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News/Events » Nigeria broke, still feels like we are in recession - Atiku by: PrinceBenjamin(m) .:. Wed, 14 Sep, 2022 - 02:41:34:pm GMT
Presidential candidate of Peoples Democratic Party, PDP, Atiku Abubakar, said yesterday Nigeria was currently being dressed in borrowed robes, adding the he would improve Nigeria's economy with a warm handshake” for the private sector.

Recall that Nigeria's current debt, local and foreign, stands at N41trillion, with the nation spending a greater chunk of its revenue to service debts.

Abubakar said the All Progressives Congress-led government has distorted the economy since 2015, adding that basic commodities are now beyond the reach of ordinary Nigerians.
The PDP standard bearer, who spoke at the presidential economic agenda forum of the Lagos Chamber of Commerce and Industry, LCCI, said: Nigeria is being dressed in borrowed robes.

APC has consistently run on a budget deficit since 2015, above three percent permissible threshold under FRA… and more if you add CBN and AMCON debt in ways and means.”

On his plans for the economy, Abubakar said he will pursue a warm handshake policy for the private sector”.

He said: We will ensure we give a warm handshake to the private sector. They are important for any sector or economy to succeed.

I enjoy making people rich. I feel fulfilled when I make opportunities for others.”

Abubakar said the country's economy was bleak and our challenges daunting no one should downplay the enormity of the tasks ahead.

‘'Indeed, I cannot think of a more daunting challenge than restoring confidence in the future of Nigeria as a dynamic economy and stable democracy.

I have a good grasp of the challenges bedevilling Nigeria. I know the root causes of our problems. I know that many of these problems are self-inflicted and can be reversed if we are determined. And we are determined.

I will not come unprepared. It is not in my character as a businessman or as a public officer to be caught off guard. My policy document contains the right policies that will be timely delivered.”

Atiku said Nigeria was broke” and that the economy was crawling rather than growing”.

He said: Per capita income, a measure of citizens' well-being, has progressively fallen since 2015 because of declining output and a fast-growing population. Nigerians are worse off today than they were in 2015.

The oil and gas sector, which is the economy's lifeline, has suffered a decline in 19 of 30 quarters since 2014. For many economic sectors and for the ordinary citizens it still feels as in a recession.

Under the present administration, our people are not working. More than 23 million people are out of jobs. In just five years, between 2015 and 2020, the number of fully employed people dropped by 54%, from 68 million to 31 million people.

The number of unemployed people is more than the population of Lagos State or the inhabitants of the Federal Capital Territory (FCT), Abia, Bayelsa, Cross River, Ebonyi, Kwara and Nasarawa states combined.

What is even more worrisome is that the majority of the unemployed are young men and women, who lack not only the means to survive but also any hope for the future.

The number of unemployed youths increased by nine million from four million in 2015 to 13 million in 2020.

Nigeria is broke. Nigeria under the APC-led government has consistently run-on budget deficits since it came to power in 2015. These budget deficits are often above the 3% threshold permissible under the Fiscal Responsibility Law.”

Atiku added that Nigeria was breaching one of the applicable debt-sustainability thresholds” by spending more on debt servicing than the country's revenue.

**Prince Benjamin**

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Re: Nigeria broke, still feels like we are in recession - Atiku by: Vickybrown(m) .:. Thu, 15 Sep, 2022 - 09:47:18:pm GMT

This guy is just speaking grammar he doesn't hv anything to offer
**Just me**

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Re: Nigeria broke, still feels like we are in recession - Atiku by: Wonders(f) .:. Fri, 16 Sep, 2022 - 12:49:12:am GMT

Hahahahaha. It's the "still feel like we are in recession" for me. Atiku must wunderstand that all of these Grammer means nothing. Also the chances of him winning is very slim. However we'll all see how it'll goes.

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Re: Nigeria broke, still feels like we are in recession - Atiku by: Abbey(m) .:. Fri, 16 Sep, 2022 - 05:51:51:pm GMT

I will say that that Atiku is trying to make a way for himself all what he has said is just a strategy for campaign even if what he has said is right it is still under politics campaign .

Obasanjo made a statement that the worst mistake he has make is when he choose Atiku as his vice President my question is why did obasanjo make such statement don't forget they are into power then years back ago.

In this era I mean this present time Atiku has no way to that presidential sit
Daddy Atiku the one you have done in the past is oky.
Give room for another person.
**Abbey **

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Re: Nigeria broke, still feels like we are in recession - Atiku by: Nagiano(m) .:. Sun, 18 Sep, 2022 - 09:04:45:am GMT

This man has been fighting so hard to become the president of Nigeria for many years. Imagine the amount of money he has wasted on election and campaigning..
If given the chance, he would eventually recover all by looting our funds...
I just hope we vote right in this coming election...
**Man United for Life**

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Re: Nigeria broke, still feels like we are in recession - Atiku by: Iyanu(f) .:. Sun, 25 Sep, 2022 - 09:18:19:pm GMT

Mr Atiku you are aspiring for the post of President what will happen to Nigeria if you finally gain that post you have in mind , you are saying all these we already know your plan and tactics that presidential seat is your target well only God knows who will be on that seat next year.

All these you have said is good but are you not part of those of who distroy Nigeria , don't you know the amount of money you spend during primary election you pay bribe for primary election .

All what you aim at is only for your own good not for the benefit of the country an don't deceived us you are still on the race let watch out and see .
**Oladipupo **

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