₦airaland Forum

Even me, i lost track of the technicalities Tinubu discussed here, far ahead of empty slogans of production economy of Obi that has no meaning.



PRESS RELEASE

*Tinubu presents economic plans at NESG presidential dialogue*

...says nothing wrong with budget deficits

…subsidy has overstayed its shelf life

Presidential Candidate of the All Progressives Congress Asiwaju Bola Ahmed Tinubu on Friday unfolded his comprehensive economic plan before the organised private sector under the aegis of the Nigerian Economic Summit Group.

The interaction, which was another opportunity for Tinubu to present his plans to another group of stakeholders just as he has been doing in various town hall meetings across the country, saw him itemise his administration’s path to economic recovery if elected in next month’s presidential election.

He noted that before economic recovery could be achieved the nation must be secured, stating that, “First, to achieve the economy we seek, we must resolve the pressing security issues. No nation can flourish with terrorists and kidnappers in their midst.”

The dialogue again gave him an opportunity to emphasise the importance of the private sector and his administration’s readiness to partner them.

He said, “My core belief is that the private sector must be the prime driver of economic progress. However, the government establishes the framework within which the private sector must operate. If that framework is sound, the private sector will flourish. If the framework is frail or incomplete, then the private sector will struggle.”

He added that his administration would immediately after getting to office, urgently address fiscal, monetary, and trade reforms to effectively increase domestic production, thus serving to curb imported inflation, and to ensure better macro-economic stability by accelerating inclusive growth and job creation across Nigeria.

To achieve this, he listed principles that will guide their plans and policies. These principles include how to tackle inflation, petrol subsidy and monetary policy.

“I do not hold to the mainstream view that all forms of inflation are best tackled by interest rate hikes and shrinking the economy. Supply induced inflation does not lend itself to this harsh medicine, just as one does not cure a headache by plucking out one’s eye.

“I do not embrace the conventional wisdom that fiscal deficits by the national government are inherently bad. All governments, especially in this era of fiat currency, run secular budget deficits. This is an inherent part of modern governance. The most powerful and wealthiest governments run deficits, as do the poorest nations.

“A budget deficit is not necessarily bad. Look at the Japanese example with high government borrowing and low inflation. The real issue is whether deficit spending is productive or not. Unproductive deficit spending is a compound negative. Especially if backed by excessive borrowing of foreign currency. This is not classroom economics but it is the lesson of the real economic history of nations.

“It is based on this idea that I believe we must remove the PMS subsidy immediately. It has outlived its shelf life as a public good. We will neither subsidize neighbouring countries’ fuel consumption nor allow a select few to reap windfall profits and hoard products.

“And the subsidy money will not be ‘saved’ because that means elimination from the economy. Instead, we will redirect the funds into public infrastructure, transportation, affordable housing, education and health, and strengthen the social safety net for the poorest of the poor, thus averting increased security challenges.

“Fiscal policy will be the main driver. Monetary policy is weaker and a less effective instrument. Bad monetary policy is, of course, destructive. But even good monetary policy cannot carry the load the fiscal arm can. Thus, we must steadily remove ourselves from the fiction of tying our budgets to dollar denominated oil revenues.

“This is effectively pegging our budget to a dollar standard. It is as outdated as the fuel subsidy itself. It is also restrictive and ties the economy to slow growth. Just as the common man must mentally sever the cord to the subsidy, the elite must sever the cord to this artificial fiscal restraint,” he added.

He said his administration’s budgeting would be based on the projected spending levels needed to push real annual growth rate above 10 per cent, while reducing the unemployment rate, so that the economy can be doubled in seven years.

He added that to cater for the economic needs of the over 200 million Nigerians, his administration will expand the manufacturing base to provide jobs, and also create affordable goods and products for the population.

He added, “For our industries to thrive, they need inputs, many of which are agriculture based. The present Administration has invested heavily in agriculture, providing loans and expanding the country’s total area of cultivated land for crops, livestock and fisheries. We will also promote vibrant commodity exchanges that will guarantee minimal pricing for produce.

“We will build on this, with a focus on using technology and expertise to accelerate growth in yields. We will deliver the critical infrastructure necessary to achieve the commodity transformations and agribusinesses to plug seamlessly into higher, more lucrative, entry points in regional and global value chains.

“Building on this foundation, we will accelerate the faithful implementation of the “Infrastructure Master Plan” by adopting proven financing structures till we deliver an acceptable stock of hard infrastructure through seaports and airports; and road, rail and water transportation linkages that can support our desired economic growth.

“Fixing the perennial problem of energy supply is a top priority. There is no version of the world where Nigeria’s ambitions for itself can be achieved without solving the problem of how to provide energy to homes and businesses across the country.

“What we need to do, going forward, is to improve the enabling environment, further decentralize transmission, and deliver cost reflective tariffs to attract more private investments in the sector.”

The former Lagos State governor said restrictions were placed on import and foreign exchange to promote industrialisation, it has instead smuggling, reduced revenues, impoverished consumers, and raised production costs for firms.

To solve this, he said his administration will improve transparency, moving toward a unified exchange rate. According to him, by relaxing stifling trade and capital control policies, domestic and foreign investors will be encouraged to invest more in the economy.

“Thus, unification of the Naira exchange, and the transparency it creates, will be a top priority of this Administration when elected,” Tinubu added.

On the major issue of unemployment in the country, Tinubu promised to focus on the creative sector, which has an opportunity to provide millions of jobs annually.

He said, “Taking the creative sector as one example of a sector that already engages millions of our youth, the sector has significant untapped potential for generating quality jobs and foreign exchange earnings for our country.

“From music to movies to fashion, when elected, our Administration will create a legal environment that can attract much-needed private investment into the sector, eliminate widespread piracy and copyrights issues, as well as support the development of quality hard infrastructure needs.”

Tinubu also added “We will work to ensure all borrowing is geared toward productive economic activity, focusing on internal debt discipline.

“Closing fiscal gaps, promoting domestic revenue mobilization, implementing tax reforms, curbing corruption and optimising budget implementation are crucial for economic viability. Streamlining bureaucracy and reducing cost of governance will be imperative.

“Policy options to boost non-oil revenues are key to our revenue mobilization strategy. The use of technology to drive reforms implementation is crucial.

“Despite the adoption of the Petroleum Industry Act 2021, government revenue from oil has continued to decline. We shall work in a coordinated manner to implement reforms that will remove the bottlenecks to the PIA implementation and attract increased inflows of investment into the sector, address issues of oil theft and vandalization of oil infrastructure, and promote an increase in oil production to tap into the current high oil prices.”

Fielding questions after his presentation and responding to what he would do within his first 100 days if elected, Tinubu said he would hit the ground running by selecting a team of technocrats that will help him run the country as he did when he was governor, stating that building a good team is important.

The APC candidate was accompanied to the NESG session by Governors Atiku Bagudu (Kebbi), Nasir el-Rufai (Kaduna), Babajide Sanwo-olu (Lagos) and Dave Umahi (Ebonyi) as well as former governors Adams Oshiomhole, Kayode Fayemi (Ekiti) and Babatunde Raji Fashola who is also Minister of Works among others.

Tinubu was the first among the top candidates to appear at the presidential dialogue on the Nigerian economy put together by the NESG.

Welcoming guests to the dialogue, the Chairman of the summit group, Mr. Niyi Yusuf, said the dialogue was to give effect to a common and shared ideas on the economy between the group and critical stakeholders.

He said NESG was set up to promote and champion the reform of the Nigerian economy into an open globally competitive economy.

Tinubu Media Office
Tunde Rahman
January 13, 2023

israelmao:
APC dog is running amok and writhing in excruciating pain.I don't need to run to Lagos I am a thoroughbred son of Yorubaland,you should know and let it register in your access memory that not everyone that attacks Tinubu is an Igbo.

Yes, i know there’s a tiny inconsequential minority of Yoruba bastards supporting the Obi Pandora. They will regain their senses very soon.

israelmao:
Dough-nut economic model on how to own Nigeria as he owns Lagos but Nigeria is not Lagos.

Shut up!!! If Nigeria was like lagos, would you be running to lagos in a night bus?

olril17:
Ko ni daafun baba ee ati iya ee.

They are both dead lol. The curse returns to your parents uhh!!!

2mercy:
https://guardian.ng/news/youve-lost-igbo-support-over-comments-serg-tells-tinubu/

“ He is taking his disregard for the South East too far. When his anointed Governor, Babajide Raji Fashola, deported Igbo from Lagos State and dumped them at the Onitsha Bridge Head in the middle of the night, where was Asiwaju Bola Ahmed Tinubu?”


Obi started deportation of people from other states and this generated a lot of uproar. Then other governors got angry and started deporting people. Fashola was stopped from doing it by politicians including Tinubu. These stupid human being is now using the argument against Tinubu, the person who stopped fashola after being angered by Obi’s tribalistic actions.

olril17:
Only oloriburukus like you who support tinubu or let me say tinubu oloshi supporters hate Obj. So speak for yourself oloshi and not all Yoruba people.
Awon werey dedee

All yoruba hate Obasanjo with a passion. We just have little respect for him because he was brought up among us. He is a bastard and he knows it. That’s why he is always against the true sons and daughters of Yorubaland including Awolowo.

olril17:
Ayee lobajee
Baba of Yoruba politics in your family or household abi?
He is baba of Yoruba politics and as we talk now in SW he is struggling really hard and even if he win the region it will be narrowly. No wonder his supporters in sw are campaigning based on tribalism and ethnicity.
Ko ni da fun gbogbo eyin tinubu urchins giving us Yoruba bad names
Gbogbo yin Lemaa soriburuku.
Thousands of us Yorubas are patiently waiting for election to fck up your mashanfini drug baron candidate.
Awon ashunu werey gbogbo want to foist calamity on the whole country.

Be ready to jump into lagoon by Feb 25th. That’s the day we will get rid of all the bastards akotileta awon omo irankiran that mixed among us. The true yoruba are always for their own. Except bastards like Adebanjo, Obasanjo and people like you. We shall use your skulls latifi boo ogun and shango lakaaye osu imale. Awon omo abiipabe.

darthv:
Gerratahere mehn shit.
I go vote Peter obi.
Be cause I have common sense.
And there is nothing you can do about it

Those voting Tinubu have greater sense than common sense. That’s why we can see the best to vote.

Trollronaldo:
1. Adamawa
2. Gombe
3. Bauchi
4. Kano
5. Kaduna
6. Sokoto
7. Jigawa
8. Abuja
9. Plateau
10. Benue
11. Abuja
12. Nasarawa
13. Taraba
14. Katsina
15. Edo
16. Crosssriver
17. Rivers
18. Bayelsa
19. Delta
20. Akwa ibom
21. Abia
22. Imo
23. Anambra
24. Enugu
25. Ebonyi

States that he may likely win, but not sure.

1. Katsina
2. Kebbi
3. Niger
4. Yobe
5. Zamfara
6. Kogi
7. Lagos

States he will definitely win
1. Kwara
2. Ogun
3. Osun
4. Oyo
5. Ekiti.

Thanks for reading

Chinedu!!’ Stop taking mkpurum mirin, you no go hear.

Konquest:
@Drlateef, then who owns the so-called Labor Party these dudes are bandying around?

I used to think it was founded by the National NLC.

In last election, NLC supported Buhari, not LP.

Typicool8:
Anybody owing Tinubu should please go and pay instead of using over 200 million Nigerians as Thanksgiving..By the way what led the militant to prison?

Those whom Tinubu has helped are so many that they make up majority of people. Thats why Obi will lose so woefully he will end up in ITU. Tinubu is a philanthropist extraordinaire. He is just like Abiola in many ways. He is winning without any doubt.

Driggs:
point of correction: you and your family are indebted..

Awa omo ekiti kete are made up of educated omoluabi.. we will never vote for a drug lord and an agbero.

We know who we want and that's Peter Obi.. lessons will be learnt.

Tiny inconsequential minority. Majority are routing for Tinubu. Don’t waste your ignorant vote. Peter Obi can never be better than Tinubu. Obi was a drug junky and age cheat. He hides everything from you and are misled.

National NLC and TUC already endorsed Tinubu. Why are zombidiots crying like baby who lost his feeding bottle? Don’t they know that Obi is ponzi scheme? Did i not warn them not to waste their money and energy?

karnap:
They are chasing tinubu for money,by the time they milk it,they will go and vote OBi and he will resigned back in boudilon ikoyi his base!!
Obi is not Sharing money.

Obi is not sharing money and all around him are corrupt people stealing, being caught, resigning, being sentenced in court etc.

StrongandMighty:
Urchins and focusing on trivialities..

Its not triviality. Its very symbolic and very glaring who is accepted and who is disdained.

HeadNigga:
Emir of Zaria kenan. Justice for the rape victim please.the rapists must go to prison

Rubbish!!! Prison koh, prison nii!! He should be hanged or bite the bullets.

Johnthejohn:
Nonsense and ingredients

I can feel your pain lol.

What is the message? I can help you deliver it

beejaay:
mumu, if we love osibanjo why did he lose election in his polling boot even as a sitting VP...you expect obj to go out and paying people for vote like your useless tinubu abi..islamic terrorist that all you see is religion

Oshinbajo knows he tried to play traitor game and failed. He has no followers, that’s why he always lost his polling booth. Tinubu is the baba of Yoruba politics.

beejaay:
talk for yourself you islamic terrorist...no yoruba hate obj infact we love him, the only people shouting against him are tinubu urchins and islamic fundametalist like u who view everything from religious perspective and your stomach infrastructure

You are a bloody liar. If we love OBJ why has he always lost election in his polling unit?

Thinkam:
Maybe you don't, but the vast majority do because of awalokan.

May be the best tribalist win

You are lying. Majority want the best leader in place.

rippa:
A govt can't have a statistics but you in a remote village in osun know when someone enter Lagos

Then ask the village and city people of Anambra how many of their relatives and friends have moved to Lagos. I do research and I know that people sit in hotel room and compute figures without going out to do the actual data collection.

TermuxDarkWeb:
But everything here looks real. I don't understand

Nigerians have now moved from yahoo yahoo to crypto fraud. They will set up the best website you can imagine.

Thinkam:
In my part of the country most people APC dolts tell us Tinubu made Lagos paradise, but my conversations with Yorubas none of that came up, was a strictly awalolan, they must have an agenda

That’s not true. We support Tinubu based on his records of achievements. Yorubas don’t accept incompetent leaders. That’s why we hate Obasanjo.

rippa:
You have ur Google
In all developmental indices
Anambra is far ahead of any of ur Yoruba states outside Lagos

Fake figures planted on Google for benefit of Obi.

rippa:
MEN MIGRATORY STATUS TO LAGOS - 2021

15-49yrs Most recent migration to Lagos
1 �Ogun: 25.1%
2 �Kwara: 11.2%
3 �Oyo: 8.2%
4 �Imo: 7.5%
5 �Abia: 7%
6 �Delta: 6.6%
7 �Akwa Ibom: 6.3%
8 �Cross river: 5.8%
9 �Ekiti: 4.2%
10 �Ondo: 4.1%

#StatiSense

Did u see anambra there?

They havd fed you guys with so much lies that you dont even bother to make ur own research, you rather prefer to make a mockery of ur education
Shame

Another set of fake statistics. Where did they get the numbers? Did they stand at Ojota park or Yaba?

rippa:
You have ur Google
In all developmental indices
Anambra is far ahead of any of ur Yoruba states outside Lagos

And why are the citizens heading to Lagos? We know all the fake figures you people bandied about. We know the true figures from statistics. Obi generated the poorest IGR among Anambra governors. Poverty was among the worst, ditto unemployment. No institutional development, healthcare abysmal. Education had some improvement in performance of students but not in infrastructure. Obi had no vision, no foresight. He didn’t develop human capital, no expansion of revenue generation. Doctors strike, Labour strike etc.

Thinkam:
Any party aside the APC that gets 25% in any southwest state, should feel victorious.

Every single corner awalokan, even all the billboards says that...

I thought Yorubas were liberals, I mean they don't even have any positive reason to vote APC, just awalokan, quite ridiculous...

I couldn't help but laugh when I think how afenifere and Obasanjo claim to be supporting Obi, If that guy gets 5000 votes in any south west state, he should be grateful..

Was a real eye opener.

Yorubas believe and Trust Tinubu to deliver. And we see that Igbos have no good candidate but are supporting Obi based on tribal affiliation. Whatever Tinubu represents we foot for it. That’s the truth.

Omahleigh:
They have finally come for this guy

His cup is full my brother. He has no wings and was colluding with religious bigots who were trading religion for political post. He is first to go down. Now its too late for him to contest elsewhere. And he will not get any appointments. Let him go and use his intimacy gadgets full time now. And the poor girl he assaulted will be smiling now.

rippa:
Here is a list of some of the notable awards bestow on Obi as governor of Anambra state;

1. Thisday Newspaper, the Most Prudent Governor in Nigeria in 2009.

2. Champion Newspaper, Nigeria's Most Trustworthy Governor Award in 2009.

3. This Day's Governor of the Decade (2020)

4. The Sun's Man of the Year (2007)

5. ICT Governor of the Year in 2010 by the West Africa ICT Development.

6. Business Hallmark Newspaper Man of the Year in 2012.

7. Silver Bird Man of the Year (with Governor Babatunde Fashola of Lagos State) in 2013.

8. In 2014, he won from Champion Newspaper the Most Outstanding Igbo Man of the Decade.

9. The Voice Newspaper (Holland) Achievers Award in 2014 for Outstanding Example in Leadership and Governance. (Even oyinbo recognised him)

10. Leadership and Good Governance Award in 2012 by The Ezeife Leadership Foundation Award for restoring peace and harmony to Anambra State.

11. Best Performing Governor on Immunization in South-East Nigeria in 2012 by Bill & Melinda Gates Foundation

12. Leadership Excellence Award's Man of the Year (20223)

Abeg awards too plenty, i nor fit list again

And what is the fate of Anambra? Whats the result of the fake awards?

That's what Peter Obi wants to do to Nigeria- dissolve the country due to inefficiency and poor leadership. Nobody should vote this horrible man who tells lies all over the place. A proper clown and buffoon.