The Presidency says the recent declaration of the net profit of the Nigerian National Petroleum Corporation by President Muhammadu Buhari, who doubles as the Minister of Petroleum Resources, is the first to be declared in 44 years.
Special Adviser to the President on Media and Publicity, Femi Adesina, said the President has, therefore, broken the jinx that has beclouded the profit made by the NNPC over the years alongside many other jinxes.
He said: “A giant-sized jinx was broken recently when the Nigerian National Petroleum Corporation (NNPC) announced a first Net Profit in the 44-year history of the organization. Under President Muhammadu Buhari, who doubles as Minister for Petroleum Resources, the oil conglomerate announced a first-ever profit of N287 billion. Such had never happened before.
‘But that was by no means the only major jinx broken in the lifetime of the Buhari administration. They abound. And here are just some of them. The list is by no means exhaustive.”
READ ALSO: https://von.gov.ng/2021/08/26/nnpc-records-n287bn-profit-after-tax-for-2020/
Adesina listed some of the achievements of the President to include:
“Policies and legislation:
*Petroleum Industry Bill signed into law in 2021, after almost two decades in the works. It is aimed at reforming a Petroleum Act dating back to 1969, as well as other supplementary laws and regulations.
*Deep Offshore and Inland Basin (Production Sharing Contracts) Act, 2019, amended for the first time since 1993.
*More than 6 billion dollars of inherited Cash Call Arrears now being cleared by the Buhari Administration, since 2016. More than 3 billion dollars of the arrears (payments due to International Oil Companies) have since been paid.
*The Buhari Administration has overseen the first successful Marginal Fields Bid Round in almost 20 years.
*The Buhari Administration has launched the first National Social Investment Programme in the country’s history. Today it is the largest Social Investment Programme in Africa and one of the largest in the world.
*Restoration of the Federal Budget to a January-to-December cycle, after more than a decade.
*The Nigeria Center for Disease Control (NCDC) was established in 2011, and for its first seven years did not have an enabling Act of the National Assembly — Until 2018 when President Buhari assented to the NCDC Act.
*Nigeria Police Act, 2020: The first overhaul of the Police Act since it was originally enacted in 1943
*Nigeria Correctional Service Act, 2019 – overhauled the existing Prisons Act, almost 50 years after it was first enacted.
*Finance Acts 2019 and 2020 – the first time ever that Federal Budgets are being accompanied by dedicated and specific reform legislation, to support implementation.
*Suppression of Piracy and Other Maritime Offences Bill (SPOMO), 2019: The first of its kind in the entire Gulf of Guinea, dedicated to prosecuting maritime offences.
*Police Trust Fund Act, 2019: First-ever legislation dedicated to addressing the financing of the Police Force
*CAMA, 2020 – the first overhaul of the Company and Allied Matters Act (CAMA) in 30 years.
*Discrimination Against Persons With Disabilities (Prohibition) Act, 2018: Another unprecedented piece of legislation in Nigeria
*Treasury Single Account (TSA) started in 2012, expanded across the entire Government by President Buhari”
Abandoned Projects
He said the President was also able to complete many projects abandoned by the previous administration, all in a bid to make life better for citizens.
Some of these projects include the Itakpe-Warri Rail Line, which was started in 1987 but abandoned for decades, and finally completed in 2020, completion of four standard gauge railway projects between 2016 and 2021: Abuja-Kaduna Rail Line, Abuja Metro Line, Itakpe-Warri Rail Line and Lagos-Ibadan Rail Line.
Adesina said: “President Buhari is the first President to start and complete a rail project in Nigeria’s history (Lagos-Ibadan Rail). The last NLNG Train project (Train 6) was completed in 2008. President Buhari has successfully flagged off Train 7 construction.
“Apapa-Oshodi-Oworonshoki Expressway, undergoing full reconstruction for the first time since it was constructed in the late 1970s. Bodo-Bonny Bridges and Road: Construction finally kicked off in 2017, after several decades of planning, and three false starts. The long-awaited Ogoni Clean-Up kicked off under the Buhari Administration.”
Military Hardware
The Special Adviser noted that the military has also acquired more hardware under the Buhari administration, as it fortifies its strategies for winning the war against insurgency.
He said “The Nigerian Navy has this year (2021) acquired its first new Landing Ship Tank (LST) in more than 40 years. The Nigerian Air Force has enjoyed the largest investment in fleet renewal in decades, under President Buhari, acquiring more than two-dozen new aircraft since 2016.”
“Maritime University, Delta State, licensed by the NUC and operationalized in 2018.”
He also said many abandoned water projects have been completed across the country by the Buhari administration.
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