Jonathan Reduces Price to N 97, Vows to Prosecute Cabal

Nigerians woke up this morning to a recorded televised broadcast by President Jonathan in which he announced a reduction of the pump price of petrol to N 97.

Labour has yet to make an announcement following this, however it is expected that the strike will continue as a sit-at-home exercise instead of the peaceful protests on the streets.

During his address, the President stated that individuals found to have benefitted illegally from subsidy would “be dealt with in full accordance of the law”. Many Nigerians are bound to take this with a pinc of salt, as popular opinion suggests some of the beneficiaries who fed fat on the subsidies are in the President’s cabinet and economic team.

The President also stated that the passage Petroleum Industry Bill will also be accelerated at the National Assembly.

Below is full text of the President’s address:

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

3 Comments

1. 

   Tudouble07

   January 16, 2012 at 8:42 am

   He has spoken as person that wants τ̲̅ȍ move this country ahead so let’s all leave wat we think we doing and join hands wit mr president in moving nigeria forward…
2. 

   Anonymous

   January 16, 2012 at 9:14 am

   Nigerians are turning  Nigeria to a good place .I hope for .

   If the Governmernt and labour agrees on the current price .

   Lets give  the Government a chance to fulfill there promises .

   My only problem is how the money given to the governors will be Monitored.

   I dont want to be hearing every day EFFCC and Governors in court after they mis-use the money..

   We want to be hearing  EFCC stoped a laundery transaction by so and so governor  and he is jailed .

   We dont want after he( the Governor)  steals the money EFCC start chasing an un -ending case  from which lawers full there belly /tommy.

   The next turn of Prostest , will  be mass protest on the  Judiciary .

   The fraud and injustice  in Nigerian Judiciary is over alarming .

   Nigerian should start asking WHY ? in all issues if things fail.
3. 

   Anonymous

   January 16, 2012 at 12:22 pm

   ITS A SHAME THAT NIGERIA LEADERS WILL AGREE TECHNIMONT TO DO ITS TAM (TURN AROUND MAINTENANCE ) IN OUR REFINERIES.

   GIVE ME TECHNIMONT MAIN OFFICE ADDRESS.?
   WHERE IS THE LOCATION OF THIS COMPANY?

   WHICH PROJECT HAVE THEY EXECUTED ?
   ARE THEY THE DIRECT BUILDERS OF PORT HARCOPURT REFINERY?
   WHY CANT NIGERIANS DO SOMETHING RIGHT AT LEAST FOR ONCE?

   THE OIL INDUSTRY MAFIAS ARE AT IT AGAIN.
   SOON YOU WILL HEAR STORIES ABOUT THIS TAM.

   MADAM,FG , YOU MUST STOP THIS .

   BRING IN CHIYODA,JGC ,SPIBAT OR FEGERUOLLE.

   THEY HOLD THE REASON PROBLEMS ENCOUTERED BY THE CONSTRUCTION TEAM AND UNDERSTAND THE PLANT BETTER THAN ANY OTHER PEOPLE .