â€¢ Party develops economic blueprint
Onyebuchi Ezigbo in Abuja
The Action Democratic Party (ADP) has blamed the growing unemployment, poverty and insecurity in the country on corruption and poor policy formulation.
The party insisted that the present administration has failed to meet the aspirations of the Nigerian masses especially in the area of human capital development and job creation.
ADP said it has good plans to turn the situation around when voted into power.
Addressing a press conference at its national headquarters in Abuja, ADP National Chairman, Yabagi Yusuf Sani, said after a thorough research, the party has developed an economic blueprint anchored on free trade and private sector participation as the core driver of the economy.
Speaking further on the poor condition in Nigeria at present, Sani said corruption and poor policy responses to the yearnings masses has led to deplorable living condition and insecurity.
He said: â€œNigeria appears not to be winning the war. First, there is the politicisation of the fight. However, the most insidious producer of corruption is the system and structure that we operate which motivates and inspires corruption.
â€œWhile it is good chasing after those who have pilfered the commonwealth, it is far more profitable and time- saving to truncate the system that breeds corruption.
â€œADP has developed the strategy of total reforms of the bureaucracies to address this challenge.â€
On the state of economy, the party also blamed the recession on the steps taken by the present government.
â€œNigeria just wriggled out of recession, caused by the disingenuous steps taken by the government and the impacts were immediate and sharp. The unemployment rate has doubled from 9.9 percent in the third quarter of 2015 to 18.8 percent in the third quarter of 2017, according to the NBS. The statistics agency has also disclosed that the number of unemployed Nigerians also increased to 15.99 million in the third quarter of 2017 from 11.9 million in the third quarter of 2016.
â€œIt is disheartening today that Nigeria has been mindlessly turned into a mono- economy so dependent on crude oil to the neglect of other sectors of the economy. Crude oil now constitutes about 90 percent of Nigeriaâ€™s foreign exchange earnings and about 80 percent of its total export. The most pathetic aspect is that successive leaders in Nigeria have failed to add value to the crude oil. It is shameful that over 90 percent of Nigeriaâ€™s crude oil is exported abroad for refining at great cost to this country and the leaders donâ€™t feel an iota of conscience.
â€œBut we know why this ill-motivated and dubious policy has sustained for years. The cabal that runs this crude oil export business has appropriated the sector with explicable but highly corrupt initiatives predicated on a subsidy regime that has corrosive impact on the Nigerian oil and gas industry.
â€œThat is why the cabal in connivance with their cronies and collaborators in government make the country appears helpless as its four refineries are deliberately plunged into protracted disrepair,â€ the party leader said.
According to Sani, Nigeria is said to consume about 30 million litres of petrol while the countryâ€™s refineries can only cumulatively produce 450,000 litres per day because our leaders have deliberately refused to find solutions to this anomaly.â€
On the economic blueprint being packaged by ADP, Sani said the party would implement a new policy on trade and investment that would open up opportunities for local and foreign investors both small and medium enterprises or multi-national companies.
â€œWhen we come to power, we shall change the structure of the economy from its purposeless colonial foundation to a more productive economy. Any one, for instance, who wants to do business in the oil sector in Nigeria, must refine petroleum products in Nigeria. We intend to establish factories with diverse capacities in every senatorial district in the country and fashion out the development initiatives suitable for the Nigerian people.â€