President Goodluck Jonathan has applauded the sustained culture of dedication, fostering the bond of unity, universality, friendship and recreation by the Island Club, Lagos, as it celebrates its 70th anniversary as a social institution.
Delivering the Anniversary lecture on Tuesday at the Club’s premises in Ikoyi, Lagos state tagged, “Nigeria: The Transformational Journey so far”, President Jonathan, represented by Vice President Mohammed Namadi Sambo, extolled the bond of unity exhibited by successive generations of the members of the Island club since it was established in 1943 by 50 distinguished Nigerians, to promote good fellowship and facilitate the genuine interaction of people of different nationalities and professions through recreation.
Jonathan said, in keeping faith with the mandate reposed on government by the electorate and in line with the electoral promises of transforming Nigeria for the good of the people, government can make bold to say that the blueprint of the transformation agenda is being implemented and the steps taken towards the rapid transformation of the national economy are yielding fruits.
He highlighted that the agenda acknowledges the need to achieve all inclusive, non-inflationary growth; improve rural infrastructure; encourage large scale industries and small and medium enterprises; ensure fiscal consolidation; invest in Information and Communication Technologies (ICT) to drive the country’s development, among others. He added that other focus areas of the agenda include good governance; development of infrastructures; and human capital development.
He said, “A 30-year National Infrastructural Master Plan (NIMP) is currently being finalized. It is a coordinated approach for development of infrastructure, the absence of which has been the bane of development in our country. This Master Plan is to be implemented through three 10-year strategic plans, and six 5-year operational plans. It is expected to guide the annual budgetary process commencing from 2014.”
Jonathan explained that NIMP would provide the capital allocation framework, which identifies the required investments for infrastructural development, in line with the country’s growth aspirations and also in synergy with all other aspects of the Transformation Agenda and Vision 20:2020.
Mr. President further elucidated that the mid-term review of the Agenda showed that the country’s economy is on track as “several reform initiatives have achieved targeted results, particularly the nominal GDP growth from $226.13 billion in 2010 to $257 billion in 2012, which translated to an improved global GDP ranking of the country from 44th position in 2010 to 36th position in 2012”.
Still on reforms, he said government had resolved to reform the budget process and its structure, to ensure the Appropriation Bill is forwarded to National Assembly in good time every year; introduced the performance management system, as a measure to benchmarking government officials and hold them more accountable; government remains committed to promoting Public Private Partnership in the Oil and Gas sector through the joint venture operations of NNPC and the oil majors
He noted the favorable investment climate created by the Administration which had necessitated the signing of an agreement between Dangote Group and its local and international financial partners, for the construction of a new refinery and petrochemical and fertilizer plants in the OKNLG Free Trade Zone, Ondo State as well as the commissioning of the $2.2 billion Western Metal Product Company Limited Complex at Ibafo, Ogun State.
He also noted the achievement in the power sector as the 10 new thermal power plants are at various stages of completion and Geregu II power plant in Kogi State and Omotosho II power plant in Ondo State which combined to make 900MW of electricity have been commissioned recently. The President “urged patience from the people still experiencing irregular power supply as these new projects shall, in time, create more comforts.”
Vice President Sambo was conferred with the title of “The Grand Patron of the Peacock”, the highest title of the Club and various other titles on other dignitaries including the Amayanabo of Nembe, King Edmond Daukoru and other royal fathers. He joined others to cut the 70th anniversary cake and laid the foundation stone for the multi-storey car park to be built by the Island Club.
Earlier, the Chairman of the Island Club, Ademola Dada, KCOP, said he has had many great moments since he joined the Club 33 years ago, adding that the laying of a foundation stone for a Multi-Storey Car Park for the Island Club was a dream come true. He also noted that the car park will be beneficial to not only the members of the Club but also to the people of Lagos state and all those who come to the city to do business.
