By ADEWALE SANYAOLU
The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has advised the Federal Government to channel about 50 percent of excess crude oil sale to the Sovereign Wealth Fund (SWF). The association’s call was made by the President of the NACCIMA, Mr. Herbert Ajayi in Lagos yesterday.
Ajayi also advocated that all excess crude oil sales revenue be lodged in the Excess Crude Account (ECA). He also welcomed the introduction of Medium Term Expenditure Framework-MTEF (2013-2015), Performance Agreement Contracts signed by President Jonathan with ministers as well as the gender empowerment as worthy innovations, which could be replicated by other tiers of governments and all their agencies with modification where necessary.
“These innovations could bring both the public and private sectors together on the same page. On gender empowerment, we counsel that the pilot programme should prioritize education and enlightenment, as well as access to entrepreneurship finance for women,” the association said. NACCIMA lamented that today’s cost of providing physical infrastructures (roads, railways and airports) has become prohibitive for the three tiers of governments to bear, advising that concessioning or privatizing the infrastructures in question was advisable.
This, the association said would replace the “do it alone syndrome” by government, stressing that each tier of government should consider embracing Public-Private Partnership (PPP),which has been successfully done on some heavy projects. The chamber while commending the presentation of budget 2013, urged that all machinery at government’s disposal are utilized to ensure high level performance of the 2013 budget.
The chamber noted that that in spite of government’s apparent zero-tolerance for bribery and corruption and the activities of the anti-corruption agencies, not much appears to have changed as indiscipline, bribery and corruption have continued to thrive. In this regard, NACCIMA argued that government needs to review and devise new strategies to tackle this dilemma, which it feared could affect the performance of the budget and service delivery in 2013.