Although the nation’s economy got considerable relief from the end of the nationwide strike occasioned by the removal of fuel subsidy, the down side of it is the  dislocation that will affect  the 2012 budget implementation.
Ambassador Adebowale Adefuye, Nigeria’s Ambassador to the United States told a high caliber of corporate chieftains in Washington D.C last week that since the 2012 budget was based on a no-subsidy scenario, the partial subsidy in the agreement with organised  labour leaders will definitely cause a dislocation which government officials should brace up for. Addressing a gathering of over 50 business leaders in the United States with interest in Africa, the Nigerian Ambassador said  “without the removal of the subsidy, the implementation of the N4.7 trillion ($30 billion) federal government budget of this year would be greatly hampered and jeopardized because it is not provided for therein.  It will also help for better fiscal management, structural development, leading to re-industrialization and development.” In the investors gathering organized by the Corporate Council on Africa, (CCA), Adefuye stated that all discerning Nigerians want removal of subsidy but that the issue is that of timing of the removal.
Wondering why the President Goodluck Jonathan administration should be punished for the errors and failures of past governments, the Nigerian Ambassador said , “What is even more annoying is that the subsidy regime has been captured by the “fat cats” in the oil cartel of about hundred oil companies owned by some of the richest Nigerians who dwell in obscene opulence, flying in private jets, dwelling in mansions and cruising in yachts.  These are some of the people suspected to be encouraging and sponsoring some elements in the current civil strife.”
Adefuye told the group of corporate chieftains that the Transformation Agenda of President Goodluck Jonathan is hinged on broadening the base of our economy by using the proceeds from oil to invest in non-oil exports, such as agriculture and in the process be able to feed our people and our African brothers.
Speaking on the administration’s emphasis on return to agriculture, the ambassador said  Nigeria has a lot of unexplored arable land and due to the volatility of the oil industry and the need to feed the people, the Jonathan administration is making a conscious effort to return to the land. He informed the potential investors that the Nigerian Embassy is planning an Agricultural forum in collaboration with the Corporate Council on Africa.
The purpose, he pointed out, is “ to attract American investors to invest in our agriculture and also provide an opportunity for Nigerian farmers to meet with their American counterparts and form Cooperative Ventures to invest in our Agriculture.” 
On the activities of Boko Harm, Adefuye told the gathering that the sect is “merely a group of confused and unemployed youths who are being manipulated by those who have undefined motives other than causing troubles and making Nigerian ungovernable for President Goodluck Jonathan.”
Regretting the considerable havoc the shadowy group has created including loss of so many lives. The Nigerian Ambassador stated that the nation’s security services are very well equipped  and are of sufficient competence to deal and contain the dangers posed by Boko Haram.
He said, “I also want to stress that arising from international condemnation of terrorism and its threat to world peace, we are receiving adequate support and assistance from our international friends without compromising our independence and freedom of action.”