Adebayo promises to clear mounting debts in three years
Emmanuel Alfred
The Presidential Candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo has said that his administration has mapped out plans to clear the seventy-seven trillion Naira debt that the incumbent has plumged the country into.
Adebayo said Nigerians should not be worried about the evidence of failure by the President Muhammadu Buhari administration that hired unfit people to handle the economy particularly the Central Bank of Nigeria which has led to mounting debts instead of managing the economy.
Adebayo who spoke exclusively to Tribune Online said, the cumulative debt of N77 trillion Naira would be paid off in three budget circles, by his administration while Nigerians would have the full benefit of good governance which would fully activate sections of the Nigerian constitution that deals on welfare.
He said he does not see liability in Nigeria as he prepares to activate the various assets of the nation to turn around the grim situation to one, of international envy.
According to him, the 220 million population Nigerian citizens remained an asset that can be harnessed by creating jobs with living wages that could be taxed to pay up the debts.
He said that conversion of the land assets to various agricultural production would also harvest more taxable revenue to boost and address critical needs of the economy.
Adebayo also said that he decided to contest for the Presidency of Nigeria because of the myriad of challenges facing Nigeria, which in his view, are no challenge at all given the huge assets which abound in the country.
“When you have a debt profile that is put at N77 trillion, you are looking at the death side, what about the asset side?
“When I take my oath of office I am not just inheriting the debt, I am inheriting 220 million people. I am inheriting entrepreneurs. Nigerians are so lively highly energetic and already to work. I am inheriting the largest gas reserve. I am inheriting a vast agricultural land.
“I mean everything, all other things, solid minerals and all other assets. so the debt is so small when compared to the assets that we have. So, what I will do is, looking at structure of our debt
“If I push our revenue up by 32 % we will be fine but the window of pushing our revenue up is about 300 percents. And if I push down the wastage and the corruption by three quarters 75% with some saving pockets here and there. And do some mop up. I think that Nigerians would not even remember that we have debt profile at all.
We will retire the debts within three budget, the debt will be insignificant and the people will get employment, if I get 30 million jobs added to the workforce. The taxation on pay as you earn alone, will wipe this debt off.
“If I get agriculture productivity in four belts in the country, lower Kebbi upper Niger, in southern Kaduna plateau, axis, if I get agriculture in Oke Ogun. Part of south west Nigeria and do Agriculture in Benue that will significantly deal with the problem.
