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Speaking at the opening ceremony of Women in Business and Management (Wimbiz) conference, Fashola said, “Where the nation’s power supply is going from bad to worse, where more Nigerians are unemployed, where the country cannot refine its crude oil but depend wholly on importation, where the North-East is under siege and the economy has continued to nose-dive, the Transformation Agenda Ambassadors have continued to distort the truth, saying that all is well with the country.”
Fashola added that, “The Jonathan administration in 2011 promised to generate 16,000 megawatts of electricity by 2013, including harnessing coal opportunity, wind and solar energy, but this is yet to become a reality. Also, when the price of oil stood at $100 per barrel for almost a decade, the PDP-led government was not able to transform the country. Now that the price of oil has dropped to $80 per barrel, it is obvious the government at the centre cannot do better.
“The country is vulnerable. All it takes to cripple our economy is for those countries from whom we buy oil to say they won’t sell to us any longer. We have seen a good example where the country was denied access to arms purchase. This is the situation we are in, as regards importation of oil. In 2010 alone, we spent N2.5trn importing fuel. Now, we have less money to import. If we can’t pay for our oil importation, we all know its implication for the country. In not too distant future, the fuel queues will return.”
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