Thursday, July 3, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home Politics

TINUBU RELEASES 7-POINT AGENDA, PROPOSES TAX CREDIT, SUBSIDY FOR CRITICAL SECTORS

He equally recommended a national infrastructure plan, noting that roads, ports, bridges and railways need enhancing, and new ones need to be built

Newsroom Nigeria by Newsroom Nigeria
March 17, 2022
in Politics
Reading Time: 4 mins read
0
SHARES
Share on FacebookShare on Twitter

The National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, has proposed a seven-point agenda, which he said, would revive the country’s troubled economy and drastically reduce her dependence on Petro-Dollars.

Tinubu explained that the development of a national infrastructure plan; the return of commodity exchange boards and the promotion of government-backed housing programmes were important measures that could help to reposition the national economy.

Related posts

IGNORE ARMCHAIR CRITICS; YOUR RESULTS WILL SPEAK FOR YOU, PRESIDENT TINUBU TELLS GOVERNORS

May 2, 2025

Former Lagos PDP Guber Candidate, Jandor Pledges Support for TPI, Hails Tinubu, Ganduje

April 27, 2025

The proposals are contained in a recent lecture the APC leader delivered in Lagos, where he said the decline in oil prices had revealed the travesty of the country’s extant economic model. He proposed a national industrial policy fostering the development of strategic industries, which he said, could create jobs as well as spur sustainable economic growth.

He said: “We must realise that no populous nation has ever attained broadly-shared prosperity without first creating an industrial capacity that employs large numbers of people and manufactures a significant quantity of goods for domestic consumption or export.”

Tinubu noted that England, America and China had implemented policies to protect key industries, promote employment and encourage exports, explaining that these countries represented the past, present and immediate future of national economic achievement. “A strong common thread is their policies of buffering strategic industries in ways that allow for the expansion and growth of the overall economy. So, we must press forward with a national industrial policy fostering the development of strategic industries that create jobs as well as spur further economic growth. “Whether we decide to focus attention on steel, textiles, cars, machinery components, or other items, we must focus on manufacturing things that Nigerians and the rest of the world value and want to buy. We must partially reshape the market place to accomplish this,” Tinubu declared.

He also proposed the need for the federal government to develop a policy of tax credits, subsidies that insulate critical sectors from the negative impact of imports. He equally recommended a national infrastructure plan, noting that roads, ports, bridges and railways need enhancing, and new ones need to be built with the goal being to develop a coherently-planned and integrated infrastructural grid. The APC leader said: “A national economy cannot grow beyond the capacity of the infrastructure that serves it. Good infrastructure yields a prospering economy. Weak infrastructure relegates the economy to the poorhouse. The government must take the lead. “The focus on infrastructure has important corollary benefit.

Federal expenditure for needed infrastructural spending has empirically proven in every place and in every era to boost recessionary economies and provide employment when sorely needed. “Deficit spending in our own currency to advance this mission is neither a luxury nor a mistake. It is a fulcrum of and balanced and shared prosperity. We must overcome the economic, political and bureaucratic bottlenecks preventing us from achieving reliable electrical power,” he stated. He said lack of electricity was perhaps the single greatest impediment to the country’s economic advancement. The lack of power inflates costs, undercuts productivity, causing havoc to overall economic activity and job creation. Our economic situation is literally and figuratively in the dark. “The hurdles we face are not technical in nature. We must convince those political and economic factors currently impeding our quest for reliable power to step aside so that we may obtain this critical ingredient to economic vitality,” he pleaded

He further proposed a credit-based economy, stating that credit for business investment was too costly in Nigeria. “The long-term economic strength of the nation is dependent on how we deploy idle men, material and machines into productive endeavor. And this is highly dependent on the interest rate,” Tinubu said. He asked the Central Bank of Nigeria (CBN) to cure its affection for high-interest rates, arguing that lower rates were required for industrialists to borrow without fear that excessive costs of borrowing would consign them to irredeemable debts. “The normal profit rates in most business sectors cannot support the burden imposed by current interest rates. If our industrialists do not invest in more plants, equipment and jobs, the economy will stagnate. The banking system would have achieved its goal of low-interest rates at the greater costs of economic growth. “Consumer credit must be more accessible to the average person.

The prevailing norm is for a person to purchase high -priced items such as a car in one lump sum. This is oppressive. It defeats the average person and constrains transactions in real estate, vehicles and appliances that could vitalize the economy,” he noted. Tinubu said government-backed home mortgage system must be re-engineered, contending that mortgage loan agencies must be better funded and should liberalize their eligibility requirements so that more people could qualify for them. “They need to provide longer-term mortgages with manageable interest rates.

The government should provide the supporting guarantees to make such financing a reality. By sparking the effective demand for housing, the overall economy is enhanced. The construction sector and the industries allied to it will surge.” He argued that a workable credit system would reduce corruption, adding that the current lump-sum payment requirement tempted people towards misconduct. “They see no other way to secure such large sums. Their wages will not suffice. They must steal the money, beg for it or forego the purchase,” he said. According to him, having an accessible credit system that provides for periodic installment payments would place a purchase within the reach of people’s wages.

He said agriculture remained the backbone of the country and challenged the federal government to help common farmers by improving rural output and incomes, explaining that this could best be done through ensuring minimum prices for crops strategic to food security. Tinubu told his audience: “Though effective, this policy was shunned because it conflicted with the free market totems that we were asked to erect against our own interests. We must return to commodity exchange boards, which will allow farmers to secure good prices and hedge against loss. “An agricultural mortgage loan corporation should be inaugurated to further promote these goals.

The proposals stated above are largely within the province of the federal government. Focusing on these and other such things will keep the federal government sufficiently busy, Tinubu said.

(TSG)

ShareTweetSendShareShare
Previous Post

COMMOTION AS OBIANO, OJUKWU WIVES FIGHT ST SOLUDO’S INAUGURATION

Next Post

EFCC Arrests Church Founder on FBI Wanted List

Related Posts

Politics

IGNORE ARMCHAIR CRITICS; YOUR RESULTS WILL SPEAK FOR YOU, PRESIDENT TINUBU TELLS GOVERNORS

May 2, 2025
POLITICAL ARENA

Former Lagos PDP Guber Candidate, Jandor Pledges Support for TPI, Hails Tinubu, Ganduje

April 27, 2025
POLITICAL ARENA

Yoruba Groups Ask Tinubu, NSA to Avoid Looming Crisis in Niger Delta

April 22, 2025
News

LG Poll: Party Leaders Urge Obasa to Support Son’s Aspiration for Agege Chairmanship

April 22, 2025
Politics

Obasa Calls for Unity as Court Declares Removal Illegal, Unconstitutional

April 16, 2025
Politics

PRESIDENCY DISCLAIMS 2027 CAMPAIGN BILLBOARDS NATIONWIDE

April 13, 2025
Next Post

EFCC Arrests Church Founder on FBI Wanted List

RECOMMENDED NEWS

FIRST BANK BEGINS CORPORATE RESPONSIBILITY WEEK, “PROMOTE KINDNESS” ACROSS SEVEN COUNTRIES

3 years ago

FBI Hails Olukoyede’s Appointment as EFCC Chairman

2 years ago

EDO PDP CRISIS: WIKE LABELS OBASEKI A SERIAL BETRAYER

3 years ago

Seven Officers Injured, Vehicle Damaged as NDLEA Arrests Taraba Drug Kingpin

3 years ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • Ex-int’l Football Player, 4 Others Arrested Over 22.6kg Cocaine, Meth seized at Airport

    Ex-int’l Football Player, 4 Others Arrested Over 22.6kg Cocaine, Meth seized at Airport

    0 shares
    Share 0 Tweet 0
  • Viewpoint: Kola Abiola, Sule Lamido and Their June 12 Lies By Adewale Adeoye

    0 shares
    Share 0 Tweet 0
  • Presidency Clarifies President Tinubu State’s Visit to Saint Lucia

    0 shares
    Share 0 Tweet 0
  • TINUBU PROPOSES VISA WAIVERS FOR OECS OFFICIAL PASSPORT HOLDERS AS NIGERIA, SAINT LUCIA ESTABLISH DIPLOMATIC RELATIONS

    0 shares
    Share 0 Tweet 0
  • Viewpoint: Tinubu’s Reforms Fueling a New Wave of Subnational Development By Sunday Dare

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.