Nigeria’s former Vice President and leading contender in the fast-approaching February Presidential poll, Alhaji Atiku Abubakar, yesterday stated that he plans to create a $25 billion investment fund that would facilitate private sector investment in Nigeria’s infrastructure.
According to Mr Abubakar, part of the $25 billion would also be used to reform the country’s epileptic power sector which, for many years, has been a bane of the Nigerian economy.
Furthermore, the 72-year-old politician disclosed that he plans to increase the country’s infrastructure stock to about 50% of the national gross domestic product over the next six years; that is by 2025.
“Our vision is to accelerate investment to double our infrastructure stock to approximately 50 percent of GDP by 2025 and 70 percent by 2030.” – Atiku Abubakar
The presidential hopeful made these disclosures on Wednesday during a lecture that was organised by the Lagos Island Club.
How feasible are these plans?
Now, depending on your political allegiance, these could be great plans; or not. Yet, executing them completely depends on if Mr Abubakar can win the February polls, and if he actually has the commitment to see through his campaign promises.
Lots of campaign promises
Speaking of campaign promises, the PDP flag bearer has been making lots of them. According to his policy document which was obtained by Nairametrics back in November last year, he promised a number of things, including the following:
- Ensuring a competitive and open economic system
- Reducing the country’s infrastructure deficit
- Reforming public institutions
- Promoting economic diversification
- Human capital development, etc.
On the human capital development, Mr Abubakar specifically promised to create about 3 million jobs per annum. And while this may have sounded like a nice thing to say, it is a familiar and never-fulfilled campaign promise which Nigerians have been hearing since the Second Republic, perhaps.
Atiku has also talked tough measures
As Nairametrics have consistently been reporting recently, President Buhari’s main contender has been very critical of the current administration’s policies. Just recently, he refused to participate in a Presidential Debate after President Buhari failed to show up.
Earlier on, he criticised the Nigerian National Petroleum Commission and also threatened to sack the Governor of the Central Bank of Nigeria (CBN) whom he claimed hasn’t been doing the job well. He also wants to float the Nigerian currency, the naira.
Once again, all these are completely dependent on if the man is successful with his presidential bid. The much-anticipated election will hold on February 16th, 2019.