LATEST NEWS:JONATHAN REDUCES FUEL PRICE TO N97+SEE FULL TEXT OF HIS BROADCAST

LATEST NEWS:JONATHAN REDUCES FUEL PRICE TO N97+SEE FULL TEXT OF HIS BROADCAST
Dear Compatriots,

1.    This is the second time in two weeks I will address you on the
deregulation of the downstream petroleum sector. In the last seven days,
the nation has witnessed a disruption of economic activities. 
Although, the economic imperatives for the policy have been well
articulated by government, the Nigerian Labour Congress (NLC) and the
Trade Union Congress (TUC) went ahead to declare a nationwide strike.

2.    There was also near-breakdown of law and order in certain parts
of the country as a result of the activities of some persons or groups
of persons who took advantage of the situation to further their narrow
interests by engaging in acts of intimidation, harassment and outright
subversion of the Nigerian state. I express my sympathy to those who
were adversely affected by the protests.

3.    At the inception of the deregulation policy, Government had set
up the Justice
Alfa Belgore Committee to liaise with Labour and other
stakeholders to address likely grey areas in the policy, but despite all
our efforts, Labour refused the option of dialogue and also disobeyed a
restraining order of the National Industrial Court of Nigeria.
 
4.    However, following the intervention of the Leadership of the
National Assembly, and other well-meaning Nigerians, Labour accepted to
meet with government, but this yielded no tangible result.
5.    It has become clear to government and all well-meaning
Nigerians that other interests beyond the implementation of the
deregulation policy have hijacked the protest. This has prevented an
objective assessment and consideration of all the contending issues for
which dialogue was initiated by government. These same interests seek to
promote discord, anarchy, and insecurity to the detriment of public
peace.
6.    Government appreciates that the implementation of the
deregulation policy would cause initial hardships and commends Nigerians
who have put forth suggestions and credible alternatives in this
regard. Government also salutes Nigerians who by and large, conducted
themselves peacefully while expressing their grievances. Let me assure
you that government will continue to respect the people’s right to
express themselves within the confines of the law and in accordance with
the dictates of our democratic space.
7.    Government will continue to pursue full deregulation of the
downstream petroleum sector. However, given the hardships being suffered
by Nigerians, and after due consideration and consultations with state
governors and the leadership of the National Assembly, government has
approved the reduction of the pump price of petrol to N97 per litre. The
Petroleum Products Pricing Regulatory Agency (PPPRA) has been directed
to ensure compliance with this new pump price.
8.    Government is working hard to reduce recurrent expenditure in
line with current realities and to cut down on the cost of governance.
In the meantime, government has commenced the implementation of the
Subsidy Reinvestment and Empowerment projects: including the Federal
Government- assisted mass transit programme which is already in place,
and job creation for the youth.
9.     Furthermore, the legal and regulatory regime for the petroleum
industry will be reviewed to address accountability issues and current
lapses in the Industry. In this regard, the Petroleum Industry Bill will
be given accelerated attention. The report of the forensic audit
carried out on the NNPC is being studied with a view to implementing the
recommendations and sanctioning proven acts of corruption in the
industry.
10.   Let me assure Nigerians that this administration is irrevocably
committed to tackling corruption in the petroleum industry as well as
other sectors of the economy. Consequently, all those found to have
contributed one way or the other to the economic adversity of the
country will be dealt with in accordance with the law.
11.    My dear compatriots, I urge you to show understanding for the
imperatives of the adjustment in the pump price of petrol and give
government your full support to ensure its successful implementation. I
further appeal to Nigerians to go back to work and go about their normal
duties as government has made adequate arrangements for the protection
of life and property throughout the federation.
12.  Government will not condone brazen acts of criminality and
subversion. As President, I have sworn to uphold the unity, peace and
order of the Nigerian State and by the grace of God, I intend to fully
and effectively discharge that responsibility.  Let me add that we are
desirous of further engagements with Labour. I urge our Labour leaders
to call off their strike, and go back to work.
13.    Nigeria belongs to all of us and we must collectively safeguard its unity.
14.                       Thank you. God bless the Federal Republic of Nigeria.
GOODLUCK EBELE JONATHAN, GCFR
President,
Federal Republic of Nigeria

One Response to "LATEST NEWS:JONATHAN REDUCES FUEL PRICE TO N97+SEE FULL TEXT OF HIS BROADCAST"

  1. chibuzor   January 22, 2012 at 4:41 pm

    I think we Nigerians,should give our president a chance. in my humble opinion he is the right man even at the wrong time in worst party i still believe in him. for sure he will deliver.

    Reply

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