The Ahmed Joda transition committee has given a set of recommendation to the new president of Nigeria in a 800-page report.
Now, as 60 days of Buhari in the office are on July 29, PremiumTimes studied the volumes of the report and listed the 13 steps the committee advised the leader of the nation to take. It would be noted that the previous checkpoints we on 30th and 45th day after swearing-in, while the future control mark is three months after taking the office.
1. Reducing wastage and increasing revenue
It includes revision of all the governmental appointments (on the federal level) in the last nine months, and six more tasks.
2. Diversifying economy and revenue base
This step includes termination of the Petroleum Support Fund.
3. Palliatives as part of subsidy removal
Buhari is expected to complete eight tasks, including arranging repair of depots, pipelines and refineries, providing subsidised cookers and gas canisters to rural households, opening of primary healthcare centers in each local government area.
4. Power sector
This section contains the biggest number of goals for the new administration: twelve. The president is expected to create a Petroleum Industry Bill Technical Committee, liberalise gas sector, and etc.
5. Oil and gas
The main activities are expected to be between the Ministry of Petroleum Resources and the Ministry of Finance.
6. Agriculture
A guaranteed minimum price for key regional commodities must be implemented. Other means of supporting the farmers is the creation of a viable working capital credit scheme
7. Solid minerals
Two steps for accelerating local production and ensuring massive creation of jobs were offered. In particular, Nigeria is set to become the net exporter of steel.
8. Maritime
The most noticeable out of four suggested actions is the revision of all the contracts and projects undertaken by the Nigerian Maritime Administration & Safety Agency (NIMASA) since 2011.
9. Financial systems
Three items have been suggested. The one that all of the Nigerians would have surely appreciated is reducing the costs of banking for consumers and encouraging increased financial inclusion, as well as reducing lending costs to companies.
10. Capital markets
The National Capital Markets master plan is coming. Secondly, the increased savings may be channelled to the capital markets to enhance listing value proposition.
11. Pensions
The Joda report mentions adequate funding of public sector pension liabilities to secure retirement life for civil service.
12. Insurance Industry
Nigerian Customs Service to enforce the compulsory insurance of imports.
13. Information and communications technology (ICT)
A total of five items are in the section on ICT. The one that foreign or major local investors may like: the sale of 2.6 GHz spectrum via an auction is recommended. This will provide additional frequency for broadband services.
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