If elected president in 2023, the Peoples Democratic Party‘s (PDP) presidential candidate, Alhaji Atiku Abubakar, has stated that he is considering a government of national unity and tax rebate.
In a statement he personally issued on Tuesday in Kano and made accessible to newsmen in Abuja, the former vice president made this disclosure.
Abubakar stated that he was thinking of forming a government of national unity that would cool things down, bring Nigerians together, and open the door for increased security.
In addition to targeted tax breaks to draw both domestic and foreign investment, Abubakar added that increased security makes it possible for investments to be made, which in turn improves the economy.
The PDP candidate added that instead of incurring larger debts, Nigeria needed to bake a bigger cake.
He reminded that the GDP results for the second quarter of 2022 were issued by the National Bureau of Statistics (NBS) last week.
Despite a reported growth rate of 3.4%, he claimed that the economy and its residents were still facing difficulties.
“The causes are clear: first, the main economic sectors—agriculture, oil and gas, which is the nation’s cash cow, and manufacturing, which supports jobs—are either growing slowly or contracting.
“Second, rising commodity prices brought on by high energy and transportation costs continue unabatedly” (and aggravated by the disorderliness in the foreign exchange market).
Additionally, debt levels are rising even though the government’s ability to pay its bills is deteriorating.
All of the aforementioned factors, according to Abubakar, raise doubts about the claimed benefits of output increase.
He urged NBS to release the most recent data on poverty, unemployment, and commodity prices for public consumption.
According to Abubakar, increasing debt will lead to macroeconomic instability in the nation.
As I’ve already stated, adding to our debt load won’t ever be a solution.
“If elected, my government will slow the rate of debt buildup and put more of an emphasis on private-public partnerships for financing development.”
