PRESIDENT Goodluck Jonathan is to meet with political leaders, including governors and other elected representatives across the country, this week to discuss socio-economic matters needing urgent attention.Although details of the meeting were still unclear last night, The Guardian gathered from an impeccable source in the Presidency that individual invitations were being extended to political leaders and elected officials for meetings this week.The meeting, which will specifically focus on political parties, also has, in its top agenda, according to the source, the once-knotty issue of the Sovereign Wealth Fund (SWF), security and fuel subsidy removal.The issue of security has, for several months, been a major source of concern in the country with the Presidency making efforts to stem the tide of terrorist attacks in some parts of the country. The presidency has also been tasked on pockets of socio-political issues in some parts of the country, the most recent being the controversy surroundingthe Peoples Democratic Party's (PDP) disqualification of Governor Timpreye Sylva for its Bayelsa primary election and emergence of Hon. Seriake Dickson as its flag bearer for the 2012 gubernatorial elections.Similarly, the Federal Government has also had an uphill task convincing the 36 state governors and the Federal Capital Territory (FCT) to holistically subscribe to the letter and spirit of the Sovereign Wealth Fund.Recently at the Rivers State Investment Forum held in Port Harcourt, the Finance Minister had alluded to the fact that the governors, under the leadership of Rt Hon. Rotimi Amaechi of Rivers State, had embraced the SWF. Following the body language of the Governor, she had to quickly add that the SWF would have to first be kick-started with the seed $1billion only, suggesting that states may have subtly declined perpetual contribution, a position later corroborated by Governor Amaechi in an exclusive chat a few journalists.'It does not have to look as if Governors don't know what they need,' Amaechi said.Okonjo-Iweala had, at the forum, thanked the Governor for providing the platform for negotiation on the issue of the SWF, saying that negotiations would continue on the matter.In the same vein, analysts have been sharply divided over the principle of subsidy removal.Last week at the Lagos Oil Cub's periodic question-and-answer session, Chief Executive Officer of Seplat Petroleum, Mr. Austin Avuru, said the concept of fuel subsidy is no longer tenable as government 'cannot simply pay' for subsidy anymore.According to him, the refineries must work for subsidy removal to be meaningful. He said that fuel distribution infrastructure, including the depots, was built around the refineries, hence without addressing it, the country would be risking scarcity and other difficulties associated with fuel supply.
Click here to read full news..
