Speaking to Prof. Jeffrey Sachs, Special Adviser to the United Nations’ Secretary General, at State House, Friday, he noted that the country’s 2010 capital budget was funded with borrowed money, the equivalent of which was used to fund the subsidy last year.
“No meaningful infrastructural development is possible in such an environment,” he added.
The President reiterated that his administration was committed to making significant and enduring interventions in the areas of power generation and supply, roads, railways, capacity building and health, adding that these sectors have already been opened to private sector participation.
He expressed appreciation to Prof. Sachs for his concern for the development of Nigeria and Africa.
Earlier, Prof. Sachs commended Jonathan for the conditional grants to local governments for the implementation of the Millennium Development Goals, describing it as “one of the most innovative schemes of using national resources for local government development”.
He also described the President’s decision to withdraw petroleum subsidy as “a bold and correct policy”, adding that funds so released would go a long way to rapid infrastructural development and the health sector.
Meanwhile, the Minister of Foreign Affairs, Republic of Finland, Dr. Erkki Tuomoija, has said his country and most of Europe have confidence in Nigeria’s economy and political system.
Dr. Tuomoija was on a visit on Friday to President Jonathan who he told that “your economy is doing very well, and many countries in Europe envy your growth figures.”
He added that “we have confidence in your democracy, and in your ability to deal with the terrorism and other challenges confronting you”.
The envoy described Nigeria as “a very important partner” and underlined the many similarities and views shared by the two countries on global issues in the United Nations and other multilateral fora.
He assured President Jonathan of Finland’s continued cooperation.
In his response, Jonathan said Nigeria wanted to further strengthen relations with Finland, and invites more companies to invest in Nigeria, to take advantage of the huge market and incentives. Click to signup for FREE news updates, latest information and hottest gists everyday
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nigerians problem is dat they hate change.that is why we are not progressing instead we are retrogressing.if fuel subsidy is not removed,nigeria economy will be in geopardy and we all wil suffer it.the same set of people who does not want change,will still be the same people to blame our innocent president.pls lets support our goverment.EVINCO BENIN CITY
ReplyDeleteif we realy want to function well in order to attain a goal as Nigerians,we must conform to our value and expectation,a situation of knowing the truth covering it with plate and sitting on it should be corrected.because fuel subsidy removal is the answer to this our bad economy.at times i always lament why am a nigerian.because i wonder why some persons are working laboriously to build,while some persons are destroying.pls lets encourage removal of fuel subsidy.EVANS KEHINDE BENIN CITY
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