Speech: Prof. Yemi Osinbajo’s Address At The World Economic Forum in Davos, Switzerland on January 24, 2018

I’m extremely pleased that you have the time to come to spend some time with us here.

The truth is that what we are trying to achieve is just exactly what was described by the Honourable Minister who had just spoken; one that addresses specific issues and then we can deal with them with the partners and government through the right people; and that access will be made available. That’s why we have the industrial council. We also have the business forum and would ensure that we are opened at all times.

I think it is important that we emphasise and keep emphasising that the partnership that we are trying to build is a genuine partnership, because we understand that in a big country, especially a federation, many times we have issues, even with the state governments, and we have to be able to resolve them. Some of them are easy to resolve through a phone call, but we insist that those we do business with in Nigeria must find it easy to do business and that really has been the way that we have tried to function, especially in the last two and half years. We intend to maintain that approach and we really would like you to join us in proving that this will work.

Some of the issues that were mentioned (there was a Q & A before the VP spoke) include security, for example. As you can imagine, security is obviously an ongoing issue, but l want to say that, perhaps, for people in the diaspora and if you are following the social media, it might be difficult to appreciate; maybe you have been away too long, maybe you also come back and see for yourselves.

In the country, people are doing business and are doing fine, but that’s not to say there are no herdsmen and farmer clashes and all that, or to say that all is settled down in the North East; but in major places where business is being done, where investments are been done.

But by and large, we should raise (the issue of) adequate security. l think a lot of people are reasonably satisfied with the security, but we are doing all we can to improve on security. A lot of police reforms are going on, we are ramping up even the number of police officers we are recruiting. We are also getting joint task forces, sometimes involving the military in some of these joint task forces, where we think that there might be trouble.

A few months ago, we held a security summit with all of the governors and the service chiefs, where security agencies looked at all of the specific places where there are problems, and tried to identify what the problems could be, especially in areas that people have investments.

In the Niger Delta, I’m sure that you will agree with me that between last year and now, a lot has changed; we still find opportunistic vandalism where people are vandalising properties, but by and large improvements are being made and we are working very hard on ensuring that we sustain that.

It’s possibly more important for us as sole business of government to ensure that people can walk around free and can do their business without looking over their shoulders. Because of our commitment to that, we are reasonably certain that we will achieve maximum security.

I think it was Tony (one of the participants at the Q & A) that said that in many parts of the world there are places that you may not want to go and there are always situations where there are breaches of security. But l think, by and large, we are really focused on ensuring security and most of the country is entirely peaceful and ready for business.

In respect to power, a lot has happened and I just wanted to address that. In power, I’m not going to talk about the issues that have been addressed already, but l think that the critical thing is that we have identified primarily what the issues are and now some of our reforms are going on. We are enabling a situation where industry or private sector and businesses can actually access power on their own without necessarily going through the DISCOs; we have a willing buyer-willing seller arrangement. Recently NERC issued a declaration to that effect.

So we are concentrating also on powering industrial areas, a lot of that is going on and is private sector-driven.

A lot of that has to do with the cost of power etc., and whether or not the cost is adequate, whether the cost is too high or too low and all that.

But what l will want you to do is to take advantage of some of the new regulations, especially in the willing buyer-willing seller that we are putting in place, so that industries can buy their own power and can even develop their own power structure, and even in the states. A lot of the state governments are now investing in power plants. Off-grid power is one of the very critical solutions for us because a lot of the power that is going onto the grid, we are able to take that much. But if that is the solution in Nigeria, we must have plenty of off-grid power opportunities and we are trying to work hard on all of those off-grid power facilities and create an environment where people can invest in power and supply power to those who need it without going through the system that we have at the moment.

So we think that, in the next couple of years, we will have a power situation that will certainly be a lot better than what we are experiencing today.

What we are trying to do is to ensure that we are not constrained by some of the problems that we have been experiencing in the past years, and we let go of the power marketing in such a way that many players can come in to do a lot more from generation to distribution, and especially transmission because we find that that is one of the critical areas for us today.

Transmission and distribution are critical areas for us and we are working very hard to ensure that we are able to do a lot with some of transmission and the distribution assets that we have. l know that a lot of those who are here are converts or at least people who do business and want to continue to do business in Nigeria, l want to thank you for the support you have given us over the years and hope that you will not only maintain that support, but also work with us in being able to create a better business environment and being able to do the kind of businesses that can be done in Nigeria.

There is no question at all as to why our country is a good destination; we know that the critical issue is to ensure that the environment is friendly enough and that we offer the necessary incentives where such incentives are crucial. We are ready to do that and we are ready to work with you to ensure that business is comfortable for you and that you can make profit and create the jobs and opportunities that we are also looking at.

Thank you very much.

Laolu Akande
Senior Special Assistant to the President (Media & Publicity)
Office of the Vice President
January 25, 2018

Press Release: There is now a New Orientation To Grow Business In Nigeria – VP Osinbajo

“I think a new orientation has been birthed which is that as bureaucrats, we are meant to facilitate trade and commerce and business in our environment”, says Vice President Yemi Osinbajo, SAN.

Speaking today at the State House to heads of Federal Government regulatory agencies at a meeting convened to review the implementation of the Micro Small and Medium Enterprises Clinic (MSME Clinic) in the out-going year, the Vice President congratulated the implementing agencies saying “ I think that a tremendous improvement we’ve seen in the quality of service to the people is worthy of commendation and I want to congratulate you all.”

The Vice President told the implementing agencies not to rest on their laurels noting “next year will also be a more intense period where we will be required to double our efforts.”

Vice President Yemi Osinbajo later presented certificate of recognition to agencies who contributed to the success of the MSME Clinics namely; Federal Inland Revenue Service (FIRS), Bank of Industry (BOI), Corporate Affairs Commission (CAC), Small and Medium Enterprises Development Agency (SMEDAN), National Export and Import Bank (NEXIM), National Food and Drugs Administration & Control (NAFDAC), Standard Organisation of Nigeria (SON) and Nigerian Export Promotion Council (NEPC) as well as the project coordinator, Brown Valley Partners Ltd.

Earlier at the review session chaired by Minister of State for Industry, Trade and Investment, Aisha Abubakar, the heads of agencies namely Federal Inland Revenue Service (FIRS), Bank of Industry (BOI), Corporate Affairs Commission (CAC), Small and Medium Enterprises Development Agency (SMEDAN), National Export and Import Bank (NEXIM), National Food and Drugs Administration & Control (NAFDAC), and Nigerian Export Promotion Council (NEPC), during their various presentations lauded the visionary leadership of the Vice President, commending him for ensuring that the clinics were held in 11 (eleven) cities across the six geo-political in the country.

It would be recalled that the MSME Clinics was launched by Vice President Yemi Osinbajo on Januray 24 in Aba, Abia State. It was conceived in view of the Buhari administration’s consideration of MSME space as critical to the growth and diversification of the nation’s economy from oil given its capacity as a potential contributor to the GDP.

The Clinics are driven by the Presidency and the Federal Ministry of Industry, Trade and Investment in conjunction with 14 MDAs which are critical to the operations of MSMEs in Nigeria.

Laolu Akande
Senior Special Assistant to the President (Media & Publicity)
Office of the Vice President
December 19, 2017

Press Release: All Those Found Guilty in Osborne Towers Scandal Will Be Sanctioned – President Buhari

President Muhammadu Buhari Tuesday in Abuja said all those found culpable in the Osborne Towers scandal will be made to account and appropriately sanctioned.

Receiving a report of the panel established to review the operational, technical and administrative structure of the National Intelligence Agency (NIA), President Buhari described the discovery of monies in the flat at Osborne Towers, Ikoyi, Lagos, in April this year, as an ‘‘unfortunate incident which rightly aroused public interest and outcry.’’

‘‘All the circumstances surrounding the obtaining, keeping custody and disbursement of the funds have been examined by the Vice President’s Committee and all those found to be culpable will be made to account and appropriately sanctioned.

‘‘However, it must be understood that this cannot be done in a manner that jeopardises national security or exposes the operations of any intelligence Agency, which must, by nature be conducted in secrecy.

‘‘Suffice it for me to assure all that justice will be done consistent with our anti-corruption policies,’’ the President said.

President Buhari, while commending the Presidential Review Panel on NIA led by Amb. Babagana Kingibe, former Minister of Foreign Affairs, for completing their assignment expeditiously, expressed the hope that the recommendations of the panel and that of an earlier Committee headed by the Vice President to look into the Osborne matter will assist Government in improving the operations of the NIA and the overall National Security architecture.

‘‘Your Panel’s recommendation, informed as they are by your collective experience and expertise in this field, should in particular help to reposition the NIA to better perform its vital functions with greater professionalism.

‘‘The Osborne Tower incident and its aftermath has also brought to the fore the need to review the entire National Security Architecture, which has now been in operation as established 31 years ago.

‘‘Once again, I thank you very much for undertaking this national assignment, ’’ he said.

Vice President Yemi Osinbajo was present at the presentation of the report by the panel which has Chief Albert Horsfall, Amb. Zakari Ibrahim and Amb. Ezekiel Oladeji, as members.

Femi Adesina
Special Adviser to the President (Media & Publicity)
December 19, 2017

Press Release: Working Together Will Boost Economic, Technological Growth, VP Osinbajo Tells Young Innovators

Nigeria’s youths will achieve more if they collaborate more on projects that will benefit them and also boost the nation’s capacity in innovation and technology, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo said this when he received a delegation of young Nigerian innovators and beneficiaries of grants from the Growth and Employment (GEM) Project, an initiative of the Federal Government under the Federal Ministry of Industry, Trade and Investment, which is supported by the World Bank and the DFID.

In furtherance of the Buhari administration’s economic empowerment initiatives, the project empowers young Nigerian innovators and entrepreneurs with sustainable and innovative business models that will create more jobs for Nigerians and contribute to the nation’s economic growth.

“I am happy that everyone is a co-founder; it speaks to what we say about collaboration and working together, and also with international players,” the Vice President said.

At the meeting, the young entrepreneurs showcased their business models during short presentations to Vice President, who commended them for their efforts and engaged them with questions on the sustainability of their laudable projects.

It will be recalled that the innovators were selected following the Aso Villa Demo Day (AVDD), a technological innovation competition organised by the Presidency earlier in the year.

Also, at the meeting was the Minister of Health, Prof. Isaac Adewole.

In his remarks, the Project Coordinator of the GEM Project, Mr. Ugo Ikemba, thanked the Vice President for all the support the Buhari administration has given to the project since its inception. He said the project will continue to find platforms to support Micro, Small and Medium Enterprises (MSMEs) by enabling them get more access to funding.

In the same vein, the Director-General of Nigerian Automotive Design and Development Council (NADDC), Mr. Jelani Aliyu, thanked the Presidency for providing leadership that supports and empowers young Nigerians to dream and innovate.

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
18 December, 2017

Speech: VP Osinbajo’s Remarks at the PEBEC Impact Award Ceremony in Abuja

I want to thank you very much for attending, and also to congratulate all of our awardees who have clearly distinguished themselves and have helped so much in getting to where we are.

I want to say in particular that what this demonstrates very clearly, is that there is absolutely nothing that we cannot achieve as a people if we set our minds to it.

Just listening to what Titi Shonuga had to say a few minutes ago, tells us very clearly that we are a unique people, and we demonstrated that by this extremely rapid movement 24 spaces up and qualifying as one of the 10 most improved economies in the world, within really a space of about a year or so of active work.

What happened with this group of people working together was that first; we had the Executive and Legislative coming together to make this happen. We had the very great leadership of the Senate President and the Right Honourable Speaker, and of course several of the distinguished Members of the House of Representatives who have already been given awards today.

We decided that it was time that we sorted out the business environment and we did something about that. I think the fact that we were able to meet all deadlines, and the Legislature was able to meet all the deadlines that we set, was really incredible.

Working with the States; Lagos, Kano, and seeing that even at the sub-national level, there is so much that could be done even with collaboration with the Federal Government and they can do it so effectively. I think this whole group of people deserve commendation and would like you to give them another round of applause for the excellent things that they did.

We were greatly assisted by the cooperation of all of the MDAs; Immigration, Customs, Airport authority, NAFDAC, CAC, practically every one of the MDAs worked very closely with us and very hard to make this happen. Of course, the PEBEC secretariat led by our own Doctor J as we call her, Doctor Jumoke Oduwole and the great team she has.

I want to say the next plan of action, and I think Dr. Oduwole has already pointed that out, is bound to be a lot harder and we are already beginning to see that unless we put our minds to it again, and work hard and consistently, we might not be able to achieve the objectives we set for ourselves.

I want to say to everyone, that it is so important that we move up as quickly as possible on the Ease of Doing Business scale, but more importantly, that we make a real impact on our business environment because this is not just about moving up or some World Bank rating, for us it is more important that we create an environment where small and big businesses, are able to do business effectively in this environment and do so with ease.

That is the target we have set for ourselves, that the day must come, when anyone who comes to this country can say I was able to do my business easily and effectively, and local business people can confirm that it is just a breeze to do business in Nigeria.

For us, it is more important that we are able to create an environment where small businesses and bid businesses and everyone is able to do business effectively in this environment and to do so with ease. And I think that that is the target we have set for ourselves; that the time must come, a day must come that anyone who comes into this country will say I was able to do business easily and effectively and local businesses can confirm that it’s just a breeze to do business in Nigeria and I think that we can really achieve that. A lot of it has to do with our bureaucracy and the way that the bureaucracy works. We are working very hard on that on the attitude of bureaucrats and persons who have been charged with responsibilities of making things easy. Sometimes, such people mat really not understand their roles as well as they ought because the whole business of processing or giving investment approvals and all of that should be able to make things easy and not be able to become an obstacle of sorts.

And I think that that attitude is changing and we are going to ensure that it continues to make progress as we go along. So just to say, again I thank very much for all of the efforts that have gone into this and to say that the next few weeks and few months will involve a lot of doing and all of us we are going to write into this. And I already have the assurances of our friends and colleagues in the legislature and at the states as well. We are bringing more sub-nationals at this point, may be more states and I’m sure we’re going to be even more successful than we were in the first action plan.

Thank you very much

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
December 12, 2017

Speech: VP Osinbajo’s Address at 2017 Nigerian National Order of Merit (NNOM) Laureates

I am delighted to join you at this investiture dinner in honour of our two new Nigerian National Order Of Merit Laureates: Professor Adesoji Adediran Adesina, NNOM, who is honoured for his outstanding work in Engineering and Technology; and a living legend, Mr. Bruce Paul Obomoyema Onobrakpeya, NNOM, who is honoured for his exceptional work, spanning decades of Nigerian history in the Arts and Humanities.

But also this evening, we have the privilege and pleasure of the company of some of the laureates of previous years. They include:

1. Prof. E. M Essien, NNOM

2. Prof. (Mrs.) Paulina K. Makinwa-Adebusoye, NNOM

3. Prof. Tanure Ojaide, NNOM

4. Prof. A. O. Anya, NNOM

5. Prof. B. O. Nnaji, NNOM

6. Prof. Hilary Inyang Inyang, NNOM

7. Prof. E. J. Alagoa, NNOM

8. Prof. Ayo Bamgbose, NNOM

9. Prof. J. P. Clark, NNOM

10. Prof. A. O. E. Animalu, NNOM

11. Prof. P. O. Ebigbo, NNOM

12. Prof. Oyewale Tomori, NNOM

13. Prof. A. F. Oluwole, NNOM

14. Prof. B. A. Osofisan, NNOM

15. Prof. Oladipo Adamolekun, NNOM

16. Prof. C. E. Nnolim, NNOM

17. Prof. A. O. Esogbue, NNOM

18. Prof. U. B. Ahmed, NNOM

19. Prof. T. O. Odugbemi, NNOM

20. Prof. Idris Mohammed, NNOM

21. Prof. J. K. Olupona, NNOM

22. Eze (Prof.) V. C. Ike, NNOM

23. Prof. L. A. Banjo, NNOM

24. Prof. S. C. Ohaegbulam, NNOM

We are immensely proud of your outstanding contributions to knowledge and to the development of our nation and our world.

Permit me to reflect briefly this evening on two strands of thought with which I have been occupied for a while, but which the events of today brought to the fore: The importance of merit, and the centrality of the humanities.

This morning in the Federal Executive Council Chambers, we were honoured to witness one of those special moments in our national life. The recognition of exceptional talent, years of consistent industry and the conferment of deserved accolades on merit.

We are reminded on such occasions that the greatness, fame and glory of nations largely rely on the hard work, creativity and service of its best talents. And this is the best case that can be made for the promotion of a culture of merit and for policies that as a rule prefer the best and then make provision for quotas for the disadvantaged by reason of geography, gender or other factors.

The best in our midst in their individual fields, in sports, science, technology, the professions, academia, the arts, and entertainment are given to societies to provide services and insights that only they can. In them lie the keys to the leaps from one level of knowledge to another

Consequently, any society that favours exigencies of any kind over merit has chosen to function at its sub-optimal level and greatness must, by the force of principle, elude it. High attainment, whether it be for individuals or nations, is a function of the priority given to merit, which brings me to the other issue, the growing tension amongst policymakers, some who take the position that our emphasis on Science, Technology, Engineering and Math should mean discouraging the humanities and arts.

Indeed, at a recent meeting of policymakers, a distinguished academic argued that private universities should not be registered to offer courses in the humanities and arts, but to focus on STEM. While it is sometimes easier to see the contributions of scientists to development it may require deeper introspection to recognize the arts as a rampart of the human spirit, and the bridgehead to meaning and understanding that it truly is.

Understanding, said Drew Faust, derives from both what is measurable and what is unmeasurable – it is enhanced by scientific insights and mathematical proofs, by philosophical puzzles, and by literature and art that transform the heart as well as the mind.

Education must encompass all of these as it seeks to fashion, not just employees and employers, but human beings who can help create a better future for themselves and for the world.”

Today, we honour two of our best in the sciences and in the humanities. This happy convergence recognizes that it is not really a choice between one or the other. Science and technology carry us farthest on the wings of the refined thinking, imagination, visioning and disciplined introspection of the humanities.

I have read the communique which has been presented by the distinguished laureates and I must say that I am personally impressed by the scope of the issues covered. Permit me to say that we are on the threshold of turning around our economy and polity irreversibly.

For me, the incredible revelation of the past few years is the realization that if we can deal with corruption and abuse of power we would have resolved the most malignant our problems. There is no way that a nation whose resources are looted by its custodians can succeed.

It is important that we bear in mind that as we tackle the issue of corruption, we must do so by way of process. The truth is that the easiest part is the arrest and apprehension of persons who have committed crime against the state. The more difficult part of it is in reforming those institutions that have been corrupted by years and years of neglect and the promotion of impunity. It is those institutions that we must strengthen and it is those institutions that are important in being able to carry forward all of the reforms that we are putting in place, that is by far a more difficult exercise.

But I want to assure you that President Muhammadu Buhari is completely committed and determined in ensuring that this country’s fortunes are turned around irreversibly. In conversations with him, he has said that it all that he has devoted the rest of his life in doing, and I am completely convinced that God spearing his life, we will see this turn around.

Our special thanks go to the Governing Board of the Nigerian National Merit Award, under the Chairmanship of Prof. Shekarau Yakubu Aku, and members of the Board’s four Specialized Committees of Assessors and External Assessors for the excellent work they have done.

To the eminent laureates please accept again hearty congratulations on behalf of Mr. President and the government and people of Nigeria.

May your path from here on shine even brighter in Jesus name.

Thank you for listening.

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
08 December 2017

Speech: VP Osinbajo’s Address at Akarigbo’s Coronation

Oba Babatunde Adewale Ajayi, the Torungbuwa II (the Second); your Royal Highness.

Today we are witnesses to a rare historic event of monumental importance for the people of Remo and for the Yoruba race; the installation and coronation of the Akarigbo of Remo, the paramount ruler of Remoland.

Through the ages, this throne has proved to be a bastion of freedom, hope and egalitarianism. From the days of its founding, when men fleeing from the jihad of Uthman Dan Fodio, and the collapse of the Oyo Empire, were offered succour and safety on this very land upon which we stand today.

It is from this throne that some of the most significant ideas on the development of Remo emerged. And it is here that the culture and ethos of the Remo person is defined and propagated. Here is the sum and substance of who we are as a people. The throne of the Akarigbo has long represented the attributes of justice, enterprise and integrity. Very few have the love of the Remo man for fairness and justice.

And so we, the people of Remo, are fortunate. Our Akarigbo combines disciplines of law, accountancy and commerce, being an accomplished accountant and a barrister and solicitor of the Supreme Court of Nigeria. We could not have made a better choice.

Kabiyesi, we are all proud of your unblemished career in both professions and your outstanding successes. We are confident that your sterling attributes will benefit the governance of Remo land and its great people.

On behalf of President Muhammadu Buhari, President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, and the people of Nigeria, I congratulate you on your preferment to this illustrious throne and your coronation as the 19th Akarigbo of Remo land.

This extraordinary honour done to your Royal Majesty by the traditions and acceptance of our people undoubtedly comes with a huge burden of responsibility. This is the task of galvanizing the Remo people, for the great task of developing our towns and villages. This is a land of incredibly gifted men and women, from the professions to the arts and politics. Your reign must mark the coming together of all sons and daughters of Remo to take this historic land to its rightful place in the 21st century.

Your pedigree, commitment to our people and avowed trust in the power and grace of God, gives us great hope and confidence that you will exceed all expectations. Permit me your Royal Majesty, to say a word of prayer for you as you ascend the coveted throne of your fathers.

I pray that Remo and its people will prosper in your reign; I pray that the Almighty God will hear and answer all your prayers for this land; that the hand of God will be upon you to guide and direct you daily. Your days will be longer than anyone who has sat upon this throne, and as your days so shall your strength, your wisdom and your favour be with God; in Jesus name.

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
07 December 2017

Speech: VP Osinbajo’s Remarks At The 6th Presidential Quarterly Business Forum For Private Sector Stakeholders

Let me again thank you all for your attendance at this Quarterly Business Forum on agriculture, agribusiness, and the agro allied value chain. I think we are at a special moment in our journey to food security, and to becoming a power of sorts, especially of processed agricultural products in particular.

We are in a special moment because the Federal Government has shown commitment towards agriculture and entire value chain. We have seen enthusiasm of all the players, including the small farmers all across the country.

Getting feedback concerning issues that have been raised, there is cheaper credit, and the President directed that we set up a small committee to look at the issue of intervention funds in agriculture. It is clear, that we are not able to bring down interest rates overnight, the way out is by some kind of intervention agreement.

I chair a committee to look at how to monitor and use intervention funds. We will ensure that the funds go to the right people and also monitor the use of the funds. We are also refining the Anchor Borrowers’ Programme, and other intervention schemes that we have.

Listening to questions concerning lower tariffs, we must pay higher tariffs, these sorts of things are inevitable. What we are trying to do is not increase tariffs for now, but how we can ensure we clean up the entire value chain. I’m sure you are aware of the Payment Assurance Guarantee which we put in place for over N700billion to ensure gas is paid for and for liquidity in the whole value chain.

Today, we will be meeting with the World Bank on a scheme they have been working with us on to fund the entire value chain, and ensure we transit smoothly from where we are, to a much more market-determined policy for electricity. This will involve a fair amount of subsidy and help the Federal Government and World Bank are working together on that. There is no way of sustaining the current subsidies long term, but we want to ensure the process is smooth.

Dealing with the gridlock in Apapa port, the first thing to recognize is that the port is meant to be a 34 million metric tonnes capacity port. Now it is doing 80million metric tonnes, so it is obviously a port far too small for the size of business it is doing.

We have met with all of the important stakeholders, asides from those who do their business there like Flourmills, Dangote and BUA. We have also met with the Navy, Police, NPA, Lagos State Government, all federal agencies working in the ports and port concessionaires.

At our last meeting, we worked on a number of initiatives and agreed on a number of things that have to be done. I went personally to see for myself what was going on in the port area. There is a major problem there, but everyone has agreed on what to do and there is a plan which we are executing. Nothing would happen overnight, but we have a good plan that will make it work.

We have taken a number of decisions; empty containers are to be relocated to holding bays, shipping companies would no longer be allowed to operate holding bays within the port, tank farms would not to be permitted within the Apapa area and process licensing access to trailer parks by NPA to commence. A task force has been set up to manage traffic within the Apapa and Tin Can Island environs.

The PEBEC team has been monitoring what’s going on and we are watching closely to solve the problem. As you can imagine, it is a long running problem and the roads in that neighborhood are extremely bad but we are trying to fix them.

We agreed that Dangote Group will carry out palliative works and reconstruction of some major sections of the Apapa road, which is expected to be completed by June 2018. Procurement processes have also been concluded for construction of Liverpool road to Tin Can, to Mile 2, Oworonshoki up to the toll gate. The Honeywell Group has committed to construct a trailer park, they have started and will complete it very shortly. BUA Group agreed to do the works around the Tin Can Island road. We have it in hand, and we are watching and following up on it.

On excise duty, I have read the PWC study, which goes in one particular direction. And being a professor and having read several studies, I know how studies can generally represent the point of view that you prefer. We will consult the study, and make sure that this does not hamper business and raise costs in any way to discourage production.

On poultry, we go back to the problem around smuggling and what to do when supply does not meet demand. There is a huge demand for poultry and despite local production, people are still buying imported poultry. Just as we did, with tomatoe paste industry, we must work something out with poultry. In developing the policy for the tomatoe industry, we were quite sure of what it would take to bring local production to the point where cost don’t go high because we are banning imports. We have got a fair balance and soon all will see the policy as a good one. With poultry, it is a similar situation, it is something we must work on and the Honourable Minister of Agriculture will work on that, so that we can get some sort of balance.

Smuggling is a serious threat to our economy, and Mr. President has asked me to head a team to work out what needs to be done. We are making the point to our neighbors, that smuggling is an existential threat, we can’t permit the level of smuggling going on.

Last year, there was over 500,000 metric tonnes of rice around Christmas, which the Minister of Agriculture told us about and how it came in through one of our neighbours, but we blocked it.

Now, three shiploads of rice have left Thailand, 120,000 metric tonnes, going to this same neighbour of ours who have very large warehouses where they store this rice. It is very clear that this rice is for us because our neighbours don’t consume parboiled rice, they consume the white broken rice. It is clear that our neighbours do excellent business, with allowing rice to come into Nigeria and other products including poultry

I think it is important for us as a country, to make the point clear, that we are not going to accept that. We are all within the same economic zone and work together, so we go in a friendly and polite manner as possible, to ensure that this practice stops.

For those who are familiar with it, the duty in some of these neighboring countries, especially for rice, is deliberately set lower than ours, it is about a fourth of ours. We have increased duty tax so as to discourage importation but they would naturally drop duty to encourage import and then it would come to Nigeria.

I think we are at a point where we are making a fair amount of progress with the land issues also with the State Governors. It is not a problem we can solve overnight. For titling of land, banks find it difficult to accept lands just as it is, banks won’t accept the lands without titles, one of the issues we are working with State Governments is to ensure titles are done effectively and effectively as quickly as possible. Lagos, Kano and Rivers are working very well with us.

We have an Ease of Doing Business initiative for the sub-nationals, and at the moment, a road show is going on, trying to encourage State Governments to work with us. There is no national policy on land titling.

With respect to land clearing, we have heard from BOI and Minister of Agriculture on how we need to assist States, particularly the Southwest, to ensure that we support land clearing.

I have noted the suggestions that have been on a standing -consultative forum on agriculture and agri-business. This will be extremely useful and we should do. How we should go about it will be left with the Minister of Agriculture and Minister of Industry, Trade and Investment to work those out.

So let me again express my gratitude to your all for you time and for all of what you have done to make the Nigerian economy work well. All of us know how difficult it has been, but I am encouraged by the efforts which individuals, associations and groups are making to improve things, our circumstances and our situation as an economy.

We are all firmly of the view that this country can do a lot more than what it is doing if we get the infrastructure and incentives right. This country can be one of the major agriculture and agric-business centres in the world. I am sure if we work together we can achieve all of that.

Fundamental to our economic policy is private sector leadership, and we have emphasized that time and time again. We have tried to establish several public – private sector platforms including this one, the quarterly business forum. The constant engagement in my view is the way to go. If we continuously engage and interact this way, we will resolve most of the problems that stand in the way of our becoming the great economy that our country surely has the potential to be.

Thank you once again, and I hope that you will be able to spend a few minutes at lunch.

Thank you.

Released by
Laolu Akande
Senior Special Assistant to the President on Media and Publicity
Office of the Vice President
November 27, 2017

Press Release: World Bank Praises FG For Ease of Doing Business Ranking Feat

The Buhari administration has now devised a clear pathway to achieving its power sector reform objectives, according to Vice President Yemi Osinbajo, SAN.

The Vice President stated this today at the State House in Abuja when he met with a delegation of officials from the World Bank (WB) and the International Finance Corporation (IFC) led by Mr. Riccardo Puliti, Senior Director of the Bank’s Global Energy Practice.

Speaking to the delegation at the meeting which had in attendance the Minister of Power, Works and Housing, Mr Babatunde Fashola and the Minister of Finance, Mrs Kemi Adeosun, the Vice President assured “we are completely committed to ensuring that we play our part in the arrangement and we think that this possibly one of the clearest pathways in a long time”

He lauded the partnership between the Federal Government and the World Bank team for the commitment and support shown to the implementation of the Power sector recovery programme.

Prof. Osinbajo noted that the partnership with the World Bank has “helped us a great deal with the timelines and milestones that have to be achieved and also a great deal in refining our own approach to the entire reform process”.

During his remarks, the leader of the delegation and a Senior Director on Global Energy Practice at the World Bank, Mr Riccardo Puliti expressed satisfaction with Federal Government’s cooperation and commitment to the reform of the power sector. He noted that the partnership between the World Bank and the Federal Government is a model which would add great value to the power sector in Nigeria.

Mr Puliti equally praised the Buhari Presidency for the remarkable feat achieved in the ease of business ranking released recently by the World Bank, noting that it is a major milestone for the country’s economic reform programme.

Meanwhile, the Minister of Power, Works and Housing, Mr. Fashola told journalists after the meeting, that the delegation was in the State House to brief the Vice President on the progress made by the Federal Government working with the World Bank on the Power Sector Recovery Programme. He assured that the reform programme is intended to solve various problems confronting the sector and would make the sector effective, as well as make it responsive to consumers and customers who will be ultimate beneficiaries of the on-going reform programme.

Laolu Akande
Senior Special Assistant to President on Media & Publicity
Office of the Vice President
November 27, 2017

Speech: VP Osinbajo’s Remarks at the 4th Session of The Gulf of Guinea Commission Summit

Let me begin, by bringing you the warm felicitations of the President of the Federal Republic of Nigeria, His Excellency, President Muhammadu Buhari and to say on his behalf that the government of Nigeria consider it an honour to have been accorded to host this 4th Assembly of Heads of State and Government of Gulf of Guinea Commission (GGC).

Our sincere gratitude also goes to all of the member States of the Commission for the trust and confidence in Nigeria by our preferment to the privilege of the Chair of the Commission.

Our objectives as a group, have never been as crucial as they are today. Security in the Gulf of Guinea is both a challenge to maritime safety and a significant threat to the economic prosperity of our States.

It is therefore in our national and regional interests to collaborate in this and other regional initiatives, to tackle the problems that we confront in the maritime domain of the Gulf of Guinea.

Permit me for emphasis, to reiterate the objectives of the Commission GGC as contained in its Treaty signed in Libreville, Gabon on the 3rd of July 2001, these include:

1. Strengthening ties of cooperation and solidarity existing among Member States;
2. Promoting close consultation in the exploitation of the natural resources of the gulf, with a view to ensuring the economic development of Member States and the well-being of our peoples;
3. Protecting, preserving and improving the natural environment of the Gulf of Guinea and cooperating in the event of natural disaster and;
4. Strengthening cooperation in the area of communications, especially maritime communications, with a view to facilitating ties and trade among Member States and their peoples.

But since Libreville, we have seen an escalation in the threats to security in the Gulf of Guinea, especially the wave of sea piracy, armed banditry, and the trafficking of arms, drugs and persons. Some of the economic consequences of the security challenges that we face include, a rise in maritime insurance premiums for vessels coming to the Gulf of Guinea, increased freight and reduced commercial traffic to the region.

These challenges are grave indeed, they compromise our economies and the smooth prosecution of international trade. We must also, vigorously challenge the unregulated and unreported fishing and ensure that this violation of domestic and international treaties, is reduced in the Gulf of Guinea. We should be able to collectively take measures to reduce pollution and environmental degradation in our maritime environment.

Meanwhile, I must say that the situation has evolved positively in some areas, due in large part, to our Member States’ individual efforts to improve the capacity and capability of their Navies, and other relevant Agencies to enable them perform their duties more effectively.

In this regard, I commend efforts by each Regional Economic Communities such as ECOWAS and ECCAS in establishing their Maritime Regional Centres for maritime security. This effort is capped by the establishment of the Inter-regional Coordination Centre based in Yaounde, as the collaboration link between the two Maritime Regional Centres led by ECOWAS and ECCAS.

Your Excellencies, in conformity with the theme of the 4th Ordinary Session: “A vibrant Gulf of Guinea Region for Sustainable Development”, let us renew our commitment to making the Gulf of Guinea Commission more effective, and a truly vibrant partner in all our efforts, be they national, regional or international, to ensure a zone of peace, security and sustainable development for our countries, our peoples and other stakeholders in the region.

The issue of payment of our financial dues and obligations is crucial to the effective operation and performance of the GCC. We must commend all of those who have worked so hard, especially the staff of the secretariat of the Gulf of Guinea Commission, despite the difficulties they have experienced in funding. We urge all member States to work hard to fulfil their obligations promptly.

Once again, I thank you all for your active and very useful participation at this very important meeting, as we wish the Gulf of Guinea Commission many more fruitful years ahead. And again we welcome the new member of the Gulf of Guinea Commission, Ghana, and congratulate them on their ascension to membership.

I wish you all safe journeys back home.

Thank you very much.

Released by:
Laolu Akande
Senior Special Assistant, Media and Publicity to the President
Office of the Vice President
November 23, 2017