Productive Economy, GDP Growth, Other Economic Plans of Obi, Tinubu, Atiku
- Nigerians are waiting with bated breath as the election in 2023 approaches, and they are anxious to know what the plans of those angling for their votes are
- According to various reports, the three leading contenders for the presidency have promised to rejuvenate the country's economy
- Analysts have asked Nigerians to carefully examine the economic plans of the presidential candidates before heading to elect them next year
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The presidential candidates of the three leading political parties have been making vast mouthwatering economic plans for Nigerians ahead of next year’s election.
The economy is at the forefront of the campaigns of the various candidates, apart from security and corruption, which analysts say Buhari failed to tackle as he exits power in 2023.
Nigerians yearn to know what is the economic plans of the three leading contenders for the plum job as they head to the polls next year.
Nigeria’s economy has been battered lately with economic pundits saying that given the time left for Buhari before he goes, there is nothing much he can do to fix the economy.
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Nigerians were jolted recently when the exchange went haywire, leaving them battling for economic survival as the price of commodities skyrocketed, and the Nigerian government seemed helpless to tackle the situation.
Chukwuma Ibeh, an economist, stated that the electorate should highly consider any candidate with a good economic track record in next year’s election.
“Nigerians are wary of trite economic policies by politicians in this country. Understanding the economic needs of Nigerians is key to winning next year’s election. Nigerians should carefully scrutinise the plans of the various candidates so they do not repeat the mistakes of the past.”
So, what's the plan of the three leading contenders?
From consumption to production, the Peter Obi way
The presidential candidate of the Labour Party, Peter Obi, has continued to hammer on the need to ramp up Nigeria’s production. Obi said Nigeria is primarily a consumer nation and not a productive one, saying if the country can improve her production, insecurity and other ills bedevilling Nigeria will find their way out.
According to Channels Television, said his administration will revive the dying textile industry , which was Nigeria’s top revenue earner and improve the agricultural sector for farmers in the north via the provision of incentives and other farming tools to rev up production.
Other plans by Obi:
- Job creation
- Revival of the textile industry
- Revamping of the agricultural sector
- Budgetary allocation to education
- Infrastructural development
- Shoring up external reserves
- Generation of 30MW of electricity
- National security plan
What are Tinubu’s economic plans?
The presidential candidate of the All Progressives Congress (APC), Bola Tinubu has promised to improve Nigeria’s GDP and move it to 12 per cent, which currently stands at 2.64 per cent.
According to reports, Tinubu has promised to achieve that growth in the first four years of his administration.
- Other promises by Tinubu:
- 15,000MW and 24/7 Power Supply
- Removal of Fuel Subsidy
- New National Infrastructure Plan
- 25% Budget Allocation to Education
- Eradication of University Lecturers’ Strike
- Budget Allocation on Healthcare
- New Agriculture Policy
- Decentralized Police Force
The Atiku Plan
The presidential candidate of the Peoples Democratic Party, Atiku Abubakar has just three economic agendas for Nigerians.
Reports say Atiku plans to focus on power generation, reviving the moribund refineries and eliminating opaqueness in the petroleum sector.
Other plans by Atiku include:
- 25,000MW of power
- The refining capacity of 2 million barrels of crude oil
- 3 million new jobs and 10 million people lifted out of poverty annually
Why Peter Obi went to Egypt and what the country is doing better than Nigeria
Recall that Legt.ng reported that one of the top contenders for 2023 presidency, Peter Obi announced on Tuesday, June 14, 2022 that he was going to Egypt to understudy the country’s power, education, planning and finance sectors.
Many have said the presidential candidate of the Labour Party should have rather been at Ekiti State where the governorship election is due to hold on Saturday, June 18, 2022 and campaign for the party’s candidate.
Others said that Peter Obi’s decision to travel to Egypt is well-thought-out, considering the rebounding of the country’s economy in recent times.