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January 4, 2017

2017 budget: 2.2m bpd projection not feasible —Rep Egor

2017 budget: 2.2m bpd projection not feasible —Rep Egor

President Muhammadu Buhari presenting the 2017 Budget before a joint session of the National Assembly on Wednesday, December 14, 2016.

By Emman Ovuakporie & Johnbosco Agbakwuru

ABUJA——A member of the House of Representatives, Oghene Egor, has said oil production of 2.2 million barrels per day projection in the 2017 budget estimate was unrealistic.

Egor, who represents Amuwo Odofin federal constituency of Lagos State on the platform of the Peoples Democratic Party, PDP, argued that there was no sign that the militants and the Federal Government had entered into serious negotiations that would ensure stability of oil production.

Speaking to Vanguard in Abuja, the lawmaker also expressed doubts on the implementation of the budget with regard to the government’s intention to improve on the manufacturing sector, noting that there were no incentives that could attract and encourage manufacturers to invest in the sector.

President Muhammadu Buhari presenting the 2017 Budget before a joint session of the National Assembly on Wednesday, December 14, 2016.

According to him, “the budget projection on oil production based on 2.2m bpd will not be realistic because the President has not been able to settle the problem where the oil is coming from.

“We pray that the militants will down arms especially now that the President has voted N65 billion to the amnesty programme, which was one of the demands of the militants. So, we hope that there will be peace. But one would have expected the government to have either direct or indirect discussions with the militants so that they will have an understanding.

“The budget is premised on 2.2 million barrels of oil per day. How is he going to do it? The President has not agreed to talk directly to the militants in the Niger Delta, even if he does not want to speak directly with them, people, such as Edwin Clark and co have been offering to mediate, he has not given his authority.

“Diete Spiff has the mandate of some of them to discuss on their behalf, nothing has been discussed. So when government is not ready, it is a problem. That is why we praise late President Umaru Yar’Adua, he was a great man. When he saw what the militants were doing, he called them for negotiations in Abuja and that was how the amnesty came about.”