The country has been told lies for far too long and ADC will stop this. Nigeria's economic woes, starts and ends with the fraud called fuel importation. How? You may ask. Fuel importation accounts for $1.5Billion monthly demand/pressure on the Naira. This leads to high exchange rate and rather than fix the problem of fuel importation, our economic handlers are busy burying their heads in the sand and employing 'work avoidance mechanisms' through their various failed economic policies.

The ADC Solution: Our population of 180 million people is one of our biggest resource and far larger than oil and gas, mineral deposits and others put together. The ADC immediately upon being sworn in will create a policy that will allow the private sector, especially illegal refineries (who must be mandated to reform) to open up 500 modular refineries of 2000 bpd capacity. This translates to 45million litres of petrol alone, 23million litres of diesel, 10 million litres of kerosene for Aviation and Domestic use along side, asphalt, liquified petroleum and other allied products all locally produced as illustrated in the diagram below, thereby creating new wealth and growing the domestic economy.

The current mismanagement of the economy of this country has seen her wobbling as if overwhelmed by disingenuous policy choices and options. While most of the indicators such as GDP growth and per capital income indicate that the economy is moving forward, the condition on the streets tells a different story.

For, there is still widespread poverty and hunger in the land while the unemployment queue is getting longer by the day. Certainly, the performance of the economy is far below the level required for it to make positive impacts on the lives of the people especially in respect of purchasing power, standard of living and general well-being. Therefore, there need to take the following far reaching measures listed below:

Liberalize more sectors of the economy and support the private sector to drive economic growth and create job opportunities;

Target a minimum 7 percent annual economic growth rate:

Grow the economy by implementing an export driven development plan in the non-oil sector, tie economic incentives to export performance, and create competition and not pick winners or losers;

Pursue a flexible exchange rate system with a maximum of 10 percent difference between official, interbank and parallel rates;

Mobilize the entrepreneurship drive of young Nigerians;

Streamline business regulations and create friendly operating environment;

Partner with the private sector to bridge the infrastructural gap in the country;

Reform the Land Use Act to unlock trapped capital for economic growth;

Maximize agricultural output by modernizing agricultural practices, making farmers to take advantage of improved inputs and by backing up these with extension services;

Wage war against poverty by ensuring single digit food-price inflation; and

Review Nigeria’s trade policy and importantly, adjust tariffs to make smuggling unattractive while also encouraging local production

In the specific case of the BUDGET, ADC will:

• Plan expenditure within a realistic revenue framework.
• Accelerate efforts to expand and diversify the tax base by making tax payment easy and trackable. So easy with technology, that the penalty for default will be very high. Same will also apply to other forms of payment to government for obtaining documents like drivers license, international passports, tax clearances with NIPOST re-engineered to handle delivery to doorsteps.
• Reduce the deficit and bring non-debt recurrent expenditure under control;
• Put forward a debt management plan to avert any debt crisis and with the main aim of reducing annual debt servicing cost to less than 30 percent of government revenue in 4 years; and
• Prioritize investments in infrastructure, education and health.