We'll generate 7,000MW in 18 months - Osinbajo
Tue May 03, 2016 09:39:am National
5.4K By sosa hills
The Vice President, Prof. Yemi Osinbajo, has said that the Federal Government will in the next 18 months generate 7, 000 megawatts of electricity.
At the presentation of a book: "Nigeria: The Challenges of Growth and Development - An InDepth Analysis by Experts," held at the Trenchard Hall, University of Ibadan (UI), Ibadan on Monday, Osinbajo declared that power remains a major challenge the Federal Government had been facing, and which it was determined to tackle.
He said that the most important part of the 2016 Budget would focus on ensuring that the weak aspect of the power value chain was restored.
According to the News Agency of Nigeria (NAN), Osinbajo said that Nigeria is faced with the problem of conveying gas to the power plant while the pipelines which remain the easiest method, frequently face vandalism.
"Early in the life of this administration late last year and early this year, power generation was possibly at its best. Nigeria, for the first time was actually generating 5,000megawatts, which was the first time it will happen in the history of the country. On February 14, the Forcados Export Terminal was blown up, effectively ensuring that 40 percent of our gas that goes for power is no longer used for the purpose.
"This situation led to the immediate loss of 1,500 megawatts of power. It is our priority that the pipeline project is completed so that gas will be adequately supplied to the power plant," he said.
Osinbajo recalled that President Muhammadu Buhari had two weeks ago ordered full mobilisation of the military for the protection of pipelines in the country, adding that the Federal Government would soon begin the implementation of the 2016 Budget, which he described as the most ambitious in the country's history.
The budget, according to him, is not only ambitious in size but also more in its broad range of fiscal policies, adding that, "Our strategic implementation plan proposes 33 action points. The action points cut across six political ties of security, governance, economic diversification, power, road and rail, oil and gas, ease of investments and social investment."
Osinbajo said that for the first time in three years, the nation would have 30 percent of the budget going for capital expenditure, a percentage that was three times higher than the last budget.
The Vice President said that the capital expenditure would take care of several aspects of infrastructure, particularly rail, road and power.
According to him, the rail link between Lagos and Kano, as well as the one between Lagos and Calabar, will be captured in the budget.
He said that government had budgeted that by July, 65,000 youths would be trained in software and hardware, adding that government's aim was to build a reservoir of technologists.
Osinbajo also listed the training of 370,000 Nigerians in various vocations, conditional cash transfer to the poor and loan facilities for market women as part of the programmes to be expected.
He said that the administration would ensure that corruption has consequences, adding that no public officer who steals would go scot free.
Reviewing the book, Prof. Jide Osuntokun, said that the writers carefully highlighted the various challenges facing the country and how they could be corrected for national growth and development.
"Nigeria's problem is structural and systemic, and it could be structurally and systematically addressed," he said.
Osuntokun said that the book articulates various ideas of the writers aimed at building an egalitarian society.
Also, Mr. Oba Otudeko, the chairman of the event, said there was no other better time to discuss the development of the nation than now when they have the company of people who cares.
He described the "House of Lords, Nigeria" as a collection of people whom the interest of Nigeria and the welfare of the citizens were paramount in their minds.
The House of Lords, Nigeria was founded 50 years ago and at present parades 34 members, with Prof. Ayodele Desalu as the "Leader."
The event was attended by prominent Nigerians including investment banker, Mr. Fola Adeola; Prof. Idowu Olayinka, the Vice-Chancellor of UI; Prof. Oladipo Akinkungbe and others.
At the presentation of a book: "Nigeria: The Challenges of Growth and Development - An InDepth Analysis by Experts," held at the Trenchard Hall, University of Ibadan (UI), Ibadan on Monday, Osinbajo declared that power remains a major challenge the Federal Government had been facing, and which it was determined to tackle.
He said that the most important part of the 2016 Budget would focus on ensuring that the weak aspect of the power value chain was restored.
According to the News Agency of Nigeria (NAN), Osinbajo said that Nigeria is faced with the problem of conveying gas to the power plant while the pipelines which remain the easiest method, frequently face vandalism.
"Early in the life of this administration late last year and early this year, power generation was possibly at its best. Nigeria, for the first time was actually generating 5,000megawatts, which was the first time it will happen in the history of the country. On February 14, the Forcados Export Terminal was blown up, effectively ensuring that 40 percent of our gas that goes for power is no longer used for the purpose.
"This situation led to the immediate loss of 1,500 megawatts of power. It is our priority that the pipeline project is completed so that gas will be adequately supplied to the power plant," he said.
Osinbajo recalled that President Muhammadu Buhari had two weeks ago ordered full mobilisation of the military for the protection of pipelines in the country, adding that the Federal Government would soon begin the implementation of the 2016 Budget, which he described as the most ambitious in the country's history.
The budget, according to him, is not only ambitious in size but also more in its broad range of fiscal policies, adding that, "Our strategic implementation plan proposes 33 action points. The action points cut across six political ties of security, governance, economic diversification, power, road and rail, oil and gas, ease of investments and social investment."
Osinbajo said that for the first time in three years, the nation would have 30 percent of the budget going for capital expenditure, a percentage that was three times higher than the last budget.
The Vice President said that the capital expenditure would take care of several aspects of infrastructure, particularly rail, road and power.
According to him, the rail link between Lagos and Kano, as well as the one between Lagos and Calabar, will be captured in the budget.
He said that government had budgeted that by July, 65,000 youths would be trained in software and hardware, adding that government's aim was to build a reservoir of technologists.
Osinbajo also listed the training of 370,000 Nigerians in various vocations, conditional cash transfer to the poor and loan facilities for market women as part of the programmes to be expected.
He said that the administration would ensure that corruption has consequences, adding that no public officer who steals would go scot free.
Reviewing the book, Prof. Jide Osuntokun, said that the writers carefully highlighted the various challenges facing the country and how they could be corrected for national growth and development.
"Nigeria's problem is structural and systemic, and it could be structurally and systematically addressed," he said.
Osuntokun said that the book articulates various ideas of the writers aimed at building an egalitarian society.
Also, Mr. Oba Otudeko, the chairman of the event, said there was no other better time to discuss the development of the nation than now when they have the company of people who cares.
He described the "House of Lords, Nigeria" as a collection of people whom the interest of Nigeria and the welfare of the citizens were paramount in their minds.
The House of Lords, Nigeria was founded 50 years ago and at present parades 34 members, with Prof. Ayodele Desalu as the "Leader."
The event was attended by prominent Nigerians including investment banker, Mr. Fola Adeola; Prof. Idowu Olayinka, the Vice-Chancellor of UI; Prof. Oladipo Akinkungbe and others.
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