Economy: Atiku proposes $10bn fund to boost agriculture, MSMEs

The presidential candidate of the Peoples Democratic Party, PDP, Atiku Abubakar, has proposed an Economic Stimulus Fund with an initial investment capacity of approximately $10 billion in the first 100 days in office if elected in 2023.

Atiku who made the disclosure on his verified Twitter handle, @atiku, said the fund is to support private sector investments in infrastructure and to prioritize support to agriculture, manufacturing and the MSMEs across all the economic sectors, as they offer the greatest opportunities for achieving inclusive growth.

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“Within the first 100 days in office, we shall unveil an Economic Stimulus Fund with an initial investment capacity of approximately US$10 billion.

“This is to support private sector investments in infrastructure and to prioritize support to agriculture, manufacturing and the MSMEs across all the economic sectors, as they offer the greatest opportunities for achieving inclusive growth,” he said.

The former Vice President said he would also elevate irrigation to a top policy priority and support both small holder and commercial farmers to cultivate at least 10% of the potential irrigable land, which he said is currently about 2%.

Atiku opined that a large volume of non-oil exports will earn more foreign exchange for Nigeria, improve foreign reserves and help stabilise the Naira.

“To grow the economy (raise GDP), export more, and stabilise the Naira are all interrelated. Stimulating exports requires a coherent and investor-friendly foreign exchange policy that improves the global competitiveness of domestic enterprises.

Larger volume of non-oil exports will earn more foreign exchange for Nigeria, improve our foreign reserves, and help in stabilizing the Naira. All of these will contribute to growth in GDP,” he said.

He also said that his government will tackle insecurity and restore investor confidence by ensuring consistent and coherent economic policies.

“We will restore investor confidence in our economy so that they take risk and invest capital especially in the non-oil sector. This we can achieve by being more consistent and coherent in our economic policies (policy flip-flops sends investors away).

“Also, by fighting insecurity. Investment is a coward animal and fears conflicts and insecurity,” he added.

The Special Assistant Digital Media Operations to the former VP, Eta Uso, said Atiku has demonstrated that he is the most prepared to occupy the number one position in the country as he has plans to address her challenges.

“It’s so objectively clear that H.E Atiku is the only man with a plan. Nigeria failed woefully in the past 7 years because we’ve had a leader who ran on his party’s manifesto and denied same afterwards. But here is H.E Atiku with his plans in his name. We can’t go wrong with Atiku!,” he said.