All Progressives Congress,
APC presidential candidate, Gen. Muhammadu Buhari (ret), yesterday, unfolded
his plans on how to revive the Nigerian economy before the Organised Private
Sector, OPS, in Lagos, asserting that tackling corruption and insecurity were
key elements to the plan.
At the meeting, entitled, ‘GMB Means Business,” Buhari put
privatisation of the transmission companies, construction of inter-state roads,
revival of local refinery production, among other schemes, to boost job growth
in the economy. Continue..
Buhari, nevertheless asserted that whatever plans aimed at reviving
the economy could only yield fruit if corruption and the spate of insecurity in
the country are frontally tackled. He said that an opinion poll conducted prior
to the production of the manifesto of the APC showed that majority of Nigerians
put insecurity, corruption and the economy as their major priorities.
Giving his plans on how roads reconstruction could revive jobs,
he said: “We will concentrate on the roads and highways that link up Nigerian
states, while state governments will be expected to connect their states to
these highways by building the last mile connections.
“Road construction alone will unlock a value chain of
opportunities in the building industry for construction companies, builders,
engineers, architects, quarry operators, cement and iron rod production and
supply.
“The successful opening up of Nigeria by the construction of new
roads and highways will revive road transportation, truck manufacture, tyre
manufacture, engine oil, brake pad productions on one hand.
“It will also create a demand for jobs for mechanics, drivers
and those engaged in transport support business. We expect a revival of all the
inter-state economies that used to thrive across Nigeria, providing support to
travellers by way of canteens, restaurants, farm produce, etc.”
Noting the cost of corruption to the economy, the presidential
candidate cited issues with the unresolved $20 billion allegedly missing funds
from crude receipts.
He said: “Corruption affects our ability to secure ourselves, and it also
undermines the performance of the economy.
“This current government is being challenged to account for an
estimated $20 billion and the whole country is awaiting a report of a forensic
audit. $20 Billion at N210 to $1.00 is equal to N4.2 trillion – nearly a year’s
federal budget.
“If it is true that this sum cannot be accounted for, this is
grossest form of corruption. Just think at N5 million per vehicle, this money
would have bought 840,000 patrol vehicles; (this would have improved security
in every town and village in the country)
“At N13.5 million for a high capacity bus this money would have
bought 311,000 buses; (this would have revolutionised the transport and
production side of the economy)
“From information at my disposal, Lekki Bridge in Lagos cost N29 billion to
construct. N4.2 trillion would have built 145 Lekki bridges; (this would have
revolutionised transport, infrastructure, construction, employment in the
economy)
“If the average cost of generating one mega watt of power is
about US $1.5 million (excluding gas and distribution costs), $20 billion would
have bought over 13,333 mega watts of power. What a difference that would
make up and down the country!
“If you also factor the N2.2 trillion spent on subsidising fuel
import which became a huge scandal, you may then understand why our manifesto
focuses on the issues of security, corruption and the economy.
“We are too vulnerable as a nation at this moment if we have to
import fuel to move our planes, our tanks and our men. We are too vulnerable as
you can see that we also have to import arms. We are vulnerable because our
troops also depend on imported food.”
Buhari was escorted to the meeting by Governor Babatunde
Fashola, Chief John Odigie-Oyegun, national chairman of the APC; Governor
Rotimi Amaechi, director general of the APC Presidential Campaign
Organisation; Mallam Nasir el-Rufai, APC governorship candidate in Kaduna
State, among others.
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