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Tinubu Reverses Self On Promise To Grow GDP By 12%

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By Ukpe Philip

The presidential candidate of the All Progressives Congress has reversed himself on achieving double-digit GDP growth when elected as president in 2023.

Tinubu reversed himself on Monday while speaking to Chatham House in UK.

He had promised a 12 per cent GDP target while unveiling his action plan.

“My administration will build an efficient, fast-growing, and well-diversified emerging economy with a real GDP growth averaging 12 per cent annually for the next four years, translating into millions of new jobs during this period,” according to press statement signed by Bayo Onanuga, director of media and communication for the presidential aspirant’s campaign.

In October, Tinubu told his audience at the 7th edition of Kaduna Economic and Investment Summit (KadInvest 7.0) his administration will achieve double-digit economic growth if elected president.

“I will marshal a team of the most talented of Nigerians – men, women and youths – no matter their tribe and affiliations, to reset our nation on a path to achieve double-digit economic growth within a couple of years. We will do this through a coordinated set of policies in key sectors,” said Tinubu.

Also, he emphasised on the target during his town hall meeting with the Business Community and Organised Private Sector in Lagos.

“We must target double-digit GDP to begin to reduce the poverty rate and I am determined to accomplish that,” he said.

But speaking to Chatham House Tinubu however, said his government, if elected, will resolve the conflict between the fiscal and monetary policy.

“Budgeting will be based on the projected spending level needed to push the GDP above 7 per cent. We will reduce the unemployment rate so that we can double the economy in ten years,” he said.

Nigeria’s GDP has not grown beyond 6 per cent in years despite oil boom.

The economy grew by 6.6 per cent in Q1 2013; 6.81 per cent in Q 2013; 6.23 per cent in the third quarter of 2014, 5.94 per cent in Q4 2014, the highest recorded since 2013.

Since the Covid-19 pandemic when the country witnessed recession, Nigeria’s economy has not grown beyond 3.40 per cent in 2021.

Tinubu Reverses Self On Promise To Grow GDP By 12% is first published on The Whistler Newspaper

Source: The Whistler.