In this period of austerity measures, let the Presidency and the National Assembly lead the way in the adjustments. They will soon discover that Nigerians are wonderful followers. Specifically, the two arms of government should slice their votes by a minimum of 50 per cent. The Presidency should empower security agencies to do the simple task of stopping oil theft and thereby increasing our crude oil production volume to not less than 2.5mbpd. It is incredible that we have continued this story of crude theft for over four years. This, obviously, cannot go on indefinitely. Stopping oil theft is not rocket science; it is achievable with the right attitude to official duty. The benchmark price of crude oil should be reduced to a realistic estimate, not more than $55pb so as to avoid generating apologies for budget failure. We should have a moratorium on borrowing unless it is tied to specific capital projects. The President and National Assembly should also endeavour to fix the debt ceilings so as to rein in frivolous borrowing and ensure that new debts build the capacity to grow the economy and our ability to repay. It is also imperative to reallocate service wide votes to the MDAs in need of them. - Eze Onyekpere
Posted on: Fri, 02 Jan 2015 06:12:23 +0000
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