The Federal Ministry of Budget and National Planning says 34
measurable and veritable priority actions have been identified to
achieve the implementation of the 2016 budget under six thematic areas.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma,
said this at the breakdown on the 2016 Budget and the Budget Strategic
Implementation Plan (SIP) on Thursday in Abuja.
Udo-Udoma said the budget would be implemented under six major strategic invention areas in the SIP to revive the economy.
According to him, SIP for the 2016 budget of change is an
implementation plan for a road map of key macroeconomic and sectoral
policies.
“It is a strategic target for the 2016 fiscal year.
“The plan will place the economy on the upward trajectory as it is
repositioned for change, inclusive growth and sustainable development.’’
The minister, however, listed the six areas as policy environment,
national security and governance; economic diversification; priority
critical infrastructure; oil and gas reforms; ease of doing business and
social investment.
He said that the government would achieve appropriate Foreign
Exchange Regime and increase low interest lending to the real sector.
Udo-Udoma said the Federal Government had set deadlines to achieve
self-sufficiency and net export of a certain number of agricultural
produce and items to diversify the economy.
“Rice -2018, tomato paste-2016, wheat-2019 and increase local
production of Maize, Soya, poultry and livestock, so as to achieve
self-sufficiency but the deadlines will be announced in due course.”
The minister said that the government would optimise 7,000 megawatts
installed power generation capacity and provide facilities required to
transmit and distribute it in one year.
He said government would distribute the capacity through
privatisation and concessioning under its priority strategies in power,
rail and roads sectors.
“It will ensure that tariff includes all costs of transmission,
generation and gas at new price and that DISCO cost required operating,
maintaining and upgrading distribution network.
“The government will complete the Kaduna-Abuja and the Ajaokuta-Warri
rail lines scheduled for 2016; revise the National Rail Master Plan and
finalise negotiations for Lagos-Kano and Lagos-Calabar rail projects.’’
“It will ensure delivery of 2,193 kilometres of federal roads across
31 projects scheduled for 2016 (through public works and other
interventions) and explore Private Public Partnership options for
completing other projects.
“It will also ensure the completion of the rehabilitation of four
airports (Abuja, Kano, Lagos and Port Harcourt) and explore option for
concessioning of the airports.
The government will undertake the construction of 3,552 Mixed Housing
Units as pilot scheme in the 36 states and FCT under the National
Housing Programme in a secured and planned environment.’’
Udo-Udoma said the government would adopt and execute a comprehensive
National Oil and Gas Master Plan as the roadmap for petroleum
industry’s development, privitisation and governance.
According to him, government has revolved to work with the National
Assembly to pass a revised Petroleum Industry Bill to privatise NNPC and
ensure the regulation of the downstream sector.
He said that it had set three-year deadline to be self-sufficient in
refined petroleum products and become a net exporter of the products.
On ease of doing business, he said it would work toward moving
Nigeria 20 places up in the Ease of Doing Business Ranking and
fast-track visa application and issuance processes.
The minister, however, assured Nigerians that the government would ensure effective implementation of the budget.
“The capital spending envisaged in this budget, large though it is,
represents only a part of the spending required to meet our ambitious
plans for Nigeria.
“To develop this economy, we will need the active involvement of the
private sector and we will invite them to take the advantage of the
opportunities that government is creating to increase their
investment,’’ he said.
