The Social Democratic Party (SDP) Presidential Candidate, Prince Adewole Adebayo, has stated that his administration has plans in place to clear the country’s 77 trillion Naira debt, which the incumbent has incurred.
Adebayo stated that Nigerians should not be concerned about evidence of failure by the President Muhammadu Buhari administration, which hired unqualified people to manage the economy, particularly the Central Bank of Nigeria, resulting in mounting debts rather than managing the economy.
Adebayo, in an exclusive interview with Tribune Online, stated that his administration’s cumulative debt of N77 trillion Naira would be paid off in three budget circles, while Nigerians would reap the full benefits of good governance, which would fully activate sections of the Nigerian constitution that are currently dormant.
He stated that he sees no liability in Nigeria as he prepares to activate the country’s various assets in order to transform the country’s dire situation into one of international envy.
According to him, Nigeria’s 220 million citizens are an asset that can be leveraged by creating jobs with living wages that can be taxed to pay off debts.
He stated that converting land assets to various agricultural production would generate more taxable revenue to help boost and address the economy’s critical needs.
Adebayo also stated that he decided to run for President of Nigeria due to the plethora of challenges confronting Nigeria, which he sees as no challenge at all given the vast assets that abound.
He said, “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.”