Atiku Abubakar, the People’s Democratic Party (PDP) presidential candidate for the 2023 election, has stated that he will expand Nigeria’s economy through an investor-friendly foreign currency policy.
According to Politics Nigeria, Atiku committed to injecting cash into the non-oil industry within the first 100 days of his presidency.
“It is interdependent to develop the economy (increase GDP), increase exports, and stabilize the Naira.” The former vice president stated that stimulating exports requires a consistent and investor-friendly foreign exchange strategy that enhances the global competitiveness of domestic businesses.
“An increase in the number of non-oil exports will generate more foreign currency for Nigeria, bolster our foreign exchange reserves, and assist stabilize the Naira. All of these factors will contribute to GDP growth.
What am I to do? First, we will restore investor confidence in our economy so that they are willing to take risks and spend cash, particularly in non-oil industries. This can be accomplished by more consistent and logical economic policies (policy flip-flops send investors away).
In addition, through combating insecurity. “Investment is a cowardly creature that shies away from confrontation and insecurity.”
“Second, within the first 100 days of our administration, we will introduce an Economic Stimulus Fund with an initial investment capacity of around $10 billion. “
This is to encourage private sector investments in infrastructure and to emphasize support for agriculture, manufacturing, and MSMEs across all economic sectors, as they offer the greatest prospects for equitable growth.”
“In the agricultural sector, we will raise irrigation to a major policy priority and assist both small-holder and commercial farmers in cultivating at least 10 percent of the potential irrigable land.”