The presidential candidate of the Labour Party (LP), Mr Peter Obi, has said that he would boost productivity by growing the national economy quantitatively and qualitatively by devising programmes for re-skilling youths to achieve greater synergy in the Science, Technology, Engineering, and Mathematics (STEM) field and create a venture capital-like fund for young entrepreneurs.
Obi released his manifesto Sunday morning, titled “Our Pact with Nigerians: Creating a New Nigeria”.
He also stated that he would re-design incentives for present and prospective investors in the industrial sector, coupled with an apprenticeship system to provide a ready-made source of technical expertise in the relevant areas.
The Labour Party presidential candidate said one of the most economic priorities in his manifesto is shifting emphasis from consumption to production by running a production-centered economy that is driven by an agrarian revolution and export-oriented industrialization.
He said that in consideration of Nigeria’s current ranking as the least competitive economy in Africa with very low total factor productivity (TFP) and export competitiveness index (ECI), he will, with all sense of urgency, aggressively pursue policies and programmes that enhance the productivity and competitiveness of all the sectors of the Nigerian economy.
“We will grow the national economy quantitatively and qualitatively by devising programmes for re-skilling our youths to achieve a greater synergy between their skill sets and our factor endowments, create a mandatory national certification for blue-collar artisans, strengthen some of the existing tertiary schools of science and engineering to train the next generation of experts in the Science, Technology, Engineering and Mathematics (STEM) field, and create a venture capital-like fund for young entrepreneurs.
“To ensure that the country’s economic production is equitably geared towards the net-zero emissions drive, we shall re-design incentives for present and prospective investors in the industrial sector, coupled with an apprenticeship system, to provide a ready-made source of technical expertise in the relevant areas,” he said.
He also said he would apply entrepreneurial governance to dismantle the impediments to free trade and ease of doing business.
“We will strive towards a zero-based national budget to overcome the mindset and reality of past non-performing national budgets that are routinely hampered by budgetary deficit overhang.
“We will pursue an aggressive technology-driven public sector financial management system anchored on a reformed, well-trained, and motivated civil service” he added,