The All Progressives Congress (APC) Presidential Candidate, Asiwaju Bola Tinubu, pledged in his 80-page manifesto unveiled in Abuja on Friday to end the contentious petrol subsidy that eats up trillions of Naira annually and to address the forex crisis impeding the economy if elected president in the 2023 presidential election as the general elections approach and with less than seven months left in the term of the Buhari-led APC Government.
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Asiwaju made promises in his campaign platform titled “Renewed Hope: Action Plan for a Better Nigeria,” which was revealed at the State House Banquet Hall in Abuja along with the inauguration of the 2023 APC Presidential Campaign Council (PCC) by President Buhari, according to THISDAY.
But in the policy statement, Tinubu also committed to speeding up the full implementation of the Petroleum Industry Act and enacting additional beneficial regulations to draw investment to the downstream sector within six months, in addition to phasing out gasoline subsidies.
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He also promised to fully restructure the downstream industry and ensure that local refinery capacity matches domestic consumption needs in order to ensure the stability of petroleum product supply across the country.
Regarding the ongoing foreign exchange issue that is hurting the economy, he said that the recent decline in our exchange rate was mostly brought on by global supply and production deficiencies that were the result of external causes that were out of our control.
As a result, we will make sure that the exchange rate policy supports our objectives of maximum growth and job creation brought on by the development of the industrial, agricultural, and infrastructure sectors. In order to thoroughly analyse and more effectively optimise the exchange rate regime, we will collaborate with the Central Bank and the financial industry.
Our objective of a stronger, more stable Naira built upon a thriving and productive real economy will direct our economic policy.
Additionally, as previously reported, President Muhammadu Buhari stated on Friday that the APC holds a better chance of securing Nigeria’s future.
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