Frequency RadioCoverage, World Geodetic Survey-84 Survey, VSAT network and Fibre Optics Ringso Impact: State-of-the-art equipment for safe air navigation, weather observation andforecasting.2) Introduction of the Aerotropolis Concept & Development of the Business Model• Will create direct and indirect job employment opportunities for up to 500,000 Nigerians• Increase foreign direct investment• Opens Nigeria as a gateway for economic activities and creation of megacities in locationsidentified for the aerotropolis.
  17. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 16AVIATION (contd…)3) Review of Existing Policies to Enhance Safety, Economic and CommercialActivities in the Aviation Sector• Review and launch of the Nigerian Civil Aviation Policy (also includes economiccommercial regulation of domestic airlines, introduction of policies forgeneral/business aviation - private jet/helicopter, maintenance repair & overhaulfacilities)• Removal of import duties and charges on aircrafts and spare parts4) Development of Perishable Cargo Facilities• Designated 6 airports in proximity to food baskets as perishable cargo airports- Jos,Makurdi, Yola, Jalingo, Lagos and Ilorin.• Developing international standard perishable cargo facilities at these designatedairports.• Established a new Cargo development Division in FAAN to give focus to this effort
  18. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 17• A total of 651km of roads paved with bitumen in 2012 including:o Apapa-Oshodi Expressway; Benin-Ore-Shagamu Highway; Abuja-Abaji-LokojaDualization; Kano-Maiduguri Dualization; Onitsha-Oweri Expressway; Vom-Manchok Road (Plateau State), Enugu-PH repairedo Katsina-Daura Road, Kano-Maiduguri Road, and Gombe-Numan Roado Oweto bridge almost complete.o 2nd Niger Bridge – PPP design advertised and awarded. Design ongoingROADS• Reduced the number of agencies operating in the ports from 14 to 7.• Disbanded NCS task force that harass cargo on the highway.• Ports operating a 24-hour regime for the first-time since 1970PORTSClearing time reduced from 39 days to 7 days for trouble-free cargo,but target is 48 hours !
  19. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 18POWERProgress on Roadmap Implementation:• Successful bid for the unbundled PHCN companies (11 Discos and 6 Gencos).• Creation of the Nigeria Bulk Electricity Trader and NELMCO.• Licensing to facilitate privatization of 34 IPPs, of which 3 have commencedoperations.• Introduction of Cost Reflective Tariffs to make private sector investment attractive.• Concession of the TCN to a private provider (Manitoba Hydro) to upgrade andexpand the transmission network.Results:• Power generation increased from 3,514MW in 2011 to 4,500MW as at Dec. 2012.• Average hours of power availability in 10 major cities has increased from a low ofless than 9 hours in 2011 to around 15 hours in 2012.• Additional 2,500MW from NIPP plants by end of 2013.• Realize there is still a long way to go but present Privatization and LiberalizationPolicy in power will help as it has done in Telecoms.
  20. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 19Increased Access to Safe (Potable) Water• The Federal Government completed 7 water supply projects across the nation, providingabout 4.3 million Nigerians with access to water.• As at the end 2012, 65.29% of the population now have access to improved watersources, compared to 60% in 2011.• About 4,547 jobs were created in the process.Hydro Power Generation• Nine dams completed in: Akwa Ibom, Katsina, Enugu and Ondo States• Capacity to generate 11.2 MW• About 125,000 jobs createdIrrigation• 10 irrigation projects deployed for crop production• Size of irrigated land increased from 90,000 in 2011 to 175,000 hectares in 2012• About 375,000 farmers now have access to irrigate land from 236,000 in 2011• Supporting food production:Rice – 75,802 Tonnes; Maize – 51,631 Tonnes; Sorghum – 50,695 Tonnes; Veg – 177,050TonnesWATER
  21. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 20SECTORALREFORMS
  22. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 211. Ended Corruption in Fertilizer and Seed Sector• The Government ended 4 decades of corruption in the seed and fertilizer sectors within 90 days• Ended direct procurement and distribution of seed and fertilizers to farmers. GES system savedthe Federal Government ₦25 billion ($156 million) in 2012• Private sector seed and fertilizer companies now sell directly to farmers. ₦15 billion ($100million) of fertilizers sold and ₦1.5 billion ($10 million) of seeds sold directly via e-wallet system2. Growth Enhancement Support (GES) Scheme with E-WALLET• Cellphone-based system developed to send subsidies via electronic vouchers (e-wallets) directlyto farmers via their cellphones• First ever database of farmers developed; 4.2 million farmers registered and now being updated/monitored annually (KYC)• Nigeria is 1st country in Africa to develop the E-wallet for input delivery to farmers3. Rice Revolution Takes off• Dry season production through irrigation in ten Northern States (Kebbi, Zamfara, Sokoto,Katsina, Kano, Jigawa, Gombe, Niger, Kogi and Bauchi) resulted in output of 1.07 MillionMetric Tonnes by about 268, 000 farmers.• Total combined production of Dry Season and Main Season paddy is 1.76 Million MetricTonnes• 13 New Rice Mills with a total capacity of 240,000 MT have been set up by the private sector• Nigeria is on target for Self Sufficiency in RiceAGRICULTURE
  23. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 224. Cassava Revolution Takes Off• Developing Cassava value chains for new value-add products (high quality cassava flour, cassavachips, ethanol, starch, sweeteners) through private companies:o Starch processing: Cargill, Crest Agro Products (Both within the Kogi State CropProcessing Zone)o Cassava Starch to Sobitol: Unilever, Ingrediono Cassava for Beer Products: SAB Miller• Expanded production of high quality cassava flour (HQCF) to substitute imported wheat in the bakingindustry (commercialized 20% use of HQCF in bread)• Secured 3.2 million MT contract orders from China for export of dried cassava chips for Ethanolproduction.5. Food Production Rises and Expected Food Crisis Due to 2012 Floods Averted• 8 million MT of Food added to domestic food supply in 2012, 70% above target• Food crisis from 2012 flood averted6. Attracted Private Sector Investors to Agriculture• Over $8 billion of private investment commitments indicated and deployed in agribusiness ventures• Attracted large indigenous and global multinational firms like Flour Mills of Nigeria, Dangote Group,Syngenta, Indorama, AGCO, and Belstar CapitalAGRICULTURE (contd…)TARGET OF 3.5 MILLION JOBS BY 2015
  24. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 23MANUFACTURING• Given our large domestic market, policy is to encourage import substitution, wherewe have a comparative advantage, and exports, where we can be competitiveinternationally• Development of National Industrial Revolution Plan (NIRP) with focus on the entirevalue chain of sub-sectors like agro-processing (e.g. rice milling, sugar procession,cassava for wheat flour and other products, etc.), consumer goods manufacturing,cement, textiles, and petrochemicals).• Completed the development of a Sugar Master Plan (NSMS) to provide roadmapfor 100% local production of sugar• Attained the position of an exporter of cement instead of a net importer. With noimport permit issued in the whole of 2012 for cement importation, a savings of overN200 billion was made.• Transformation of the Onne Oil and Gas Free zone with $6 billion invested leadingto the attraction of 150 companies into the zone with 30,000 jobs created to date• Promoting foreign investments in manufacturing e.g. Indorama’s $1.2 billionfertilizer plant at Onne, Procter & Gamble’s $250 million consumer goods plant inOgun State, SAB Miller’s $100 million brewery at Onitsha.
  25. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 24OIL & GASOil Sector• Petroleum Industry Bill (PIB) that will improve efficiency and investmentwithin the sector submitted to the National Assembly for Approval.• On-going Rehabilitation of Kaduna, Port-Harcourt and Warri Refineries.In Addition, Major Developments in Gas Sector• Construction of a 36” x 136km gas pipeline from Oben to Geregu for thesupply of gas to Geregu Power Plant Completed in 2011.• Construction of a 24” x 31km gas pipeline from Itoki to Olorunshogo tosupply gas to the Olorunshogo PHEN/NIPP Power Plant.(Completed and Currently Supplying gas).• Reduction in gas flared from 25.3 percent in 2011 to about 20 percent in2012, due to the government efforts in implementing the Nigeria GasMaster Plan (NGMP).
  26. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 25Government Policy is To Provide Nigerians Access to Affordable Housing• The FG (through National Housing Fund) built more than 61,800 housing units inthe six geopolitical zones to provide affordable and quality houses.• Increasing Access to Mortgage Finance through a Mortgage Refinance Company(MRC). To be launched between July – August 2013. Mortgages available starting2014.• MRC will be a PPP arrangement with shareholders that will include Government,International DFIs, Nigerian Banks and Insurance Companies.• MRC to enable up to 200,000 affordable mortgages within 5 years.• World Bank to support Government with investment of up to $300 million at zerointerest, 40 year loan, 10 years grace, and 0.7% commitment charge, which willhelp lower costs, especially interest rates.HOUSING
  27. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 26Government created for the first time a new Ministry of Communication Technology to champion Reform• Increasing the Ease of Doing Business for Telecom Services Providers:o Streamlined Application for building infrastructure. Applications now processed within 30 days; right ofway reduced from ₦ 5 million to ₦145,000.o Reduced multiple taxation on operators.o Strong government support to and licensing of mobile companiesAs a Result:• Mobile phone subscriptions have increased:o In 2004, only 8.5% of the population had access to mobile phones, but this will increase to92.75% in 2013.• Access to internet is rising. 38% of Nigerians now have access, compared to 34% at the end of 2012.o As a result, more of government services (e.g. passport) are being delivered online (to the convenienceof Nigerians)o Government is now delivering around 50 services online, compared with 30 at the end of 2012.• Promising local employment opportunities:o 1800 individuals registered in micro work/e-lance initiative equating to $121,000 new revenues.o Online shopping habit in Nigeria is gradually gaining momentum. Online vendors, e.g. Konga.com, andJumia.com which reports about 100,000 unique visitors each day. Value of online shopping grew 25%to ₦62.4 billion in 2011 from ₦49.9 billion in 2010• Quality of service remains a problem and we are encouraging more investment by the companies totackle this problem.ICT
  28. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 27In line with the National Strategic Health Development Plan, the Ministry of Health has outlined aVision to Save One Million Lives and improve the Quality of care in Health Facilities by 20151) Improved Access to Primary Healtha) Under the “Save One Million Lives” initiative, over 433,650 lives were saved in 2011 and 2012 byscaling up 6 cost-effective interventions including Maternal & Child Health, Nutrition, Preventionof Mother to Child Transmission (PMTCT) of HIV, Provision of Essential Commodities, MalariaControl, Routine Immunization / Eradication of Polio.b) Maternal and Child Health (SURE-P):• A total of 9243 frontline health workers have been recruited, trained and deployed.• 1500 primary healthcare facilities have been refurbished and supplied with the essentialcommodities.• Maternal mortality has dropped by more than 50% in Midwives Service Scheme (MSS)facilities from 2009 to 2012.• Conditional Cash Transfer (CCT) Scheme.o Launched in May 2013, 172 female beneficiaries have received cash transfers totaling₦206,900 from the first pilot Primary Health Centre.o Eight States (Anambra, Bauchi, Bayelsa, Ebonyi, Kaduna, Niger, Ogun, and Zamfara)to roll out CCT Programme as from June 2013.2) Improving Tertiary Healthcare• Several teaching hospitals and medical centers have been rehabilitated and modernized e.g. OAUand UNIBEN Teaching Hospitals. But key push is for Private Sector to provide world-classinstitutions for Nigerians and stop medical visits abroad.HEALTH
  29. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 28Policy is to get 10.6 million “OUT-OF-SCHOOL” children “IN-SCHOOL”, and improve Quality ofEducation and Access at all levels.Government has a long way to go but the journey has begun.1) Promoting Access to Affordable Education & Improving Quality• 1-year Early Child Education institutionalized as part of the education system to enhance accessand quality of learning outcome• Construction of 124 Almajiri Schools to reduce the number of out-of-school children in the North.• Construction of special girls school in 13 states of the Federation has began to improve girlseducation program.• Establishment of 12 new universities to enhance access to a Federal University in all states.• Significant improvement in students performance in public examinations from 23% in 2010 to39% in 2012 for WAEC and 9% in 2010 to 31% in 2012 for NECO2) Special Intervention• Establishment of a High Impact Fund to support higher institutions of learning to becomeCenters of Excellence in specific areas. Each selected University gets ₦3 Billion; Polytechnicsand Colleges of Education ₦1 Billion• Awarded a total of 101 Presidential Special Scholarships for Innovation and Development(PRESSID) to beneficiaries for training in top 25 universities in the world.• Attention is turning to Vocational Training for Plumbers, Carpenters, Technicians and ArtisansEDUCATION
  30. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 29• From the Presidential Sports Retreat following Nigeria’s poor performance at the Summer Olympics2012 (though our Paralympians made us proud with 12 medals), Policy is to support our sports menand women with better sports governance, finance, training facilities for Nigeria to excel ininternational and domestic competitions.• Focused on:o Developing new framework for sustainable sports financing in Nigeria (with Private Sectorparticipation), including use of Lottery Fundso Instituted a new three-tier disbursement system for funding sporting activities across grassrootsand elite sports programso Received Presidential approval to recruit a National High Performance Director to head a HighPerformance Directorate set up within in NSC.o Developed Rhythm N’Play as the national mobilization campaign for grassroots sports in Nigeriao Ongoing infrastructure rehabilitation e.g. for National Stadium• The Results are:o Super Eagles won 2013 Africa Cup of Nations after 19 years.o The Golden Eaglets finished 2nd at the U-17 African Championship in Moroccoo The Flying Eagles finished 3rd at U-20 African Championship in Algeriao Nigeria placed 1st at the 2012 Senior African Athletics Championship in Port Novo and emergedoverall winner with 10 Gold, 6 Silver and 5 BronzeSPORTS
  31. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 30CREATIVE INDUSTRIES• Key Reform Focus is to Develop:o Policies to protect intellectual propertyo Fiscal measures such as tax or duty waivers• Infrastructure Support:o Culture and Tourism Ministry completed the construction and equipmentof three new Cultural Industry Centers in each of Taraba, Ogun, and FCTo Completed the rehabilitation of the National Theatre• Special Initiatives:o Mr. President announced Project Advancing Creativity and Technology(ACT) Nollywood - ₦3 billion grant program for Nollywood.
  32. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 31In addition to SectoralInitiatives, GovernmentDirect Job CreationInitiatives are Delivering…
  33. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 32Youth Enterprise with Innovation in Nigeria(YouWiN!) ProgramYouWiN! Results• Trained 12,000 aspiring or existing young entrepreneurs.• Presently funding 1,200 entrepreneurs identified in the first round of the three roundcompetition• Identified 1,200 women in May 2013 across the six geopolitical zones to receive fundingin the second round• As at March 2013, a total of 12,108 jobs have been created across the country in theearly stages of the first round. At least 80,000 jobs expected by the end of the third roundin 2015.REGION NO. OF JOBSNorth-Central 2,117North-East 2,367North-West 1,703South-East 1,579South-South 1,765South-West 2,577SECTOR NO. OF JOBSAgriculture 3,499ICT & Media 1,863Manufacturing 3,160Retail 543Others 3,043Total 12,108Breakdown of Job Creation by Geo-Political Zoneand Sector (as at March 2013)
  34. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 33COMMUNITY SERVICES SCHEME (CSS) &GRADUATE INTERNSHIP SCHEME (GIS)Community Services Scheme• 370,000 youth to be employed annually.• 178,000 Youth already employed.Graduate Internship Scheme• Providing 50,000 graduates with internship in established privatessector organizations• 1,306 graduates placed so far
  35. LastModified2012/12/0710:45W.CentralAfricaStandardTimePrinted12/7/20122:04PMIndiaStandardTime| 34THANK YOU!!!

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