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Atiku Abubakar outlines what he would have done for Nigeria’s Economic Reforms

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Atiku Abubakar

***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

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Taxation Debate: Adebayo Demands Transparency in Revenue Allocation

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Prince Adewole Adebayo

Former Social Democratic Party (SDP) Presidential Candidate, Adewole Adebayo, has raised critical questions about Nigeria’s tax system, calling for greater accountability and a focus on citizens’ welfare.
Speaking during a public engagement, Adebayo criticized the ongoing debates on tax reforms as disconnected from the realities faced by Nigerians.
“The issue is not just about new tax bills but about accountability for the trillions already collected. Before introducing new taxes, let us ask: where is the money from petroleum, solid minerals, and other sources?” Adebayo queried.

Adebayo also expressed concern about the increasing tax burden on ordinary Nigerians, particularly with value-added tax (VAT) hikes on essential goods.
“The poor are being squeezed while the political class enjoys extravagance. Raising taxes on essentials is unjust when previous revenues remain unaccounted for,” he said.

Adebayo highlighted the gap between revenue collection and public service delivery, noting that while the government collects significant sums daily, the average Nigerian continues to struggle.
“Every day, the government collects more money than some West African nations generate in a year. Yet, Nigerians remain hungry and underserved. Where is the transparency?” he asked.
He criticized the focus on intergovernmental tussles over tax revenues, describing it as irrelevant to the suffering masses.
“The debate over whether Abuja or state governments should hold more tax revenue is a fight among the elite. Nigerians care about results, better schools, healthcare, and roads not about who controls the funds,” he added.

Adebayo urged the government to revisit constitutional principles designed to guide the allocation and utilization of resources. He emphasized the need for a leadership ethos that prioritizes public welfare over personal gain.
“The Constitution provides a framework for equitable governance, but it is being ignored. Leaders must redirect funds toward improving lives, not luxuries,” he stated.
He urged citizens to demand accountability, noting that sustainable development requires ethical governance and effective resource utilization.
“Nigerians must not only ask for better policies but ensure their leaders are accountable. The focus should be on meeting citizens’ basic needs, not enriching a select few,” he concluded.

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Adeyanju Slams PDP for Expelling Ugochinyere While Wike Remains a Member

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Deji Adeyanju

Activist lawyer Deji Adeyanju has criticized the Peoples Democratic Party (PDP) for expelling House of Representatives member Ikenga Imo Ugochinyere, accusing the party of being hypocritical and dysfunctional.
Adeyanju questioned the party’s decision to expel Ugochinyere for alleged indiscipline and anti-party activities while allowing Minister of the Federal Capital Territory (FCT), Nyesom Wike, to remain a member despite his controversial actions.
In a post on X, Adeyanju stated, “Ikenga Ugochinyere, the courageous one, has been expelled for anti-party by APC moles who are in charge of PDP, but Wike is still a member of the PDP. The jokes write themselves daily. The PDP is a dead party awaiting funeral rites.”
His comments reflect growing disillusionment with the PDP’s internal dynamics, as the party struggles with leadership issues and public perception. Ugochinyere’s expulsion, following a report by the party’s disciplinary committee, has sparked further criticism, with many questioning the party’s commitment to fairness and consistency in handling its members.

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PDP Expels Rep Ikenga Ugochinyere for Breaching Party Rules, Anti-Party Activities

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Ikenga Imo Ugochinyere

The Peoples Democratic Party (PDP) has expelled Hon. Ikenga Imo Ugochinyere, the House of Representatives member for Ideato North/Ideato South in Imo State, over serious allegations of indiscipline and anti-party behavior.

In a letter issued on December 5, 2024, the Ideato LGA chapter of the PDP announced Ugochinyere’s expulsion, citing his failure to adhere to party norms. According to the disciplinary committee’s report, Ugochinyere was found guilty of a series of offenses, including neglecting to attend party meetings, spreading unauthorized information about internal disputes, and establishing rival party structures at the ward, LGA, and national levels. His repeated public criticisms and derogatory statements against the party and its leaders were also flagged as actions that harmed the party’s image.

This decision follows a suspension issued earlier in October 2024, after Ugochinyere failed to respond to disciplinary summons. The party leadership emphasized that his actions were in clear violation of PDP’s constitution, leading to his expulsion with immediate effect. Ugochinyere is now officially no longer a member of the PDP.

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