Points from his speech:
1. Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre. A comparison with our neighbours will illustrate the point;
a. Chad which is an oil-producing country charges N362 per litre
b. Niger, also an oil-producing country sells 1 litre at N346.
c. In Ghana, another oil-producing country, the petroleum pump price is N326 per litre.
2. Egypt charges N211 per litre. Saudi Arabia charges N168 per litre. It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.
3. Nigeria has 45 million young people with an urban population of approximately 7million occupying an area of 910,768 square kilometres.
4. Nigeria has a total population exceeding 200million occupying the same landmass (910,768 square kilometres) but 52% residing in urban areas.
5. An underlying cause of most of the problems we have faced as a nation is our consistent harping on artificially contrived fault-lines that we have harboured and allowed unnecessarily to fester.
6. To make this country what we desire, we must focus our minds, TOGETHER as a people, on ways of resolving the identified critical challenges that underlie our present state. These include:
a. Evolving and sustaining a democratic culture that leaves power in the hands of the people;
b. Supporting the enthronement of the rule of law, demanding accountability of elected representatives and contributing to good governance;
c. Increasing our commitment to peaceful co-existence in a peaceful, secure and united Nigeria;
d. Harnessing and Optimizing our tremendous human and natural resources to attain our goal of being in the top twenty economies of the world and in the process;
e. Lifting 100 million Nigerians out of poverty in 10 years;
f. Strengthening institutions to make them stronger in protecting National Interests; and
g. Imbibing tolerance in diversity.
7. No government in the past did what we are doing with such scarce resources. We have managed to keep things going in spite of the disproportionate spending on security. Those in the previous Governments from 1999 – 2015 who presided over the near destruction of the country have now the impudence to attempt to criticize our efforts.
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