Presidential candidate of the main opposition People’s Democratic Party (PDP) in the February 16 election, Atiku Abubakar, has said he would create a $25 billion fund to support private sector investments in infrastructure if elected president.
Atiku, a former vice president of Nigeria under the Olusegun Obasanjo administration, said in a lecture at the Island Club in Lagos, Wednesday, that he would restore investor confidence and reduce infrastructure deficit that will unleash growth and wealth creation.
“We will create an Economic Stimulus Fund with an initial investment capacity of approximately $25 billion to support private sector investments in infrastructure. Power sector reform will be a critical policy priority,” Atiku said.
Nigeria’s main opposition leader pledged to use some of the money for power sector reforms and also increase infrastructure stock to 50 percent of Gross Domestic Product by 2025 and 70 percent by 2030.
He noted that Nigeria has a modern, dynamic and competitive economy that has the potential to double its GDP by 2025 and is capable of taking its rightful place among the top 20 economies of the world.
The PDP candidate said he would liberalise the economic space and privatise all the ailing public enterprises, including the Nigerian National Petroleum Corporation (NNPC).
“The #AtikuPlan will undertake a deregulation of the downstream sector of the economy, review the PIB and privatise all four state refineries that operate less than 10 percent of their installed capacities. We shall channel the proceeds from the privatisation into a special fund for the development of education and health,” he said.
Speaking further, Atiku pledged to tackle the rising unemployment in the country by growing the economy and promoting innovative job creation programmes, stressing that his administration would seek to train 1,000 apprentices every year through the national innovation fund that will provide funds to aspiring entrepreneurs.
He added that his administration would restructure the country to aid the management of the nation’s resources, while raising additional revenue by blocking leakages from exchange rate adjustment.
Atiku further promised to institute strong service delivery mechanism to coordinate government programmes, while the public sector would be reengineered to become performance-driven. He promised to initiate political reforms, restructure the country into federating unit, which would make government more responsive and accountable to Nigerians
“We shall, through constitutional means, achieve a new political structure that guarantees freedoms and ensure government accountability at all levels. Our political reform shall reinforce the country’s concept of true federalism by conceding unfettered autonomy to the subordinating units, states and local governments,” he said.
Speaking on the recent suspension of the former Chief Justice of the Federation, Walter Onnoghen, Atiku described the Federal Government’s action as wrongheaded.
He said the constitution already spelt out the rules for the suspension and removal of the CJN, pointing out that due process was not followed in Onnoghen’s suspension.
Important dignitaries at the lecture include former President Olusegun Obasanjo, Senate President Bukola Saraki, PDP National Chairman Uche Secondus, Senator Ben Murray-Bruce, Bode George, a PDP chieftain, Jimi Agbaje, PDP governorship candidate in Lagos, and Gbenga Daniel, former governor of Ogun State.
DIPO OLADEHINDE & INIOBONG IWOK
