Bola Tinubu, presidential candidate of Nigeria’s ruling party, the All Progressive Congress (APC) has said his administration would remove fuel subsidy, liberalize the petroleum sector and target a double digits economic growth if elected into office next year.
Tinubu states this at a townhall meeting to present his plans to the business community in Lagos on Tuesday.
At the event, the APC presidential candidate and his team also answered different questions on their plans for different sectors of the economy, including insecurity and women inclusion in governance.
Tinubu, who attended the event with his running mate, Kassim Shettima, former Borno State governor, and several members of his campaign team, noted that the current subsidy arrangement in Nigeria favoured certain section of the population against the general interest of the society, stressing that it should be discontinued.
Read also: Tinubu’s action plan targets mandatory health insurance
“For fuel subsidy remove it. I am a beneficiary of fuel subsidy; i have six cars, I go to fuel station, pay the same price as the poor boy that is riding motorcycle, remove it”, Tinubu said.
The former Lagos State governor said if elected his administration would bring the country’s industrial policy to life, and foster productive excellence in new areas such as the creative industry.
He promised to invest in the power sector to provide affordable, reliable power to drive private sector business and aid industrialization across Nigeria, stressing that it would be difficult for the country to create jobs with the current power crisis.
According to Tinubu, “There is no industrialization like we want it without constant supply of Power; it is the most important discovery of humanity in the last 1,000 years.
“ If you have a contrarily answer show me. We have all the energy sources that we can explore, we need long term funding, we have the capacity, the bankers are accountable to the shareholders, but we would find the funding to generate the required power to propel our economy”.
The APC presidential candiate said having ruled Lagos for eight years and transformed the state to a mega city by upgrading infrastructure he had the experience and capacity to transform Nigeria to become a prosperous nation.
“We have what it takes, what are we waiting for?”
“When I first entered office (as governor), Lagos was a different story.
“My team and I developed a blueprint, a masterplan for Lagos. I can say that plan has been largely successful.
“We did more than open Lagos for business, we opened the door for all Nigerians to enjoy the things that democracy brings.
“When I was the governor of the state and we build Awolowo road with my team. When we build the Awolowo road, we said it would last thirty years without repairs, but it has last twenty years now,” Tinubu added.
Answering question on the percentage of women that will be included in his cabinet if elected, Tinubu said he was aware of the enormous intellectual capacity and hardworking ability of Nigeria women.
“We would continue to push like we are pushing it would not be easy, we are conscious we have a lot of brilliant and hardworking women in Nigeria; we are not afraid to take bold decision.
“When you see and have worked with some of the governors of APC controlled states, you would realized that we don’t shy away from bold decision”, he said.
Speaking on plans to unify the exchange rate, Wale Edun, a member of Tinubu’s economy team said if elected the Tinubu’s administration would unify the exchange rate, stressing that it was necessary to create a transparent process for trading in the country and to create investors confidence.
While answering question on plans to tackle the spate of insecurity in the country, Tinubu’s running mate, Shettima, attributed poverty and unemployment for the spate of insecurity in Nigeria, saying that there was holistic plan to tackle it within the first six months in office.
“The problem of insecurity are complex and interwoven. There is no one solution to the problem. Extreme poverty is the root of the problem; ones we deal with that this problem would finish.
“The Tinubu administration have plan to invest in apparatus to secure the country; we would invest in hard ware and soft ware.
“Most importantly we have to concentrate on the economy part of it, rural banditry, within a few time of six months my leader would deal with the issue of insecurity”, Shettima said.
Businesses leaders at the event include Aliko Dangote, president of Dangote Group; Jim Ovia, chairman of Zenith Bank; Tony Elumelu, chairman of UBA; Aigboje Aig-Imoukhuede, former chief executive of Access Bank; Herbert Wigwe, group chief executive of Access Bank, among others.
Tinubu, ruled Lagos State from 1999-2007, and is one of the four leading candidates to succeed incumbent President Muhammadu Buhari in May 2023.
However, in recent months, his choice of Shettima, as running mate, in a same-faith ticket has generated controversy and condemnation from section of Nigerians.
The decision has led to defection of party members in some part of the country.
Observers say the decision could work against his candidacy.
The presidential election is slated for February 28, 2023.
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