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Thursday, January 16, 2014

NIGERIA - konjo-Iweala in 100-Page Reply to House On Economy

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The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has provided a detailed 100-page documented response to the 50 questions posed by the House of Representatives Committee on Finance on the state of the economy.
In a statement issued by her Special Adviser on Media, Mr. Paul Nwabuikwu, the minister said the document provides, in extensive detail, including tables and graphs, answers to the committee's well-publicised questions.
The minister confirmed to THISDAY that the document was delivered to each of the members of the finance committee Wednesday evening.
In her response, Okonjo-Iweala stressed that in spite of the many challenges which government had acknowledged, the Nigerian economy is showing real and measurable progress in many areas, adding, "This can be seen in the fact that more jobs are being created; roads, rail and other infrastructure are being improved; the country is saving for the future and planning better for the present."
According to her, "The Jonathan administration, contrary to the impression given by some critics, is making an impact in the areas that, according to credible opinion polls, Nigerians are most passionate about.
"For instance, on job creation which is a central focus of the administration, a total of 1.6 million jobs were created last year, according to the National Bureau of Statistics (NBS) of which 250,000 were seasonal jobs created in dry season farming in 10 northern states.
"In manufacturing, the Onne Oil and Gas Free zone created an estimated 30,000 direct and indirect jobs. The government special intervention programme YouWin supported young entrepreneurs, creating over 18,000 jobs. The SURE-P Community Services programme has also created 120,000 job opportunities."
The statement added that Okonjo-Iweala also pointed to the improvement in federal highways, which she said had been confirmed by many Nigerians who travelled during the Christmas and New Year holidays.
"Key highways which have witnessed significant progress include Kano-Maiduguri Road, the Abuja-Lokoja Road, the Apapa-Oshodi Road, the Onitsha-Enugu-Port-Harcourt Road and the Benin-Ore-Shagamu Road. Preliminary work has commenced on Lagos-Ibadan road and the Second Niger Bridge.
"The Railway Modernization Programme involving the construction of standard gauge lines is underway. The 1,124 km Western line linking Lagos and Kano is now functional, while work on the Eastern line linking Port Harcourt to Maiduguri is about 36 per cent complete.
"The Abuja-Kaduna Standard Gauge line has attained 68 per cent completion, and the Itakpe-Ajaokuta-Warri Line which is presently 77 per cent completed, will be completed next year.
"The annual passenger traffic on our railways has increased steadily, rising from 1 million in 2011 to 5 million in 2013," the minister's spokesman said.
One of the issues Okonjo-Iweala dealt with was the charge made by the Chairman of the Finance Committee, Hon. Abdulmumin Jubrin, in the media that the country is racking up debts under her watch as finance minister. On this issue, the statement said Okonjo-Iweala dismissed the allegation, stating there was no substance to the charge.
"In fact, the opposite is true. Right from her Senate confirmation hearing in 2011, the minister had identified rising debt as a major challenge, which the country needs to confront.
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