Atiku to ‘halt debt accumulation, attract foreign and local investments’ if elected president

Atiku Abubakar, the Presidential candidate for the Peoples Democratic Party has stated that his administration will target tax rebates to attract foreign and local investments.

Atiku disclosed this in a statement issued on Tuesday in Kano during his campaign tour, according to the News Agency of Nigeria.

He added that he is considering a government of national unity which would calm tensions and unite Nigerians. He also added that will halt the rate of debt accumulation and instead focus on private-public partnerships in financing development.

What Atiku is saying

He said his administration will improve security, allowing for investments. He stated, “We will improve the economy, and also target tax rebates to attract foreign and local investments, amongst other proactive measures to attract investments to grow the economy.”

Atiku added that Nigeria needed to bake a bigger cake and not bigger debts, citing the GDP figures released by the NBS last week, stating that despite a 3.4% growth rate, the plain truth was that the economy and the citizens were still facing challenges.

He said, “The reasons are obvious: first, the key sectors of the economy, notably agriculture, oil and gas (the country’s cash cow) and manufacturing (that contributes to jobs), are either growing slowly or declining.

“Second, unabated are rising commodity prices occasioned by high energy and transportation costs (and aggravated by the disorderliness in the foreign exchange market).

“Also, debt levels continue to rise while the fiscal capacity to service its debts is declining.”

He stated that increasing debts will never be a solution to our indebtedness, citing that if elected, he will halt the rate of debt accumulation and instead, focus on private-public partnerships in financing development.