The presidential candidate of Peoples Democratic Party (PDP) Atiku Abubakar, said on Tuesday that Nigeria was currently being dressed in borrowed robes with the country’s worsening debt profile.
He said, if elected, he would improve Nigeria’s economy with a “warm handshake” for the private sector.
Nigeria’s current debt, local and foreign, stands at N41trillion, with the nation spending a greater chunk of its revenue to service debts.
Atiku said the ruling All Progressives Congress-led government has distorted the economy since 2015, adding that basic commodities are now beyond the reach of ordinary Nigerians.
Atiku who was the guest speaker at the the presidential economic agenda forum of the Lagos Chamber of Commerce and Industry (LCCI) said: “Nigeria is being dressed in borrowed robes.”
On his plans for the economy, Abubakar said he will pursue a “warm handshake policy for the private sector”.
He said: “We will ensure we give a warm handshake to the private sector. They are important for any sector or economy to succeed.
“I enjoy making people rich. I feel fulfilled when I make opportunities for others.”
Abubakar said the country’s economy was “bleak and our challenges daunting; no one should downplay the enormity of the tasks ahead.
‘’Indeed, I cannot think of a more daunting challenge than restoring confidence in the future of Nigeria as a dynamic economy and stable democracy.
“I have a good grasp of the challenges bedevilling Nigeria. I know the root causes of our problems. I know that many of these problems are self-inflicted and can be reversed if we are determined. And we are determined.
“I will not come unprepared. It is not in my character as a businessman or as a public officer to be caught off guard. My policy document contains the right policies that will be timely delivered.”
Atiku said Nigeria was “broke” and that the economy was “crawling rather than growing”.