President Godluck
Jonathan has directed reduction in the price of petrol from N141 to N97 per
litre following inability of government – labour talks on Sunday to reach a
consensus on how to resolve the lingering crisis triggered by the controversial
policy.
In a nationwide
address to Nigerians, President Jonathan said the reduction was a unilateral
decision by government since its dialogue with labour on the matter ended in
deadlock.
He however said
government would still pursue full deregulation of the nation’s oil sector to
ensure ultimate removal of product subsidies.
“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.
“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”, he said.
Government, he
warned would no longer tolerate acts of violence and wanthom destruction of
property under the guise of protests against subsidy removal, adding that
culprits will be visited with the full weight of the law.
Here is the full
text of the Presidential Address on the Implementation of the Deregulation
Policy in the Downstream Sector of the Petroleum Industry:.
“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.
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