The presidential candidate of Peoples Democratic Party(PDP) has advised the federal government to desist from adding more debts to the nations profile, stressing that it is no solution to the nations economic crisis.
The former Vice-President in a statement on Tuesday said that the economy is in deeper trouble than the APC-led government is willing to admit.
Atiku observed that last week, the National Bureau of Statistics released the GDP figures for Q2-2022 which showed that government has been unreasonably upbeat about the reported growth rate of 3.4%.
According to the Waziri Adamawa, “the citizens’ level of misery hasn’t changed, and the reasons are obvious: first, the key sectors of the economy, notably agriculture, oil and gas (the country’s cash cow) and manufacturing (that contributes to jobs), are either growing slowly or declining.
“Second, unabated are rising commodity prices occasioned by high energy and transportation costs (and aggravated by the disorderliness in the forex market).
“Also, debt levels continue to rise while the fiscal capacity to service its debts is declining. All these are enough to erase the perceived gains from output growth.
“Having run out of ideas, it appears that our unprecedented level of indebtedness is whetting the government’s appetite for more debt. This is a recipe for macroeconomic instability”.
He said that available data on unemployment and poverty showed that the present government has thrown the common man into a very hopeless state.
“We challenge the National Bureau of Statistics to share with the public their recent statistics on poverty, unemployment and commodity prices — the reality of which will leave no hope for the common man.
“Like I have said before, increasing debts will never be a solution to our indebtedness. My government, if elected, will halt the rate of debt accumulation and instead focus on private-public partnerships in financing development”.
Atku said that his government will halt the borrowing trend, revive the the economy and improve on security.
“Also is the consideration of a government of national unity that will douse the temperature, unite Nigerians and pave the way for improved security. Improved security allows for investments and, therefore, an improved economy. Also targeted tax rebates to attract foreign and local investments, amongst other proactive measures to attract investments to grow the economy”.
