I Will Expose the Truth When the Time Comes – NNPC Boss Kyari Speaks on Sabotaging Economy

AgegePulse Magazine 

  – NNPC Boss Kyari

The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has declared that he will reveal the truth about the company’s operations when the time is right.

Kyari made this assertion on Wednesday while testifying before a Senate ad-hoc committee investigating alleged economic sabotage in the petroleum industry.

Led by Senator Opeyemi Bamidele, the committee is probing the oil firm’s activities amidst controversy and public scrutiny.

Kyari denied any involvement in the importation of sub-standard products, stating that NNPCL is committed to transparency and honesty.

The CEO expressed frustration over unfair media attacks, which he believes are aimed at tarnishing the company’s reputation and creating the impression of economic sabotage.

“We are not criminals, we are not thieves,” Kyari said. “We will protect our dignity so we can serve this country.”

Kyari also revealed that the oil and gas industry is bleeding, hinting at undisclosed issues which “they” knew that cannot be made public “until the time comes.”

Native Reporters

Nigeria 'Headquarters of Poverty in the World' says Sanusi

AgegePulse Magazine

The Emir of Kano, Sanusi Lamido Sanusi, has lamented that the richest man in Africa is from Nigeria and ironically, the country “is also the poverty capital of the world”.

According to him, Nigeria had no basis for spending $3billion to $4billion annually on fuel subsidy.

Speaking at the launch of “From Frying Pan to Fire”, written by the Chairman of ThisDay Editorial Board, Mr. Olusegun Adeniyi in Abuja on Thursday, Sanusi claimed Nigeria is now the headquarters of poverty in the world.

The monarch said: “If you come to Abuja Airport, it is filled with private jets. If you land in Abuja you will think Nigeria is a very rich country. We have beautiful roads and bridges; we have everything in Abuja.

“Go to the rural areas and see the large number of Nigerians there. It is a completely different world. It is a sad case and we need to deal with that. We must also remember that the discourse is not just a humanitarian discourse and it is not value-free.”

He also spoke of a mismanaged economy and misplaced priorities, stressing that subsidy funds should be spent on education, power and industry to create jobs.

In his view, Africans need jobs and they need a life to stop them from migrating to other continents.

Sanusi, however, said global inequality accounted for the migration crises being experienced in Europe, America and even Nigeria.

Native Reporter s

Exclusive:Encourage MSMEs Through Low Interest Loans - Bountiful Charges

Popular Agege's golden daughter, Mrs. Busayo Taiwo Adelanwa a. k. a Bountiful is in the news. This time it's not about community works with Elephant Club of Ogba or philanthropic engagement with Rotary Club, rather, it is an exquisite exhibition of her prowess in the business and financial sector.

She stressed that it's obvious that capital is the opium of any business but MSMEs suffer a lot because of their inability to service humongous credit facilities often offered by financial institutions.

Mrs Adelanwa who is the Convener of Bountiful Foundation, a business consultant and social worker while responding to questions on a TV programme (AM Chat of MITV) themed: Doing successful business in an unpredictable economy like Nigeria, she said it's high time financial institutions began to encourage Small and Medium Scale Enterprises with little interest soft loans if the country truly wants to build a self reliant economy.

Bountiful Highighted some areas which young  entrepreneurs need to envision before dabbling into any venture. she said they need to identifying a need, study the need to understand it (through feasibility studies, business ideation, business concept development, business planning, skill acquisition, internship and apprenticeship, market analysis, industry analysis), then feed the need sustainably and excellently (i.e product or services).

"In case of capital challenges, seek support from friends, families and folks. When you exhaust your lower hanging fruits, seek partnership, equity investors, angel investors, loan, grant." She asserted.

The social worker advised prospective businessman to make contractual agreements they can achieve,  "all agreement must be  win-win and keep all contractual agreement intact."

Thereafter, Bountiful urged government to ensure creating an enabling environment for business to flourish saying that "Chinese or Lebanese investors come into Nigeria with only a brief case and cart away money in containers.The briefcase on arrival is a cheque of international loan at a very low interest rate with longer moratorium yet he gets tax holidays here which indigenous investors may not get."

Queen of Netherlands visits Ambode, lauds LASG’s Health Policy

AgegePulse Magazine

…Lagos Health Insurance Scheme To Kick Off Early 2018, Says Gov

Queen of Netherlands, Her Majesty, Maxima Zorreguieta Cerruti on Tuesday paid a courtesy visit to the Lagos State Governor, Mr Akinwunmi Ambode as part of efforts to advance the United Nation’s financial inclusion advocacy as a vehicle to alleviate poverty and fostering equitable economic growth in Nigeria.

Queen Maxima, who was visiting Nigeria for the first time in the last five years, in her capacity as the Special Advocate to United Nations’ Secretary General on financial inclusion for development, said she was impressed by the initiatives of the State Government to improve service delivery especially towards expanding access to affordable healthcare.

While noting that it was important for governments to prioritize access to affordable healthcare, Queen Maxima particularly lauded the health insurance scheme of the State Government, which legal framework had already been put in place, saying that Governor Ambode deserved commendation for coming up with such laudable effort.

She said: “Today I had opportunity to visit two clinics in the State where I saw the new pilot project in which you (Governor Ambode) has also started looking into which is to make health insurance possible even to the poorest of the people.

“I was very impressed by the leadership that the State of Lagos has taken as to coming up with a law which makes health insurance mandatory and also to able to plan for the future and you are already doing some credit to some health facilities which off course will improve efficiency of a lot of these institutions. I commend you for your efforts and I will like to know from you Mr Governor what is your commitment on the future in this field,” she said.      

Responding, Governor Ambode said the Health Insurance Scheme of the State Government aimed at expanding access and scaling up healthcare delivery in the State will commence in early 2018.

He said the legal framework to guide the implementation of the policy had already been put in place, while every necessary efforts to ensure the success of the scheme were being put in place.

Governor Ambode, who received Queen Maxima alongside his wife, Mrs Bolanle Ambode and other top officials of the State, commended the visitor for her efforts at advancing issues relating to healthcare and financial inclusion.

Speaking on the health insurance policy of the State Government, the Governor said: “We are on the path of positive improvement on the things that have to do with health. Like the Queen rightly said, we have a law that allows us to do the Health Insurance Scheme which is targeted at the most-needy and the poor that cannot afford ordinary healthcare. We believe that if we pull the resources of every other person in the State together, those that cannot afford will be able to have a chance to access healthcare which is the main objective why the Queen has been going round to promote good healthcare for people generally.

“We want to say that we are deeply committed to that vision and we are committed to that ideals and also say that we will do everything possible to make sure that the Health Insurance Scheme starts up early next year and we can now allow people to have some sense of inclusion which is one of the basic principles of good governance.

“The main essence of good governance is for us to be able to carry everybody along. In a cosmopolitan city like Lagos that we have population of almost 22million people and the majority can really not afford the things we want them to, and so we believe strongly that a partnership like this is one in the right direction.”

On financial inclusion, Governor Ambode said the informal sector accounted for about 80 per cent of Lagos population, a development he said prompted his administration to set up N25billion Employment Trust Fund (ETF) to serve as an instrument to grant members of the sector access to finance.

Besides, Governor Ambode said it was time to call on the Federal Government to scale up financial inclusion with the view to expanding access for more people to benefit, while also calling for escalation of mobile banking to ensure that more people from the rural areas have access to finance and all issues connected.

While drawing the similarities between Lagos and Netherlands, Governor Ambode said the State, being a cosmopolitan city, is striving as much as possible to ensure that every resident is comforted with hope of great future.

He said the present administration in the State under him was also working hard to bequeath functional and affordable healthcare system to the people of the State, just as he assured that the State Government would do everything possible to support the United Nations initiative being championed by Queen Maxima.

Gov. Ambode appointed as Chairman of Southern Governors Forum (SGF) in Lagos

.Southern Governors unite on true federalism, devolution of powers

…To collaborate on security, infrastructure, economy

For the first time in 12 years, Governors of the Southern States of Nigeria on Monday met in Lagos, where they unanimously reiterated the call for true federalism and devolution of powers to States.

The Governors, in a communique at the end of the meeting read by the host Governor, Mr. Akinwunmi Ambode of Lagos State, also resolved to collaborate with one another for the growth and development of their economies.

Aside Governor Ambode, the meeting was attended by Governors of Ogun, Senator Ibikunle Amosun; Oyo, Seantor Abiola Ajimobi; Osun, Ogbeni Rauf Aregbesola, Ebonyi, David Umahi; Edo, Mr. Godwin Obaseki; Ondo, Arakunrin Oluwarotimi Akeredolu; Abia, Mr. Okezie Ikpeazu; Enugu, Mr. Henry Ugwuanyi; Bayelsa, Mr. Seriaki Dickson and Ekiti State, Mr. Ayodele Fayose.

Governors of Cross River, Anambra and Delta were represented by their Deputies - Mr. Evara Esu; Dr. Ikem Okeke and Mr. Kingsley Otuaru respectively.

Continuing with the communique, Governor Ambode said the Governors after extensive deliberations, also emphasized priority on security and lives and property of citizens of the regions, while also resolving to work on effective linkage on good infrastructure across the 17 States in the region.

At the meeting, Governor Ambode was unanimously appointed as the Chairman of the Southern Governors Forum (SGF) while Governors Seriaki Dickson of Bayelsa and David Umahi of Ebonyi States were appointed as Co- Chairmen of the Forum.
The Forum also scheduled the next meeting for Port Harcourt in a yet to be announced date.

Earlier, Governor Ambode, while welcoming his colleagues to the meeting, reflected on the clamour for true federalism and devolution of powers, saying that states will benefit from the envisaged restructuring.

He said the goals of true federalism, which included the strengthening of autonomy and the enhancement of fiscal viability will enable the states to develop at their own pace and based on their peculiarities.

He said the forum had achieved an increased awareness on the sustenance of the national question germane to peaceful co-existence in the country.

However, he said there is a lot to be done and achieved, stressing that true federalism required urgent, meticulous and proactive attention by the forum.

Ambode frowned at what he described as the non-periodic review of the revenue formula as provided by the constitution to reflect evolving realities.

He said the review is crucial to enhance the viability of states and local government and their capacity to fulfil their developmental roles in the polity.

The governor added: “States are disparaged for always carrying begging bowls to Abuja in quest of hand-outs from the Federal Government. This is a function of our present national constitution that burdens the Federal Government with activities and responsibilities that rightly fall within the province of states.

“The productivity and revenue-generating capacities of most states are thus stifled, thus turning them into no better than street beggar states incapable of even meeting routine obligations of paying workers’ salaries and pensions without federal support.”

Ambode recalled that Lagos State had fought and won several legal battles since 1999 that have systematically strengthened her autonomy and enhanced her fiscal viability.

He noted that the state had won the legal control over the management of its environment, the control of urban and physical planning, the regulation of overhead masts, the registration and regulation of hotels and restaurants, and the control of inland waterways.

Ambode said these victories belonged, not only to Lagos, but also to other states, adding that, if Lagos could achieve so much by fighting alone, the Southern Governors’ Forum will accomplish more through collective planning and strategy.
The governor said the forum has been reactivated at the time the National Assembly is harmonising its differences over the 1999 Constitution amendment, which will soon be transmitted to the Houses of Assembly for approval

He said: “It is important for this forum to comprehensively look at the proposed amendments with a view to working with our respective Houses of Assembly to ensure a coordinated response on our part that will strengthen the practice of democracy, federalism, constitutionalism and the rule of law.
Ambode clarified that, while pushing for greater devolution of powers, responsibilities and resources from the centre to the states, the goal of the forum is neither to a weak centre and strong states and vice versa.

The governor paid tribute to former Lagos State Governor Bola Tinubu for his initiave, recalling that he hosted the first meeting of the forum in Akodo Beach Resort, Ibeju-Lekki, whe he was at the helm of affairs.

He said while the initiative was received with mixed feelings at the time, Tinubu was vindicated later because of its achievements as the forum became a vocal voice on maters of critical importance, not only to the Southern Nigeria, but to the country as a whole.

Ambode hailed the forum for advocating for a special allocation to oil-producing states in the Federation Account, adding that its agitation led to the current 13 per cent revenue derivation and allocation from the Federation Account.

He said: “Another major victory won towards strengthening the country’s practice of true federalism was the declaration by the Supreme Court in 2002 that the then prevalent practice of the Federal Government deducting monies from the Federation Account as a first charge for the funding of Joint Venture Contracts, the NNPC priority projects, servicing of Federal Government’s external debt, the judiciary and the Federal Capital Territory (FCT) and other federal obligations were illegal and unconstitutional.

“The Supreme Court in that case abolished the special funds created by the Federal Government to enable it draw funds from the Federation Account to pay for matters that fell within its exclusive responsibility before sharing whatever was left with states and local governments.”

Pen Cinema Bridge: Agege LG Boss, Hon. Egunjobi Charges Traders To Vacate Alternative Routes

As precasting and construction works are set to take full gear on the proposed Pen Cinema Bridge, Agege LG Executive Chairman, Hon. Ganiyu Kola Egunjobi and his team embarked on sensitization of the people on the possible alternative routes that would ease traffic congestion in the course of the construction.

The sensitization is coming after the recent stakeholders' meeting held between Lagos State Government and the people of Agege LG and Orile Agege LCDA on the modalities of the proposed bridge.

Prior to this moment,  the proposed alternative routes which include Oniwaya Road, Desalu Street, Market Street, Kasumu Street, Capitol Road, Awori Street and others have been hubs for traders and artisans most especially auto mechanics.


Hence,  the need for Hon. Egunjobi and his team to visit aforementioned areas to address and admonish the artisans, market men and women to take all their trading activities back inside the various designated markets within the community.

Egunjobi urged the traders to cooperate with government adding that the proposed Pen Cinema Bridge, when completed would bring about economic boom and improved standard of living to the people.

He stressed that vehicle owners on the said streets should reach consensus on the particular side of the roads to park their vehicles for easy flow of traffic.

• However,  the traders,  artisans and residents of the alternative routes promised the Chairman that they would oblige his warnings adding that they are in full support of the new development

56th Independence Day, President Muhammad Buhari's Speech (Full Text)

Today – 1st October is a day of celebration for us Nigerians. On this day, 56 years ago our people achieved the most important of all human desires – freedom and independence. We should all therefore give thanks and pray for our founding fathers without whose efforts and toil we would not reap the bounties of today.

2. I know that uppermost in your minds today is the economic crisis. The recession for many individuals and families is real. For some It means not being able to pay school fees, for others it’s not being able to afford the high cost of food (rice and millet) or the high cost of local or international travel, and for many of our young people the recession means joblessness, sometimes after graduating from university or polytechnic.

3. I know how difficult things are, and how rough business is. All my adult life I have always earned a salary and I know what it is like when your salary simply is not enough. In every part of our nation people are making incredible sacrifices.

4. But let me say to all Nigerians today, I ran for office four times to make the point that we can rule this nation with honesty and transparency, that we can stop the stealing of Nigeria’s resources so that the resources could be used to provide jobs for our young people, security, infrastructure for commerce, education and healthcare.

5. I ran for office because I know that good government is the only way to ensure prosperity and abundance for all. I remain resolutely committed to this objective.

6. I believe that this recession will not last.

7. Temporary problems should not blind or divert us from the corrective course this government has charted for our nation. We have identified the country’s salient problems and we are working hard at lasting solutions.

8. To re-cap what I have been saying since the inception of this administration, our problems are security, corruption and the economy, especially unemployment and the alarming level of poverty.

9. On Security, we have made progress. Boko Haram was defeated by last December – only resorting to cowardly attacks on soft targets, killing innocent men, women and children.

10. Nigerians should thank our gallant men of the Armed Forces and Police for rescuing large areas of the country captured by insurgents. Now, residents in Borno, Yobe and Adamawa States, as well as several neighbouring states go about their daily business in relative safety. People can go to mosques, churches, market places in reasonable safety.

11. Commuters can travel between cities, towns and villages without fear. Credit for this remarkable turn-round should go to our Armed Forces, the Police, various sponsored and private vigilante groups, the local traditional leaders. Security is a top to bottom concern and responsibility.

12. Besides Boko Haram, we are confronting other long-running security issues, namely herdsmen vs farmers, cattle rustling, kidnappings. This Administration is firmly resolved to tackle these challenges and to defeat them.

13. A new insurgency has reared up its head in the shape of blowing up gas and oil pipelines by groups of Niger Delta Militants. This Administration will not allow these mindless groups to hold the country to ransom.

14. What sense is there to damage a gas line as a result of which many towns in the country including their own town or village is put in darkness as a result? What logic is there in blowing up an export pipeline and as a result income to your state and local governments and consequently their ability to provide services to your own people is reduced?

15. No group can unlawfully challenge the authority of the Federal Government and succeed. Our Administration is fully sympathetic to the plight of the good people of Niger Delta and we are in touch with the State Governments and leaderships of the region. It is known that the clean-up of the Ogoniland has started. Infrastructural projects financed by the Federal Government and post amnesty programme financing will continue.

16. We have however, continued to dialogue with all groups and leaders of thought in the region to bring lasting peace.

17. Corruption is a cancer which must be fought with all the weapons at our disposal. It corrodes the very fabric of government and destroys society. Fighting corruption is Key, not only to restoring the moral health of the nation, but also to freeing our enormous resources for urgent socio-economic development.

18. In fighting corruption, however, the government would adhere strictly by the rule of law. Not for the first time I am appealing to the judiciary to join the fight against corruption.

19. The Third Plank in this Administration’s drive to CHANGE Nigeria is re-structuring the economy. Economies behaviour is cyclical. All countries face ups and downs. Our own recession has been brought about by a critical shortage of foreign exchange. Oil price dropped from an average of hundred USD per barrel over the last decade to an average of forty USD per barrel this year and last.

20. Worse still, the damage perpetrated by Niger Delta thugs on pipelines sometimes reduced Nigeria’s production to below One million barrels per day against the normal two point two million barrels per day. Consequently, the naira is at its weakest, but the situation will stabilize.

21. But this is only temporary. Historically about half our dollar export earnings go to importation of petroleum and food products! Nothing was saved for the rainy days during the periods of prosperity. We are now reaping the whirlwinds of corruption, recklessness and impunity.

22. There are no easy solutions, but there are solutions nonetheless and Government is pursuing them in earnest. We are to repair our four refineries so that Nigeria can produce most of our petrol requirements locally, pending the coming on stream of new refineries. That way we will save ten billion USD yearly in importing fuel.

23. At the same time, the Federal Ministry of Agriculture and the Central Bank have been mobilized to encourage local production of rice, maize, sorghum, millet and soya beans. Our target is to achieve domestic self-sufficiency in these staples by 2018.

24. Already farmers in thirteen out of thirty six states are receiving credit support through the Central Bank of Nigeria’s Anchor Borrowers Programme. Kebbi state alone this year is expected to produce one million tonnes of locally grown rice, thanks to a favourable harvest this year. As part of the 13 states, Lagos and Ogun are also starting this programme. Rice alone for example costs Nigeria two billion USD to import.

25. The country should be self-sufficient in basic staples by 2019. Foreign exchange thus saved can go to industrial revival requirements for retooling, essential raw materials and spare parts. It is in recognition of the need to re-invigorate agriculture in our rural communities that we are introducing the LIFE programme.

26. Government recognises that irrigation is key to modern agriculture: that is why the Ministries of Agriculture and Water Resources are embarking on a huge programme of development of lakes, earth dams and water harvesting schemes throughout the country to ensure that we are no longer dependent on rain-fed agriculture for our food requirements.


27. In addition, government is introducing Water Resources Bill encompassing the National Water Resources Policy and National Irrigation and Drainage Policy to improve management of water and irrigation development in the country. We are reviving all the twelve River Basin Authorities, namely;

I. Anambra – Imo
II. Benin – Owena
III. Chad Basin
IV. Cross River
V. Hadejia – Jama’are
VI. Lower Benue
VII. Lower Niger
VIII. Niger Delta
IX. Ogun – Osun
X. Sokoto – Rima
XI. Upper Benue
XII. Upper Niger

28. The intention is eventually to fully commercialise them to better support crop production, aqua –culture and accelerated rural development.

29. This Administration is committed to the revival of Lake Chad and improvement of the hydrology and ecology of the basin. This will tune in with efforts to rehabilitate the thirty million people affected by the Boko Haram insurgency in the Lake Chad basin countries.

30. The second plank in our economic revival strategy is centred on the Ministry of Power, Works and Housing. The Ministry will lead and oversee the provision of critical infrastructure of power, road transport network and housing development.

31. Power generation has steadily risen since our Administration came on board from three thousand three hundred and twenty four megawatts in June 2015, rising to a peak of five thousand and seventy four megawatts in February 2016.

32. For the first time in our history the country was producing five thousand megawatts. However, renewed militancy and destruction of gas pipelines caused acute shortage of gas and constant drop in electricity output available on the grid.

33. There has been during the period June 2015 to September 2016 big improvement in transmission capacity from five thousand five hundred megawatts to the present seven thousand three hundred megawatts.

34. There were only two system collapses between June and December 2015, but due to vandalism by Niger Delta militants the over-all system suffered 16 system collapses between March and July 2016 alone. As I have said earlier, we are engaging with responsible leadership in the region to find lasting solutions to genuine grievances of the area but we will not allow a tiny minority of thugs to cripple the country’s economy.

35. In the meantime, government is going ahead with projects utilizing alternate technologies such as hydro, wind, and solar to contribute to our energy mix. In this respect, the Mambilla Hydro project, after many years of delay is taking off this year. Contract negotiations are nearing completion with Chinese firms for technical and financial commitments.

36. The project is to be jointly financed by Nigeria and the Chinese-Export-Import Bank. In addition, fourteen Solar Power Projects have had their power purchase agreements concluded. Hence the plan to produce one thousand two hundred megawatts of solar electricity for the country would be realized on schedule.

37. And in line with the objective of government to complete all abandoned projects across the country, the Rural Electrification Agency’s projects needing completion are provided for in the 2016 Budget. Bringing electricity to rural areas will help farmers, small scale and cottage industries to integrate with the national economy.

38. Roads Construction and Rehabilitation has taken off. The sum of twelve billion naira was allocated to this sector in the 2015 Budget, not enough even to pay interest on outstanding unpaid claims.

39. Notwithstanding the budgetary constraints, the current budget allocated two hundred and forty billion naira for highway projects against twelve billion naira in 2015. Many contractors who have not been paid for three years have now remobilized to sites. Seven hundred and twenty point five billion naira has so far been released this budget year to capital projects.


40. The Ministry of Power, Works and Housing has received one hundred and ninety seven point five billion naira. Work on the following highways has now resumed.

1. Dualization of Calabar – Itu Road in Cross River/Akwa Ibom States.
2. Dualization of Lokoja – Benin Road, Ehor – Benin city, Edo State.
3. Re-construction of outstanding sections of Benin – Shagamu Express way, Edo/Ogun States.
4. Expansion works on Lagos – Ibadan Dual carriageway, Ogun/Oyo States
5. Rehabilitation of Onitsha – Enugu Expressway, Anambra/Enugu States.
6. Rehabilitation and Reconstruction of Enugu – Port Harcourt Dual carriageway, Abia/Rivers States.
7. Rehabilitation of Hadejia – Nguru Road, Jigawa State.
8. Dualization of Kano – Katsina Road, Kano State.
9. Dualization of Kano – Maiduguri Road, Borno State.
10. Dualization of Azare – Potiskum Road, Azare – Sharuri Road, Bauchi State.

11. Rehabilitation of Ilorin – Jebba – Mokwa – Birnin Gwari Road, Kwara State.
12. Construction of Oju/Lokoja – Oweto Bridge over River Benue, Benue State.

41. Other major highways are in the queue for rehabilitation or new construction.

42. Already contractors have recalled about nine thousand workers laid off and Government expects that several hundreds of thousands of workers will be reengaged in the next few months as our public works programme gains momentum.

43. On railways, we have provided our counterpart funding to China for the building of our standard gauge Lagos -Kano railway. Meanwhile, General Electric is investing two point two billion USD in a concession to revamp, provide rolling stock, and manage the existing lines, including the Port Harcourt-Maiduguri Line. The Lagos-Calabar railway will also be on stream soon.

44. We have initiated the National Housing Programme. In 2014 four hundred million naira was voted for Housing. In 2015 nothing. Our first budget this year is devoting thirty five point six billion naira. Much of the house building will be private – sector led but Government is initiating a pilot housing scheme of two thousand eight hundred and thirty eight units uniformly spread across the 36 states and FCT.

45. We expect these units to be completed within 4 – 6 months. These experimental Nigeria House model Units will be constructed using only made in Nigeria building materials and components. This initiative is expected to reactivate the building materials manufacturing sector, generate massive employment opportunities and develop sector capacity and expertise.

46. The programmes I have outlined will revive the economy, restore the value of the naira and drive hunger from our land.

47. Abroad, Nigeria’s standing has changed beyond belief in the last 18 months. We are no longer a pariah state. Wherever I go, I have been received with un-accustomed hospitality. Investors from all over the world are falling over themselves to come and do business in Nigeria. This government intends to make business environment more friendly because we can not develop ourselves alone.

48. All countries, no matter how advanced, welcome foreign investments to their economy. This is the essence of globalization and no country in the 21st century can be an island. Our reforms are therefore designed to prepare Nigeria for the 21st century.

49. Finally, let me commend Nigerians for your patience, steadfastness and perseverance. You know that I am trying to do the right things for our country.

50. Thank you and may God bless our country.