KadInvest 7.0: Tinubu Targets Double-digit Economic Growth, Financial Autonomy for Judiciary

The All Progressives Congress Presidential Candidate, Asiwaju Bola Ahmed Tinubu, has promised to build a vibrant economy that will achieve a double-digit growth if he becomes Nigeria’s president.

Tinubu said this in his speech at the 7th edition of Kaduna Economic and Investment Summit (KadInvest 7.0) on Saturday in Kaduna.

The APC presidential flagbearer hailed Kaduna State Governor Nasir el-Rufai for raising the bar in attracting investments to the state the same way he did in Lagos over 20 years ago.

“It is a great honour for me to be invited to give a speech on this occasion and it was a great pleasure listening to Governor Nasir El-Rufa’i as he shared with us the vision of how Kaduna State will attract and sustain investments.

“I would like to congratulate Kaduna State on this special occasion of the 7th edition of Kaduna Economic and Investment Summit (KadInvest 7.0). The theme for this year – Building a Resilient Economy – is very timely and appropriate. In a period of uncertainty in the global economy, it is important that we pursue a path of economic independence and insulation from global headwinds.

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“I am particularly happy to be in an economic summit such as this. It reminds me of when we initiated Ehingbeti Lagos Economic Summit more than 20 years ago in Lagos State. Through the summit, Lagos State has been able to deliver landmark developmental projects in power generation, critical road infrastructure, street lightning, and clean energy initiatives, among others.

“Therefore, I am sure that under the able leadership of Your Excellency, Governor Nasir Ahmad El-Rufa’I, the leadership of the KADIPA, and subsequent administrations, Kaduna State will successfully collaborate with the private sector to usher in the investments in the priority sectors of technology, agriculture, manufacturing, infrastructure and solid minerals. These investments will in turn drive rapid economic growth and prosperity, providing jobs and opportunities for the good people of Kaduna State,” Tinubu said.

On the role of the private sector in the country’s economic development, Tinubu praised President Muhammadu Buhari for giving maximum support to them to flourish.

According to him, laws put in place by the Buhari administration helped to improve the ease of doing business in the country.

He said if elected, his administration will build on this, making it better for the private sector to excel.

“A vibrant private sector is a prerequisite for a functional state, playing a critical role in the mobilisation of capital, expertise and innovation for the creation of economic opportunities and employment. This is why it is important for the government to give maximum support and incentives to the private sector.

“In this light, President Muhammadu Buhari’s administration introduced a number of measures targeted at promoting private enterprises and businesses including the Repeal and Re-Enactment of the Companies & Allied Matters Act (CAMA), 2020, the passage of the Finance Act 2021, as well as the implementation of over 100 initiatives to improve ease of doing business in Nigeria.

“My desire is that the next administration, under my leadership, will continue to drive forward and accelerate on the progress made thus far, taking bold steps and initiatives to encourage investments in new areas typically considered risky, and leading the way by providing the enabling environment to nurture our innate entrepreneurial spirit.

“It is essential that our nation continues to champion the rule of law and sanctity of contracts, for these are the pre- requisites for creating a business-friendly economic environment.

“Whilst there must be active engagement between all the arms of government for the rule of law to prevail, it is critical for the judiciary to retain its autonomy and independence.

“Therefore, under my stewardship, the federal government will build on the efforts of the current administration to review, amend and/or enact the relevant laws that will engender the rule of law.

“My administration would ensure that the judiciary has true financial and administrative autonomy and strong disciplinary and integrity monitoring mechanisms,” Tinubu added.

“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.

“We will champion an efficient government that will eliminate revenue and expense leakages across all federal government areas, leveraging technology, which will be increasingly embedded into government operations.

“In oil & gas, we will prioritise gas distribution and availability to power our industries.

“In agriculture, we will provide incentives for investments, machinery and equipment, expand and empower commodity boards, enhance our strategic grains reserves, encourage the formation of farm cooperatives and expand the scope and depth of access to finance for our farmers.

“In housing, we will introduce policies that will make it easier to transfer title and carry out transactions on landed properties. We will work with the private sector to significantly expand mortgage financing and we will provide credits and incentives to encourage real estate developers.

“We will collaborate with key technology partners to develop policies that promote the use and integration of technology across other sectors within the nation. We will work to accelerate the work that is being done with the private sector to train our youth and promote innovation through sponsored incubator hubs and science technology parks,” he assured.

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