Peter Obi, Presidential candidate of the Labour Party, is pictured during an interview with Reuters at his residence in Lagos, Nigeria August 18, 2022. REUTERS/Temilade Adelaja
The 2023 Presidential Candidate of the Labour Party, LP, Peter Obi, has on Monday, explained to Nigerians exactly how he intends to move Nigeria completely from a consumption to a production nation, should he emerge as the next President of Nigeria, come 2023 general elections,
In a series of tweets, Peter Obi stated exactly: “First, our focus will be on Agriculture and production-centered growth for food security and export, with more emphasis on exporting finished products, instead of commodities and raw materials.
“This relates mainly food and textiles. Nigeria has over 84 million hectares of arable land. And barely 40% of our arable land is cultivated today. Nigeria’s arable land is her new oil and gold.
“Second, pursuant to Goal 9 of the SDGs, our administration will from its inception, continue to encourage investment in infrastructure – energy, transport, irrigation, and telecoms, to grow these and other sectors.
“We are eager to quickly close the infrastructure gap between now and 2030. We will expand the frontiers of financial inclusion to ensure that SMEs have greater access to credit to grow.
“We will work with financial institutions to improve their ability to identify credit worthy borrowers; and support inventory financing, which will help to unlock finance for SMEs dealing with high account receivables.
“We will enforce the legal framework protecting foreign investors and their indigenous partners. This is the only way to tamper monopoly and capital flight.
“Third, as a nation, Nigeria must look beyond oil. We therefore, intend to leapfrog Nigeria from oil to the Fourth Industrial Revolution by expanding physical infrastructure through market-driven reforms that will unleash growth-enabling entrepreneurship and market-creating innovations.
“To ensure sustainability and resilience, we will stop borrowing for consumption. All loans must be invested in regenerative projects. We shall pursue a drastic reduction in cost of governance and corruption; improve ease of doing business to attract Foreign Direct Investment to jumpstart industrialisation and when borrowing is unavoidable, it will be strictly for production.”