• Tuesday, March 05, 2024
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Peter Obi eyes debt restructuring, possible cancellation

Peter Obi in Akwa Ibom

Peter Obi, the presidential candidate of the Labour Party says Nigeria’s creditors will be properly engaged for debt restructuring and possible cancellation.

He presented this position in a tweet Monday morning as part of his address to the Nigerian Economic Summit Group.

Read also: Nigerians in diaspora return to vote, declaring support for Peter Obi

“We will work with the CBN to reduce the ‘ways and means’ to what is allowable under the law and for a more transparent and liberalized foreign exchange market,” Obi tweeted.

According to him, the cost of governance will be drastically reduced, and further reforms implemented to ensure that we have a fit for the purpose size of the government.

He touted a new budgeting system enshrined on the tenets of public accountability, objective setting, and program implementation which will be utilised and supervised by the office of the President.

“We will strive towards a zero-based national budget to overcome the mindset and reality of past non-performing national budgets routinely hampered by budgetary deficit overhangs,” he said.

“In addition to the above, all security agencies, EFCC and ICPC will be strengthened to support our determination to fight and significantly reduce corruption.”

The presidential candidate of the Labour Party said that he will restore Nigeria’s macroeconomic stability through the removal of oil and other opaque subsidies, Fiscal and monetary policies are properly and transparently aligned in line with our vision for a new Nigeria.