Atiku Abubakar, the presidential candidate for the African Democratic Congress, has warned the federal government that national prosperity cannot be achieved through excessive borrowing, taxation, or heavy reliance on imports. He argues that Nigeria must focus on domestic production, manufacturing, and exporting local goods to secure its economic future.
In a statement issued by his aide, Phrank Shaibu, Atiku stated that the current economic crisis stems from policies that favor consumption and importation over self-sufficiency. He pointed out that Nigeria is struggling with high food inflation and a decline in manufacturing output, noting that nearly 3.53 trillion naira was spent on importing raw materials in just six months.
The former vice president emphasized that a nation cannot prosper by exporting jobs and importing poverty. He proposes an economic shift toward agriculture, technology, and mineral development. His plan includes securing agricultural regions, lowering import duties on industrial equipment, ensuring stable energy pricing, and improving infrastructure such as roads and rail. By fostering a business-friendly climate similar to the reforms during his time as vice president, Atiku believes Nigeria can restore economic stability and strengthen the local currency.
