My 100 Days Covenant With Nigerians – Muhammadu Buhari Management of the Economy for prosperity * Every Nigerian deserves to benefit from the running of our collective resources. We promise not to leave any Nigerian behind in our determination to create, expand and ensure equitable and effective allocation of economic opportunities. No matter the amount of funds we generate, unless there is an efficient and effective utilization, it will only create few billionaires. Unless we fight corruption, the economy will only benefit the greedy in our society. I pledge to: * Work with the legislature to strengthen constitutional provisions to make the meetings of the National Economic Council more periodic and predictable and its decisions more binding. * Present annual report on the state of the economy to the National Assembly and the Nigerian People. * The Preparation of Medium Term Expenditure Framework (MTEF) and annual Budget which will be guided by job creation projections. * Negotiate rule-based oil revenue management process, and adopt a rule based excess crude account management process, which will entail a fixed percentage (e.g. 10% or 20%) of oil revenue each year, and also set clear rules about where the proceeds will be domiciled, when the savings can be used, by whom, and what the savings can be used for. * Work with the National Assembly to adopt a rule based, realistic and predictable oil benchmark as a basis for a more transparent management of federation account revenue and excess crude account. * Launch a Small Business Loan Guarantee Scheme in partnership with Commercial Lenders to improve access to finance for SMEs. * Automate the business registration process to ensure sole proprietorships can be opened within 24 hours and incorporated business within 5 days. * Reduce the cost of company registration to a maximum of N10, 000 for sole proprietorships to encourage formalization. * Review and regulate import duty waivers to promote transparency and accountability; * Forge partnerships with state and local governments and private sectors to promote innovation, entrepreneurship and cottage industries; * Work with the National Assembly to review and finalize work on the Petroleum Industry Bill (PIB); * Boost community and local participation in downstream through expansion and promotion of local content development; * Commence organizational reforms to curb corruption in NNPC and its subsidiaries
Posted on: Mon, 26 Jan 2015 04:39:46 +0000
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