Stop importing poverty, Atiku tells FG, advocates massive industrialization

By Omeiza Ajayi ABUJA: Presidential Candidate of the African Democratic Congress ADC, Atiku Abubakar, has told the Federal Government that it cannot borrow, import and tax its way to prosperity, insisting that the country’s economic salvation lies in producing what it eats, manufacturing what it uses and exporting what it makes. “Factories cannot thrive where borrowing is prohibitive, energy is unaffordable, the currency is unstable and consumers are too poor to buy locally made goods. Our mission is simple: Produce in Nigeria. Employ Nigerians. Consume Nigerian products. Export Nigerian excellence. The wealth of nations is measured not by what they import but by what they produce, process and export. That is the Nigeria we helped build before, and by the grace of God, that is the Nigeria we shall build again,” Atiku said. In a statement on Monday in Abuja by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the hardship confronting Nigerians is not merely the result of global headwinds but the inevitable consequence of policies that rewarded consumption over production, importation over industrialisation and dependency over self-reliance. “For too long, we have celebrated importation while neglecting production. We import food that should be grown in our fields, goods that should be manufactured in our factories and even raw materials that ought to be processed by Nigerian hands. No nation has ever become prosperous by exporting jobs and importing poverty. “Food inflation remains at 17.52 per cent nationally and has climbed to 53.02 per cent in Kogi and 43.83 per cent in Niger State, pushing millions of families beyond the reach of basic nutrition. Nigerian manufacturers also spent ₦3.53 trillion importing raw materials in just six months, while industry experts have warned that declining manufacturing tax contributions reflect weakening industrial activity and shrinking factory output. A nation cannot build prosperity when its factories are falling silent. We are exporting jobs, importing inflation, weakening the naira and mortgaging our future”, he said. Atiku said Nigeria must urgently rebuild an economy anchored on agriculture, manufacturing, solid minerals, technology and value addition. The former vice president recalled that the Obasanjo-Atiku administration implemented market-oriented reforms that restored investor confidence, liberalised key sectors and attracted unprecedented private investment, laying the foundation for one of Nigeria’s strongest periods of economic growth. According to him, an ADC government would restore security to farming communities and industrial corridors, noting that “food security begins with farm security.” Atiku said his administration would reduce import duties on industrial machinery not produced locally, provide affordable long-term credit for farmers and manufacturers, guarantee competitive electricity and fuel pricing, restore stability to the naira, invest in power, roads, rail, irrigation and storage infrastructure, promote agro-processing and industrial clusters, reform the tax system to reward production, and ensure decent wages that strengthen Nigerians’ purchasing power. The post Stop importing poverty, Atiku tells FG, advocates massive industrialization appeared first on Vanguard News.

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