The Peoples Democratic Party, presidential candidate, Atiku Abubakar, said Nigeria is being dressed in borrowed robes, adding that his plan for the economy if elected, is to pursue a “warm handshake policy for the private sector.
The former vice president spoke on Tuesday at the Private Sector Economic Forum for the 2023 Presidential Election organised by the Lagos Chamber of Commerce and Industry (LCCI).
He said, “APC has consistently run on a budget deficit since 2015, above three percent permissible threshold under FRA… and more if you add CBN and AMCON debt in ways and means.
“Nigeria is being dressed in borrowed robes; Nigeria is broke and has consistently run-on budget deficits since 2015. These budget deficits are often above the 3% threshold permissible under the Fiscal Responsibility Law and more if you add CBN and AMCON debt in ways and means. The country is breaching one of the applicable debt-sustainability thresholds by spending more on debt servicing than the country’s revenue.
“No one should downplay the enormity of the tasks ahead. Indeed, I cannot think of a more daunting challenge than restoring confidence in the future of Nigeria as a dynamic economy and stable democracy.
“I will not come unprepared. It is not in my character as a businessman or as a public officer to be caught off guard. My policy document contains the right policies that will be timely delivered.”
On his plans for the economy, Atiku said, “We will ensure we give a warm handshake to the private sector. They are important for any sector or economy to succeed. I enjoy making people rich. I feel fulfilled when I make opportunities for others.”
