The presidential candidate of Peoples Democratic Party (PDP), Atiku Abubakar, said on Monday he would set off sound economic policies that would see no fewer than 50 million Nigerians elevated out of poverty within two years.

Mr Abubakar, former vice president from 1999 to 2007, said his policies would focus on creating job opportunities that would result in vast wealth creation in Africa’s largest economy and most populous country.

“These investments will create a minimum of 2.5 million jobs annually and lift at least 50 million people from poverty in the first two years,” Mr Abubakar said during a social media event he used to kick-off his 2019 campaign and launch his manifesto.

The resulting effect of the investments would “double” Nigeria’s gross domestic to “N900 billion” by 2025, Mr Abubakar said.

The plan is one of fundamental issues that form a grand document Mr Abubakar proposed to restructure the country.

But economists are skeptical about whether such a quarter of the country’s estimated 200 million people could be taken out of poverty within two years, especially in country with acute infrastructure and manufacturing deficit amidst low crude earnings.

“There is a big difference between being lifted out of poverty and achieving prosperity,” said economist Mohammed Al-Salafi. “Providing shelter and food does not achieve prosperity.”

Mr Abubakar said the 2.5 million jobs he planned to create would help engender upward mobility for the country’s citizens, which would in turn guarantee improved security.

The former vice president has previously said he would privatise government asset that are gulping funds from the federal treasury or those not performing optimally. He had already identified the Nigerian National Petroleum Corporation (NNPC) as one of his targeted agencies.

Mr Al-Salafi said Mr Abubakar’s announcement sounds too ambitious considering Nigeria’s current state.



“If he says creating 2.5 million jobs would lift 50 million people out of poverty, that is almost impossible to achieve given that Nigeria’s average household is about five or six persons,” Mr Al-Salafi said. “So we could expect to see about 15 million people who would benefit from that policy, assuming it comes to fruition.”

The economist said Mr Abubakar’s plan to create intervention funds was short on specifics.

“We need to know whether the money is going towards small and medium-scale businesses or innovations,” he said. “SMEs do not necessarily create jobs as much as you would expect with innovations.”

“From evidence and research, the SME market is not so viable. But innovations create new markets,” he emphasised, clarifying that small businesses perform better in places like the United States because their economies have already attained maturity and moved towards services.

Mr Al-Salafi said Mr Abubakar did not say how he would address acute infrastructure deficit and moribund manufacturing sector, a gap he said seems to have left President Muhammadu Buhari as the only one with a roadmap on how to address manufacturing.

“President Buhari’s policies seem to be better in this regard because he has been pushing for some form of protection for improved local manufacturing,” he said. “The East Asian countries that have been able to achieve seven to eight percent growth have focused on manufacturing.”

Still, the expert said Mr Abubakar’s silence on manufacturing should not be immediately taken to mean he does not have a plan about it or would not advance existing government plans if elected.

“The PDP pushed the automotive policy around 2013 or so, it could be expected that Mr Abubakar would focus on that because it is one of the biggest ways to generate wealth and employment in any country,” Mr Al-Salafi said.

Mr Abubakar’s campaign for 2019 is expected to take him across the country, during which experts hope he would better communicate some of his position

my vote is for Atiku, this man has the capacity to deliver. his manifesto is fascinating, he's brainny, he is experienced, and above all, he admitted he made a mistake before and ready to make amends.

#backtodaura.
#buharihasfailed.

Where's my beautiful padra? Hope your PVC is ready? Atiku it is baby.

Ok

JasonScoolari:
Where's my beautiful padra? Hope your PVC is ready? Atiku it is baby.

Hey Jason baby, good evening. We are very well Aticulated my dear
How are you doing?

Under the watch of Buhari Nigeria became the world headquarters for poverty.
A vote for Buhari will be a vote for the next level of poverty.

very educated man with several genuine certificates

Bla bla bla
At the rate Atiku is going, he can sacrifice one of his children if that's what is required to win elections.

magoo10:
Under the watch of Buhari Nigeria became the world headquarters for poverty.
A vote for Buhari will be a vote for the next level of poverty.

Lazy people be waiting for the President of the Federal Republic to put food in your mouth,you no get papa or state Governor?Mumude someone you don’t support you expect to make life glorious for you?be waiting.

blacknp:
Lazy people be waiting for the President of the Federal Republic to put food in your mouth,you no get papa or state Governor?Mumude someone you don’t support you expect to make life glorious for you?be waiting.

All I see is lifelessness in all your statement.
It doesn't explain why under buharis watch Nigeria have become the head quarters of extreme poverty overtaking India.

Only people like you will expect a dullard who have never had any intellectual input but boast of only 150 unproductive cows for 20years to put food on your table.
There is no hope in Buhari
Lifelessness have nothing to do with being lively

He did same in 1984 he has done it again
History never lies

Atiku pleas lie all you can.... I will still vote for you

ATIKU baba scammer 1 of Adamawa land. Adamawa state where you came from how many millions people did you lift from poverty?

BafanaBafana:
Bla bla bla
At the rate Atiku is going, he can sacrifice one of his children if that's what is required to win elections.

Really?... Please tell us how you discovered that, mbok.

this Atiku and Bubu should just shut it, you cant lift 50m out of poverty in 2yrs, no be your fault, na govt money you use start biz, so you dont know what put them in poverty, fyi, everything is not about employ employ, but giving jobs to capable hands, creating good environment which includes tax, road, power, health, education and justice system, when any of these is lacking, there is an economic problem that puts someone into poverty group.

Ole !!!

Padra:

Hey Jason baby, good evening. We are very well Aticulated my dear
How are you doing?

Doing well my lady. Shey na like this we go dey?

The economist Al Saalafi is right about 50m people out of poverty within 2 years is unreasonably ambitious.

However, his belief that protectionism is the way forward for the advancement of the manufacturing sector is wrong.

The Economist magazine rightly stated that protection has failed to industrialise the country.

Low corporate taxes alone as promised by Atiku will boost investment in manufacturing. I'm surprised

The country needs to focus on manufacturing for exports and also in areas where it has comparative advantage.

Where's the link

richidinho:
very educated man with several genuine certificates

Very educated man indeed.. list those genuine certificates please .
A 3 weeks diploma in law is what this clown is terming as very educated

grandstar:
The economist Al Saalafi is right about 50m people out of poverty within 2 years is unreasonably ambitious.

However, his belief that protectionism is the way forward for the advancement of the manufacturing sector is wrong.

The Economist magazine rightly stated that protection has failed to industrialise the country.

Low corporate taxes alone as promised by Atiku will boost investment in manufacturing. I'm surprised

The country needs to focus on manufacturing for exports and also in areas where it has comparative advantage.

First thing first is to refine our own fuel, and produce our own food which should be archived in few years with dangote rifinaries and with investments in the rice sector

This would reduce forex demand by over 40%

State governments need to set aside thousands of hectares where intending farmers like us can rent and farm with ease

Getting safe land has been scaring a lot of us from farming

So all in all I stick with buhari atiku is too unrealistic

Corrupt Atiku lies all the time. That document has "scammer" written all over it. Corrupt Atiku is too desperate for power.

I'm not surprised. After all, corrupt Atiku was part of an evil group that plundered this country for decades. These plunderers lost power a few years ago and now want it back to continue plundering from where they left off!

Where in the world do they get these numbers from?

Igbokid:

Very educated man indeed.. list those genuine certificates please .
A 3 months diploma in law is what this clown is terming as very educated

Tell us what Buhari has got to present other than diploma in poverty

JasonScoolari:
Doing well my lady. Shey na like this we go dey?

Atiku intends to lift 50million people out of poverty by creating 2.5million jobs in two years and I am wondering how this nonsense made sense to the people who put the Atiku plan document together.

Even the 2.5million jobs, how will they be created? Where are the details of the plan? The Atiku plan is a poorly thought out document that was put together to confuse Nigerians.

mrvitalis:


First thing first is to refine our own fuel, and produce our own food which should be archived in few years with dangote rifinaries and with investments in the rice sector

This would reduce forex demand by over 40%

State governments need to set aside thousands of hectares where intending farmers like us can rent and farm with ease

Getting safe land has been scaring a lot of us from farming

So all in all I stick with buhari atiku is too unrealistic

Thanks for your response.

You again repeat the same reforms of reducing imports and being self reliant in food production.

Imports have never been the problem. Truth be told, Nigeria's imports are small. Even small countries like Switzerland import many times Nigeria.

The best way to manage imports is a floating exchange rate

grandstar:


Thanks for your response.

You again repeat the same reforms of reducing imports and being self reliant in food production.

Imports have never been the problem. Truth be told, Nigeria's imports are small. Even small countries like Switzerland import many times Nigeria.

The best way to manage imports is a floating exchange rate

Are import relative to our foreign exchange earnings is huge...

The truth is we don't have the comparative advantage not to manufacture finished goods for now... It's a slow and steady process

After fuel and food, the next should be cloths and shoes,.... Then we need to get our steal plants to work perfectly... Slowly we move to stop exporting raw materials and only export finished or semi finished goods

mrvitalis:


Are import relative to our foreign exchange earnings is huge...

The truth is we don't have the comparative advantage not to manufacture finished goods for now... It's a slow and steady process

After fuel and food, the next should be cloths and shoes,.... Then we need to get our steal plants to work perfectly... Slowly we move to stop exporting raw materials and only export finished or semi finished goods

Nigeria probably has foreign reserves can cover 16 months worth of imports. Economists say 4 months cover can suffice but lets be generous and make it 8 months! Nigeria has more than enough cover!

As for comparative advantage Nigeria has in many sectors but lacks investment in it. That is why there's an urgent need for foreign direc t investments as they are usually directed at areas the country has comparative advantage. Lending rates also have to crash to single digits to spur manufacturing from Nigerians

Only enemies of state and yoruba moslems are against Nigeria moving forward. Never again shall we allow a murder, jihadist and terrorist near out corridor of power.

grandstar:


Nigeria probably has foreign reserves can cover 16 months worth of imports. Economists say 4 months cover can suffice but lets be generous and make it 8 months! Nigeria has more than enough cover!

As for comparative advantage Nigeria has in many sectors but lacks investment in it. That is why there's an urgent need for foreign direc t investments as they are usually directed at areas the country has comparative advantage. Lending rates also have to crash to single digits to spur manufacturing from Nigerians

Which expert told u that?