…As Obasanjo charges Nigerians on productivity

By Charles Adegbite and Adewale Sanyaolu

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Vice President Yemi Osinbajo, said yesterday that N6trillion budget is too small for the country in 2017 in view of its huge infrastructural projects and other things the Federal Government intend to accomplish.
This was as former President Olusegun Obasanjo urged Nigerians to produce more and trade more in order to get out of the current economic recession and wax stronger as a nation.
Obasanjo called on Nigeria leaders to start eating only foods produced made in Nigeria foods and goods for the nation to get out of recession quickly.
Meanwhile, Osinbajo who was the Special Guest of Honour  at the 18th  Regular Meeting of the National Council on Industry, Trade and Investment, held at the June 12 Cultural Centre, Abeokuta, Ogun State, also canvassed  global competitiveness, saying this was very critical for the nation to get out of recession.
According to him, the Federal Government targets production of 7,000megawatts in the first quarter of 2017 which requires completion of some of the power transmission projects being executed.
“In order to increase productivity there are lots of things we have to put in place. These include building of more infrastructures, we need to focus more on made in Nigeria, buying Made-in-Nigeria goods and eating more of Made-in-Nigeria foods,” he said.
The Vice President disclosed that the Federal Government would be focusing more on infrastructures in 2017, stressing “we are doing a lot more on power.”
He noted that in February 2016, the present administration was producing 5,000 megawatt of electricity which was the highest in Nigeria history  but expressed disappointment that vandalisation  in Nigeria Delta reduced production of gas and consequently led to the collapse of power produced to 2500megawatts.
“We are also trying to increase more of gas production. We’re trying to achieve 7,000megawatts by first quarter of 2017 through series of the power transmission projects we are embarking on.
“This is achievable if the vandalsation in the Niger Delta stops.  A lot of these depend on peace in the Niger Delta because of importance of gas” he added.
Osinbajo noted that the government was making all efforts to  ensure that vandalisation stops in the region, “Because we are looking forward to being able to supply gas to all the power transmission plants.
He also disclosed that a lot of debts were being owed “and this is preventing further investment into that sector. But we are working closely with the Central Bank to try and increase liquidity into that and ensure that it remains viable so that more of private investors come into that sector.” he explained.
He noted also that the Federal Government was also working on rail project from Lagos to Kano and to Calabar.
In his opening remarks, the Minister of Industry Trade and Investment,Mr.Okechukwu Enelamah,said the current economic recession is laden with great challenges and historic opportunities,adding that the administration of president Muhammadu Buhari is working hard to deliver on core priority areas.
He explained that the meeting seeks to gather inputs from stakeholders in a bid to harness all the thoughts for the purpose of implementation.
The meeting had in attendance some  members of the Federal Executive Councils, Chairman Senate Committee on Trade and Investment, Governor Ibikunle Amosun, who was the chief host, Ogun State Obas, captains of industry and other critical stakeholders in the sector.