₦airaland Forum

Atiku Abubakar, former vice-president and presidential candidate of the African Democratic Congress (ADC), says Nigeria cannot achieve sustainable economic growth by relying on imports instead of domestic production.

In a statement issued on Monday by Phrank Shaibu, his senior special assistant on public communication, Atiku said the country’s economic recovery depends on producing what it consumes, manufacturing what it uses, and exporting finished goods.

He attributed the hardship facing Nigerians to policies that encouraged consumption and importation at the expense of local production and industrialisation.

For too long, we have celebrated importation while neglecting production,” he said.

“We import food that should be grown in our fields, goods that should be manufactured in our factories and even raw materials that ought to be processed by Nigerian hands. No nation has ever become prosperous by exporting jobs and importing poverty.”

Atiku said the country’s economic challenges were evident in rising food inflation and declining manufacturing output.

He said food inflation stood at 17.52 percent nationally, with rates as high as 53.02 percent in Kogi and 43.83 percent in Niger state.

The presidential candidate added that Nigerian manufacturers spent N3.53 trillion importing raw materials in six months.

A nation cannot build prosperity when its factories are falling silent. We are exporting jobs, importing inflation, weakening the naira and mortgaging our future,” he said.

The former vice-president said Nigeria must rebuild its economy around agriculture, manufacturing, solid minerals, technology and value addition.

"Every bag of cocoa processed from Idanre and the rich cocoa belt of Ondo State, every bag of rice harvested in Kebbi, every yam cultivated in Benue, every tomato processed in Kano, every pharmaceutical produced in Aba, every leather product made in Kano and every machine assembled in Nnewi creates jobs, strengthens the naira and reduces our dependence on imports,” he said.

Atiku recalled that the administration of Olusegun Obasanjo, in which he served as vice-president, implemented market-oriented reforms that attracted investment and supported economic growth.

The politician said an ADC administration would restore security to farming communities and industrial corridors because “food security begins with farm security”.

He said his administration would reduce import duties on industrial machinery not produced locally, provide affordable long-term credit to farmers and manufacturers, ensure competitive electricity and fuel prices, stabilise the naira, invest in power, roads, rail, irrigation and storage infrastructure, promote agro-processing and industrial clusters, reform the tax system to reward production and improve workers’ purchasing power.

“Factories cannot thrive where borrowing is prohibitive, energy is unaffordable, the currency is unstable and consumers are too poor to buy locally made goods,” he added.

Our mission is simple: Produce in Nigeria. Employ Nigerians. Consume Nigerian products. Export Nigerian excellence.

“The wealth of nations is measured not by what they import but by what they produce, process and export. That is the Nigeria we helped build before, and by the grace of God, that is the Nigeria we shall build again.”

Kingrshd3:
Local production that will be more costly than imported once ..

It's always easier said than done bro

Richtaiwo:
Does he need to vow? He vowed to be transparent in handling of BPE, can he now explain the vowed transparency to Obasanjo?

How can Obj now expunge this part from his book.

HacheNoire:
Scam!

Same one that lead and profited from privatization

Atiku will outsource the entire Nigeria at the right price.

His affinity with money is in exponentials.

SlavaUkraini:
https://www.thecable.ng/atiku-vows-to-prioritise-local-production-if-elected-president-in-2027/

CzarChris:
Atiku would be the worst thing to happen to this country if elected. Infact, instead of atiku to be president make tinubu continue, this man would sell the entire country, won't have a country remaining if this man is allowed to enter Aso Rock as president

Kingrshd3:
Local production that will be more costly than imported once ..

Local rice is around 75k and imported once are around 50k + 😂 😆

So what's the significance of local production 🤔

It's always easier said than done bro ..

lapintoz:
Lamba of the highest order. Dubai is enjoying all the funds looted by Atiku. How come he did not use the stolen money to start local manufacturing in any part of the country.....

Richtaiwo:
Does he need to vow? He vowed to be transparent in handling of BPE, can he now explain the vowed transparency to Obasanjo?

How can Obj now expunge this part from his book.

SlavaUkraini:
https://www.thecable.ng/atiku-vows-to-prioritise-local-production-if-elected-president-in-2027/