Economy

Olawepo-Hashim to create $4 trillion GDP in 10 years

by JAMES KWEN, Abuja

November 6, 2018 | 12:07 am
  |     |     |   Start Conversation

Gbenga Olawepo-Hashim, Presidential Candidate of the Peoples Trust (PT) has announced a blue print for new Nigerian Economic Development plan that will create 4 trillion dollars Gross Domestic Product, GDP in 10 years.

Olawepo-Hashim said his policy document targets to net 5% of Global infrastructure funds in 10 years by removing obstacles to investments, rapidly increasing the ease of doing business in Nigeria as well as promoting an innovative  economy by protecting proprietary rights of innovators and the sanctity of agreement.

He promised to integrate Agriculture, Solid Mineral Sector with industries and increase manufacturing share of the GDP to 40% and then tackle unemployment through industry based jobs.

The PT Presidential candidate in an interactive session with journalists in Abuja said his mission is to transform, “Nigeria’s economy from a poor 510 billion dollar economy to a 4 trillion dollar economy within 10 years, the reduction in poverty and the restoration of peace, unity and stability in Nigeria, a country that the ruling party has badly mismanaged.

“I am therefore better placed to bring the country back together. I am most assured I can get the job done given my record of accomplishment I will restructure the economy from a dependent one to a self-reliant economy by investing in iron and steel, research and development and in other critical sectors.

“These critical sectors will include chemical and machine tools, so as to generate the production of capital goods, local capital and to bring in prosperity, through the needed multipliers. I will implement a New Economic Development Programme (NEDP) which will lead to the expansion of Nigeria’s Gross Domestic Product (GDP).

“Besides, the NEDP will also increase the Per Capital Income (PCI) of the average Nigerian to between 16,000 to18, 000 US dollars within ten years as well. This will make Nigeria to be at par with middle-income countries like Malaysia with whom we had comparable income level at independence.

“NEDP would target an estimated 2 trillion US dollars into infrastructure within ten years. It will also create jobs from manufacturing, industrialization and then link up industries with solid minerals and the agricultural sector.

“The agricultural sector will be integrated with the industrial and solid mineral sectors to create sustainable jobs for youths employment and it will also be accelerated through the promotion of innovation and the knowledge economy”, he stated.

Olawepo-Hashim lampooned the poor economic management strategy of the governing All Progressive Congress, APC which has led to greater poverty amongst Nigerians and regretted that APC’s woeful failure has put 88 million Nigerians into acute poverty.

According to him, Nigerians are getting poorer because of the woeful economic management strategy or lack of strategy of the APC government, saying, though Nigeria was not a prosperous economy when President Buhari took over, Nigerian economy has now gone from bad to worse.

The PT Presidential Candidate stressed that the recent revelation by the Brooklyn Institute that 88 million Nigerians now live under acute poverty is disappointing, especially that a new 1 million more Nigerians moved into the poverty bracket within the last four months.

He vowed to cut down acute poverty by half in the country within five years if elected as President and Commander – in – Chief and then set the nation’s economy on the path of modernization as well as all round development.

Tags: ,

by JAMES KWEN, Abuja

November 6, 2018 | 12:07 am
  |     |     |   Start Conversation

Big Read |  

Analysis

Blockchain technology is disrupting payment processes in the agricultural sector

Blockchain technology is a decentralized digital ledger that keeps immutable records of transactions. It maintains a network of computers working...



BRIU

Banking App

Newsletter Market Intelligence