Politics
Atiku Abubakar outlines what he would have done for Nigeria’s Economic Reforms
***Calls for Strategic Planning and Empathy
Former Vice President of Nigeria and 2023 Presidential candidate for the Peoples Democratic Party(PDP) Atiku Abubakar has shared his vision for a reformed Nigerian economy, detailing what he would have done differently to address the country’s current economic challenges.
Responding to public interest in his approach, Abubakar outlined a detailed strategy focused on economic stability, institutional reforms, and social protection for vulnerable Nigerians.
Speaking through his chief spokesperson Mr. Paul Ibe, the former vice President emphasized the need for better planning and strategic reform implementation.
“Rather than focusing on me, Nigerians should be asking what President Tinubu can do now to alleviate the pain caused by his economic policies,” he stated. However, he expressed hope that some of his ideas might inspire solutions for Nigeria’s economic struggles.
Reeling out his strategy that included Comprehensive Economic Planning and Sequencing of Reforms, Abubakar underscored the importance of a well-coordinated reform strategy.
He argued that implementing major fiscal changes, such as fuel subsidy removal and exchange rate adjustments, all at once was too abrupt for Nigeria’s economic environment. “We would have sequenced our reforms to achieve fiscal and monetary alignment and avoid overwhelming the economy,” he explained.
He also dwelled on the need for transparent communication and public engagement highlighting the need for open communication with the public, stressing that public trust is essential for successful reforms. “Transparent communication with the public is essential to build public trust, which is important to ensure that citizens understand what the government is doing,” he said.
“One of Abubakar’s priorities would have been to establish robust social protection programs to shield low-income Nigerians from the impact of economic reforms. “Our reforms would have a human face,” he stated, outlining plans for a social safety net that would provide financial support and economic opportunities for the most vulnerable.
On specific Measures to Boost Economic Development Abubakar proposed the creation of $10b Economic Stimulus Fund to support small businesses across Nigeria.
The fund, he said, would empower MSMEs and support youth employment through targeted skills-to-job programs.
Abubakar’s plan included creation of an Infrastructure Development Unit directly under the presidency to coordinate infrastructure projects across the country.
“The IDU would work with ministries to oversee a $25 billion Infrastructure Development Fund to speed up projects in transportation, energy, and communication.
“To address Nigeria’s currency challenges, Abubakar advocated for a managed-floating exchange rate, rather than a fully flexible rate.
He argued that such an approach would help maintain currency stability while avoiding the pitfalls of a fixed rate system.
Abubakar reiterated his stance on subsidy removal, arguing for a gradual, phased approach that would allow the economy to adjust. He proposed reinvesting the funds saved into healthcare, education, and rural infrastructure, while increasing domestic refining capacity to reduce dependency on fuel imports.
In conclusion, Abubakar expressed hope that President Tinubu’s administration would consider some of these ideas to address the nation’s economic issues, emphasizing that Nigerians deserve leadership that prioritizes their well-being. “I believe that our sacrificial investments today will form the foundation for tomorrow’s development strides,” he said, affirming his commitment to a vision of “a New Nigeria.”
Culled from Everyday.ng
***Describes Process as “Victimless Crime” in Scathing Critique
The Social Democratic Party (SDP) presidential candidate in the 2023 elections, Prince Adewole Adebayo, has issued a critical assessment of the recent Ondo State Governorship Election, labeling it an “Ondo Auction.”
Adebayo argued that the election was less about genuine democracy and more about transactional politics, with “willing buyers” and “willing sellers” dominating the process.
Taking to his X account, Adebayo suggested that the Ondo election could serve as a case study for the Central Bank’s foreign exchange practices, given the efficient “marketplace” nature of the vote.
He lamented what he saw as a lack of authentic voter engagement, claiming that ballots appeared to be traded as commodities rather than cast with genuine intent.
Adebayo extended his criticism to the Independent National Electoral Commission (INEC), the police, and major media outlets, whom he accused of watching passively as the alleged auction unfolded.
Offering sarcastic congratulations to those who “purchased” the victory, he sympathized with voters, whom he felt had unknowingly relinquished their democratic power in a flawed process.
Quoting a biblical phrase, “Father Forgive Them For They Know Not What They Do,” Adebayo expressed sadness over the state of democracy in Ondo and called for divine intervention to steer Nigeria towards a more transparent electoral future.
In his post, Adebayo remarked: “The Ondo State Governorship Election of yesterday is what criminologists would term as victim-less crimes: a spectacle of willing buyers @OfficialAPCNg meeting willing sellers in a perfect market that should be an example for @cenbank in the foreign exchange markets. Ondo Auction is smoother than the Dutch Auction. Four years sold so freely and openly that no one should lie that they were coerced or intimidated or browbeaten. And @PoliceNG and @inecnigeria @AIT_Online @ARISEtv @KAFTAN_TV @channelstv @NTANewsNow all witnessed it live.
“No one should pretend that they need someone to interview over this. It is in order to congratulate the buyers on their purchased ‘victory’ while shedding some tears for the sellers with the Calvary elegy that ‘Father Forgive Them For They Knoweth Not What They Do.’ God Bless Nigeria and may God Guide Ondo State.”
Adebayo’s post has since sparked conversation across the country, with calls for reform and a stronger commitment to electoral integrity in Nigeria.
The Independent National Electoral Commission (INEC) has announced the reinstatement of Olorunfemi Ayodele Festus as the Labour Party (LP) candidate for the Ondo State governorship election, replacing Olusola Ebiseni just hours before the vote.
The decision followed a Court of Appeal ruling which overturned an earlier Federal High Court judgment that had named Ebiseni as the party’s candidate.
In an official statement shared on its X handle, INEC confirmed receiving the Certified True Copy (CTC) of the appellate court’s judgment.
INEC’s statement explained that the Federal High Court in Abuja had initially directed the Commission on September 27, 2024, to recognize Ebiseni as LP’s candidate, but the Court of Appeal nullified this decision, citing jurisdictional issues.
In compliance with the appellate court’s ruling, INEC restored Festus’s candidacy, adding his name to their website as the official Labour Party nominee for the 2024 Ondo State Governorship election.
This unexpected development introduces a last-minute shift for the Labour Party, which has been actively preparing for a competitive election.
Former presidential candidate of the Labour Party(LP) in the 2023 general election, Peter Obi has once again pledged his commitment to democracy in Nigeria, despite ongoing challenges with the electoral process.
Obi traveled to Ondo State on Monday to campaign alongside LP’s governorship candidate, Hon. Sola Ebiseni, describing him as a capable leader with the necessary competence to effectively govern the state.
Obi highlighted Ebiseni’s work as the Secretary of Afenifere, where he has consistently advocated for fairness, equity, and justice.
Obi urged the people of Ondo to reject transactional politics, which he believes has contributed to misgovernance and poor leadership.
He stressed the importance of choosing leaders who are focused on long-term solutions for the state and the nation.
He concluded with a message of hope: “A new Nigeria is POssible!”
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