Alhaji Atiku Abubakar ,the PDP presidential candidate today lamented last week low rating of the Nigerian economy by Moody,’s Investors Service.
Atiku said given the poor handling of the economy by the Buhari administration, the credit rating from B to C was not a surprise.
But the PDP standard bearer said hope was not lost.
He therefore put forward five reasons to get out of the woods.
Atiku made these remarks today via his verified Twitter account.
He said if elected, he would undertake immediate review of government spending to stop all leakages.
He proposed the stoppage of support to all ailing state owned enterprises.
Atiku tweeted thus:’Late last week, Moody’s Investors Service (The Moody’s) sadly, but not unexpectedly, downgraded the Nigerian Government’s Credit Rating from B3 to Caa1. This is a very significant downgrade.
Among others, I will undertake an immediate review of government spending with a view to eliminating all leakages arising from subsidy payments.
Second, I will stop all fiscal support to ailing and under performing state owned enterprises.
Third, I will take steps to improve spending efficiency by gradual reduction of government recurrent expenditures.
Fourth, I will undertake a review of government procurement processes to ensure value for money and eliminate all leakages.
Finally, I will focus on non-debt financing by promoting a private sector-led infrastructure Development Fund for the financing and delivery of key infrastructure projects.’
