Lagos, Jan. 13, 2023 – Bola Tinubu, the Presidential Candidate of All Progressives Congress (APC), has promised that the Nigerian economy will be private sector-driven if elected.
Tinubu made the promise on Friday in Lagos while presenting his economic plan before the organised private sector under the aegis of the Nigerian Economic Summit Group (NESG).
Tinubu stressed the need to end the fuel subsidy regime, insisting that it has overstayed.
“My core belief is that the private sector must be the prime driver of economic progress. However, the government establishes the framework within which the private sector must operate.
” If that framework is sound, the private sector will flourish. If the framework is frail or incomplete, then the private sector will struggle,” he said.
Tinubu, however, said that before economic recovery could be achieved, the nation must be secured.
“First, to achieve the economy we seek, we must resolve the pressing security issues. No nation can flourish with terrorists and kidnappers in their midst,” he said.
Tinubu said his plan would be to urgently address the fiscal, monetary, and trade reforms to effectively increase domestic production immediately after he resumed office.
He said this would help to curb imported inflation and to ensure better macro-economic stability by accelerating inclusive growth and job creation across Nigeria.
“I do not hold to the mainstream view that all forms of inflation are best tackled by interest rate hikes and shrinking the economy.
“Supply-induced inflation does not lend itself to this harsh medicine, just as one does not cure a headache by plucking out one’s eye,” he said. (GBN)
