Stake­hold­ers task govt on bud­get im­ple­men­ta­tion

The Guardian (Nigeria) - - ENERGY - By Rose­line Okere

STAKEHOLDERSIN the Nige­ria’s oil sec­tor have em­phased the need for the Fed­eral Gov­ern­ment to en­sure full im­ple­men­ta­tion of the 2018 bud­get.

They stressed the need for the Fed­eral Gov­ern­ment to en­sure the ex­e­cu­tion of cap­i­tal projects in the coun­try by award­ing con­tracts to only cred­i­ble con­trac­tors in the coun­try.

Speak­ing with The­guardian yes­ter­day on the bud­get, Reg­is­trar/chief Ex­ec­u­tive Of­fi­cer of The In­sti­tute of Credit Ad- min­is­tra­tion, Dr. Chris Onalo, said that the Fed­eral Gov­ern­ment has not been ef­fec­tive in the im­ple­men­ta­tion of the var­i­ous na­tional bud­gets. He said that the Fed­eral Gov­ern­ment should be able to give ac­count of how the N8.6 tril­lion 2018 bud­get is spent.

Ac­cord­ing to him, im­ple­men­ta­tion of the 2018 bud­get is some­thing the Fed­eral Gov­ern­ment should work very hard to achieve. “The im­ple­men­ta­tion is a bulk of work and specif­i­cally we ex­pect that cap­i­tal projects are ex­e­cuted with­out de­lay. A sit­u­a­tion whereby con­trac­tors col­lect money for projects with­out proper ex­e­cu­tion should be dis­cour­aged in this 2018 bud­get,” he added.

He urged the Fed­eral Gov­ern­ment to pay spe­cial at­ten­tion to road con­struc­tion and power gen­er­a­tion in or­der to at­tract more in­vest­ment into the econ­omy. “Roads are in a bad shape and the man­u­fac­tur­ing sec­tor in still co­matose. Th­ese are what the Fed­eral Gov­ern­ment should be more con­cern about in the 2018 bud­get,” he said.

Onalo frowned at the ris­ing cost of do­ing busi­ness in Nige­ria, which he said, still re- main a source of con­cern in the coun­try.

He added: “The bud­get should be im­ple­mented with all trans­parency, com­mit­ment and pa­tri­o­tism be­cause Nige­ri­ans have waited for too long and I think the bud­get rep­re­sents the strength of Nige­ria. We need to see that the bud­get is trans­par­ent in its en­tire process.”

Speak­ing also on the is­sue, the Chief Ex­ec­u­tive Of­fi­cer of Mitega In­ter­na­tional Lim­ited, Oil Pipe­line Se­cu­rity Ex­pert, Ibuje Is­rael, said that there are deemed ex­pec­ta­tion on the ac­cu­rate mon­i­tory of the 2018 bud­get.

“The amount bud­geted is not the is­sue, the prob­lem has al­ways been lack of ad­e­quate mon­i­tory. The Fed­eral Gov­ern­ment should en­sure that it gives full ac­count of how the N8.6 tril­lion is spent at the end of the day.”

Is­rael stressed the need for the Fed­eral Gov­ern­ment to deal with cor­rup­tion in the oil and gas sec­tor so as to reap the ben­e­fits of the bench­mark for oil prices. “There is cor­rup­tion within the oil sec­tor. What is stolen is more that what is be­ing de­clared daily in terms of crude oil pro­duc­tion. Gov­ern- ment needs to purge the Nige­rian Na­tional Pe­tro­leum Cor­po­ra­tion of cor­rup­tion.”

The Man­ag­ing Part­ner, Em­manuel Emielu, be­lieved that with the Egina project adding 200,000 bar­rels per day to Nige­ria’s crude oil pro­duc­tion in 2018, the 2.3 mil­lion bar­rels per day pro­jec­tion by the Fed­eral Gov­ern­ment is at­tain­able. Emielu stated: “If the Niger Delta re­main sta­ble, the tar­get may be sus­tain­able. But, we may run into trou­ble should the Or­gan­i­sa­tion of the Pe­tro­leum Ex­port­ing

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