The federal government’s Economic Growth and Recovery Plan must include proactive reforms in the oil and gas sector to stimulate production and increase revenue accruable to the Federation Account, and thus facilitate efforts to revamp the economy.
The reforms should be clear and implementable devoid of sentiment and lack of political will, among other hindrances which bugged down packaged propagated by the previous administrations.
Imo state Commissioner of Budget and Planning, Obinna Mbata, believes without deliberate and determined policy reforms and commitment, leakages in the oil sector would remain an albatross to government intention to earn more revenue from oil and gas.
Mbata said the recovery plan, scheduled to be launched next Wednesday by President Muhammadu Buhari, should among other relevant policies contain virile reform packages in the oil and gas sector.
The commissioner said rather than politicize ownership of oil wells, investment in the downstream and upstream sectors, the federal government should desist from issuing oil licences for political patronages.
Mbata said the projected 2.2 million barrel per day could only be shot up to 2.5million if the government takes practical steps through positive reforms to boost and stabilize production as well as offer attractive incentives by way of an atmosphere conducive for stable business.
Further, the commissioner urged the government to adopt a more humane approach to issues in the Niger Delta region than use of force, stressing that militarism may not achieve as much success as would dialogue and negotiation with the militants in the creek.
Blueprint recalls that prominent figures had urged the federal government to step up its carrot and stick measures to militants in the region instead of doubling military efforts against them.
