Peter Obi, the Labour Party’s presidential candidate, stated that he is visiting the markets as part of his campaign because functional markets are the roots of transforming Nigeria from a consumption to a production nation.
On Monday evening, Obi disclosed this information during a one-on-one interview on Channels TV.
Speaking about his campaign’s economic ideas and implementation strategies, the LP presidential candidate stated, “My reason for going to markets is simple.
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“I have always argued that we must be able to transition from consumption to production; however, you cannot discuss this without a foundation in functional markets.
“I must interact with merchants and businesspeople, as well as visit industrialists and farmers in order to learn about their problems and assure them of better times to come.
“Micro, Small, and Medium-Sized Enterprises are the largest employer of labour and the most productive sector of any economy,” the Obi said in reference to his economic plan if he were to be elected president.
Obi further stated that China, India, and Indonesia all operate under the same economic system.
In Indonesia, over 90 percent of businesses are in this sector in terms of employment, and they create over 70 percent of all jobs.
In China, over 60 percent of businesses are in this sector, and Vietnam has a similar situation. These are countries that are doing extremely well today and are very productive and export-oriented.
Continuing, Obi said, “I believe you should study and listen to this session because it will propel the goals we set out to achieve.
I believe that the commitment required to lift people out of poverty is immeasurable.
“What Nigerian governments have not done in the past is consider where they have been and where they stand.
“In 2012, unemployment was approximately 10 to 12 percent, whereas it is now approximately 33 percent.
“Our poverty was 55 million dollars.” The current poverty rate is 33%, or approximately 95 million people, and multidimensional poverty has increased to 133 million.
These are issues that a new government should address.
He added that the government’s physical support is what allows these micro Small businesses to regain confidence.
Obi emphasized, “We will address the issue of life and property security by securing the country first.”
Thus, we will be able to allow our farmers to return to agriculture and increase agricultural output.
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