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Crude Oil Not Sold For $100 In 16 Years Of PDP – Atiku 0 0
Crude Oil Not Sold For $100 In 16 Years Of PDP – Atiku
The presidential candidate of the Peoples Democratic Party (PDP)
on Wednesday punctured the claim by the President
Muhammadu Buhari-led federal government that oil price hovered
at $100 per barrel in the 16 years of PDP’s rule, saying it was only
sold for that price in two years of former President Goodluck
Jonathan’s administration.
Besides, he said his former boss, President Olusegun Obasanjo
inherited a crude oil price of $11 per barrel yet took Nigeria out of
recession, cleared the country’s foreign debts and grew the
economy by six percent.
He stated this while delivering the quarterly business lecture of
Lagos Island Club where he spoke on “My vision to get Nigeria
working again”, saying the current structure of the country is not
He said for Nigeria to develop into a united, prosperous and
secure nation, it must adopt a new economic management model
and a new political structure “that will cure all the federating units
of their addiction to oil revenues”.
Atiku said the present administration came into power and took
Nigeria to recession while drawing back the economic gains of the
previous administrations under the PDP.
He said though the country is blessed with the human resources
to make quantum leap from a third world nation to a developed
country, the last four years had witnessed deterioration in all
aspects of human development.
According to him, “unemployment has unfortunately been our
only booming industry with over 13 million people joining the
ranks of people without a job, which now totals 21 million.”
He said the actions and inactions of government had weakened
investors’ confidence in Nigerian economy, noting that Ghana with
a population of 13 million people attracted more Foreign Direct
Investments (FDI).
“In order to reverse the trend, our economic policy would be
more coherent, consistent and therefore more predictable by the
business community. Nothing could be more threatening to
investment flows than an environment that is full of policy flip-
flops”, he said.
He reiterated that if elected, he would run a private sector-driven
government towards enhancing the capacity of private businesses
to create jobs.
According to him, unlike during Obasanjo’s presidency when
there used to be regular meetings with Chief Executive Officers of
major companies, nothing of such is presently happening.
He lamented that there is no council of privatization in place,
saying it stopped during Jonathan’s administration.
“The AtikuPlan recognizes the private sector as the engine of
growth of our economy. A strong, productive and pro-growth
private sector is needed to create wealth, generate employment
opportunities and help fight poverty.
“We pledge to improve government consultations with the private
sector in policy design and policy implementation. We will work
with the Organized Private Sector to identify ways to reduce the
cost of borrowing, tackle incidences of multiple taxations and
improve availability of foreign exchange for legitimate production
input purchases”.

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