Discover and read the best of Twitter Threads about #growthforall
Most recents (4)
@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The first thing to do is prioritize passage of the PIB. Because this bill provides the framework for the commercialization of the sector. Saying we'll not privatize or commercialize is not an option. We must make effort to make d sector more accountable, transparent & profitable.
@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The Minister of Petroleum spoke about increasing our production capacity to over 4m bpd. Well that will cost somewhere between $25 – $30 billion. How is that going to happen if not from investment capital? #GrowthForAll
@OpenFundingNG @BudgITng @akorive001 @MatthewTPage Secondly, sell the refineries. We already started on the path to full privatization of the downstream sector since 2003, so let’s finish it. Today, the refineries are operating at 10% capacity and the hope of the govt for local refining is based on the expected output from...
@OpenFundingNG Pre-2006, it is hard to come by reliable data showing about of money paid as fuel subsidy. But we know from publicly available data that the Nigerian Govt paid somewhere in the neighborhood of N10 Trillion for Fuel subsidies between 2006 – 2018. #GrowthForAll 
@OpenFundingNG According to data published by the PPPRA under the Petroleum Support Fund (PSF), the highest subsidy of over N2 Trillion (43% of 2011 Budget) was paid in 2011 while the lowest till date was N24 Billion in 2016. #GrowthForAll
@OpenFundingNG Fuel Subsidy in the Nigerian context is the grant to importers of refined crude products by the govt of the difference between the expected open market price (i.e. landing costs plus distribution margins) and actual pump price) of consumers at the fueling stations. #GrowthForAll
@OpenFundingNG The first thing is to strengthen the current laws and make sure they are implemented. Like I said earlier, we have never been lacking of laws and ideas, we have always been lacking of people committed to applying those laws and procedures. #GrowthForAll
@OpenFundingNG It must be noted, that the current admin have implemented a few things to better manage Public Finance. One example is the implementation of the TSA. This has made it easier to forecast cash flow for better budgeting of govt expenditure. #GrowthForAll
@OpenFundingNG There is also the implementation of the Government Integrated Financial and Management Information System (GIFMIS) which was implemented in line with the ERGP to assist the FGN to implement a computerised public financial management information system. #GrowthForAll
@OpenFundingNG Like I said earlier, we need to drive structural change in the non-oil sectors of our economy to achieve sustainable growth. And we need to do it in two key sectors. Manufacturing and Agriculture. #GrowthForAll
@OpenFundingNG So far the GDP figures shows that the decline in the contribution of Agriculture is offset by increase in contribution of services as against industries. Most developed nations and emerging economies are increasing the contribution of manufacturing to their GDP....
@OpenFundingNG ...because that is one place u can good skilled Jobs. We must do same by investing heavily in capital expenditure like infrastructure (roads, rail and power) and also in the ease of doing business. We must also ensure that rates are at a level that can drive growth. #GrowthForAll
