SAN FRANCISCO, June 23, (THEWILL) – Vice President Yemi Osinbajo, SAN, has opined that the current dependence of the Federal and the State Governments on the ritual sharing of revenues from oil has robbed Nigeria the opportunity to engage in the critical thinking and prioritization that usually drives development.
Osinbajo made this known on Thursday, in Abuja, as he spoke at the launching of the Standard Operating Procedures (SOP) and Port Services Support Portal (PSSP), which are electronic-based monitoring for Nigerian Ports which would now govern the entire port operations in the country, hosted by the Ministry of Transportation.
According to the Vice President, the country requires alternative revenue sources and diversification of its economic structures in terms of the drivers of economic activity and sources of foreign exchange.
He revealed that a key component of this administration’s change agenda lay in the development of a diversified non-oil economy adding that to achieve the target, the ports must play their role in making it easier to trade across borders as well as drive Nigeria’s trade policy and hailed the Ministry of Transportation for initiating the SOPs and PSSPs.
“By adopting the new technology-based monitoring, the ministry has set the nation on the path of enhancing its ports capacity of ensuring free flow of import and export, reducing corruption in port procedures and adopting the global best practice,” Osinbajo said.
“Everyone in the private and public sector must invest their commitment in the successful implementation of the SOPs and PSSPs by following the procedure, not engaging in corrupt practices and putting an extra effort to ensure that the objectives are accomplished.
“We must understand and accept that nation-building is a collective responsibility and that the private sector has an important role to play in supporting every effort of government to achieve the building of a strong nation.
“Many countries have proven that without depending on any natural resources, but simply relying on efficient procedures for undertaking Port activities, any nation can position itself as a major hub and can earn significant resources by just being more efficient.”
He pledged the administration’s resolve to continue encouraging a competitive business environment characterized by sufficient and efficient policies to sustain economic growth to further retain and attract local and foreign investments in Nigeria.
Story by David Oputah
About the Author
