President Muhammadu Buhari says the second primary objective of his administration is to fight corruption.
Although the President is widely criticised as targeting the opposition party in his anti-corruption war, he said in his Democracy Day speech on Tuesday that “Nigerians and the international community have begun to applaud our policies and determination to fight corruption”.
“The second primary object of this Administration is to fight corruption headlong,” he said.
“Like I have always said, if we don’t kill corruption, corruption will destroy the country. Three years into this Administration, Nigerians and the international community have begun to applaud our policies and determination to fight corruption. We are more than ever before determined to win this war, however hard the road is. I therefore appeal to all well-meaning Nigerians to continue to support us in this fight.”
He said various policy measures already put in place to stem the tide of corrupt practices are yielding remarkable results. Speaking on these “key reform policies”, he said: “The Treasury Single Account (TSA) has realized Billions of Naira being saved from maintenance fee payable to banks. N200 Billion has also been saved from elimination of ghost workers in public service,” he said.
“The Whistle-Blowing Policy has helped to recover over N500 Billion;
“The Presidential Initiative on Continuous Audit set up with a mandate to validate controls, assess risks, prune personnel costs, ensure compliance with Public Financial Management reforms has helped to identify and remove over 52,000 ghost workers from the Federal Government MDAs Payroll;
“The Voluntary Asset and Income Declaration Scheme (VAIDS) aimed at expanding tax education and awareness has offered the opportunity for tax defaulters to regularise their status in order to enjoy the amnesty of forgiveness on overdue interest, penalties and the assurance of non-prosecution or subject to tax investigations.
“The Sovereign Wealth Fund project portfolio has been expanded with an injection of US$650 million so as to strengthen its investment in local infrastructure, power, health, re-construction of Abuja-Kano road, Lagos-Ibadan Expressway, East West Road (Section V) and the Mambilla Hydro-electric Power project as well as the construction of the 2nd Niger Bridge.
“The fight against corruption through the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission has resulted in recoveries of Billions of Naira, as well as forfeiture of various forms of assets. This, alongside other efforts, has improved Nigeria’s international image and regional cooperation.
“We have retained the services of one of the world’s leading assets tracing firms to investigate and trace assets globally. This is in addition to the exploitation of provisions of existing Treaties, Conventions as well as Bilateral Agreements with Multilateral bodies and Nations. Nigeria has also signed Mutual Legal Assistance Agreements to ensure that there is no hiding place for fugitives.”
Buhari said his administration has focused on “revamping the ailing economy it inherited in 2015”.
“In 2016, Government executed an expansionary budget and developed the Strategic Implementation Plan. For the first time, 30% of the budget was earmarked for capital expenditure which represents an upward review when compared with the 2015 budget. The SIP was followed by the development of a comprehensive medium term plan – the Economic Recovery and Growth Plan 2017 – 2020,” he said.
“The broad strategic objectives of the ERGP were to; Restore and sustain economic growth; Build a globally competitive economy; and Invest in our people. The implementation of the ERGP has started yielding results. The National Bureau of Statistics reports that the economy grew by 1.95% in 1st quarter 2018, which is a good performance when viewed against -0.91 in 1st quarter 2017 and -0.67% in 1st quarter 2016 respectively.
“Our foreign reserve has improved significantly to 47.5 billion USD as of May, 2018 as against 29.6 billion USD in 2015. The inflationary rate has consistently declined every month since January, 2017.”
SOURCE :sahara reporters (news)