Privatise NNPC, raise GDP to $900bn, cut taxes… inside Atiku’s policy document

Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has plans to embark on partial privatisation of the Nigerian National Petroleum Corporation (NNPC), TheCable can report.

The former vice-president also plans to sell all four national refineries, and cut corporate income tax to be one of the lowest in Africa.

According to the Atiku Abubakar policy document seen by TheCable, the 71-year-old plans to create three million jobs per year.

The policy document was put together with a major delivery timeline of 2019 to 2025.

Atiku also plans to raise Nigeria’s gross domestic product (GDP) by almost 90 percent to $900 billion by 2025.

“The State’s critical policy priority is to build a broadbased, dynamic and competitive economy with a GDP of US$900 billion by 2025,” the policy document read.

The former customs boss also proposes to raise foreign direct investment (FDI) to 2.5 percent of GDP.

“Working towards achieving the LOWEST corporate income tax rate in Africa; Strengthening the credit guarantee initiatives of Infra-Credit by substantially increasing its capital base; Lower transaction costs: capital
gains taxes etc.”

Other items on Atiku’s plan include, building 5,000 kilometres of roads, and 5,000 kilometres of modern railway.

The plan is built on four cardinal points: jobs, infrastructure, poverty eradication, and human capital development.

The Atiku policy document also seeks to “improve spending efficiency of the federal government and drastically reduce the share of recurrent revenue in the budget from 70% to 35% by 2025”.

According wthe document, Atiku also seeks to implement the petroleum industry bill, ensure Nigeria refines over one million barrels of oil per day, and generate 20,000 megawatts of power by 2025.

Via a combination of policies, the former vice-president also seeks to lift 50 million Nigerians out of poverty, by 2025.

“Poverty does not simply have one solution; rather it requires the concerted application of many solutions,” Atiku said.

“Nigeria has vast natural resources, but our challenge remains harnessing these resources for the greatest good”.