Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) for the 2023 election, has said he will grow Nigeria’s economy through investor-friendly foreign exchange policy.
POLITICS NIGERIA reports that Atiku, in a statement on Tuesday night, also promised to invest capital in the non-oil sector within the first 100 days in office, if he becomes president.
“To grow the economy (raise GDP), export more, and stabilise the Naira are all interrelated. Stimulating exports requires a coherent and investor-friendly foreign exchange policy that improves the global competitiveness of domestic enterprises,” the former Vice President said.
“Larger volume of non-oil exports will earn more foreign exchange for Nigeria, improve our foreign reserves, and help in stabilizing the Naira. All of these will contribute to growth in GDP.
“What will I do? First, we will restore investor confidence in our economy so that they take risk and invest capital especially in the non-oil sector. This we can achieve by being more consistent and coherent in our economic policies (policy flip-flops sends investors away).
“Also, by fighting insecurity. Investment is a coward animal and fears conflicts and insecurity.
“Secondly, within the first 100 days in office, we shall unveil an Economic Stimulus Fund with an initial investment capacity of approximately US$10 billion.
“This is to support private sector investments in infrastructure and to prioritize support to agriculture, manufacturing and the MSMEs across all the economic sectors, as they offer the greatest opportunities for achieving inclusive growth.
“In the agricultural sector, we shall elevate irrigation to a top policy priority and support both small holder and commercial farmers to cultivate at least 10% of the potential irrigable land-(currently only 2% is under cultivation).”