By Adeleye Kunle
Atiku Abubakar, the Peoples Democratic Party (PDP) presidential candidate for the 2023 election, has stated that he will grow Nigeria’s economy through investor-friendly foreign exchange policy.
According to Track News Atiku, in a statement on Tuesday night, also promised to invest capital in non-oil sectors within the first 100 days if elected president.
“Growing the economy (raising GDP), increasing exports, and stabilizing the Naira are all interconnected.” “Improving the global competitiveness of domestic enterprises requires a coherent and investor-friendly foreign exchange policy that stimulates exports,” the former Vice President said.
“A greater volume of non-oil exports will earn Nigeria more foreign exchange, improve our foreign reserves, and aid in the stabilization of the Naira.” All of these will contribute to GDP growth.
“What am I going to do?” First, we will rebuild investor confidence in our economy so that they will take risks and invest capital in non-oil sectors. This can be accomplished by making our economic policies more consistent and coherent (policy flip-flops sends investors away).
“In addition, by combating insecurity.” Investment is a fearful animal that avoids conflict and insecurity.
“Secondly, within our first 100 days in office, we will announce the establishment of an Economic Stimulus Fund with an initial investment capacity of approximately US$10 billion.”
“This is to encourage private sector infrastructure investments and to prioritize support for agriculture, manufacturing, and MSMEs across all economic sectors, as these provide the best opportunities for inclusive growth.”
“In the agricultural sector, we will make irrigation a top policy priority and assist both small-holder and commercial farmers in cultivating at least 10% of the potential irrigable land (currently only 2% is under cultivation).”
The article first appeared on Track News.
