The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has disclosed his plan to revive the economy.
Atiku spoke at the 26th Lagos Business School Alumni Conference.
The one-time vice president shared his thoughts on fuel subsidies, exchange rates, power, debt crisis, and others.
Also present at the event was the presidential candidate of the Labour Party (LP), Peter Obi, and many business executives including former Director-General of the Lagos Chamber of Commerce and Industry (LCCI) Dr. Muda Yusuf.
Atiku gave a brief background on the economic gains of the PDP between 1999-2007 when he was vice president, including debt cancellation, privatization, banking reforms as well as an effective working partnership with the private sector.
He said: “I was the chairman for the removal of the fuel subsidy committee and I recall how we removed phase one and phase two of the fuel subsidy.
“I will continue from where we stopped, remove fuel subsidies totally and channel the subsidy funds back to the economy. In other words, it’s just a fraud.”
On debt forgiveness, he said: “If you are talking about foreign debt, we have done it before, I will engage our creditors and ask for debt forgiveness or cancellation like we did before.
“Coming to local debt, if we stabilize the economy, we will borrow less and propose a flexible payment plan.
“Again, I want you to compare our records with the current government and you can see who did well economically.”
