My support for PO is mainly from an economic growth potential than any primordial sentiment.
Nigeria is BROKE & by extension 89million Nigerians are ‘very’ poor while 53millions are “on God”.
So how does PO holds the 🗝️ to unlock wealth?
Pls walk with me
To start with, let’s explore the strategy the two APC & PDP candidate intends using to generate the much needed revenue for the country;
1.) BAT – His strategy is simple, more LOANS & TAXES.
2.) Atiku – His strategy is equally simple; more LOANS & PRIVATIZATION.
Make no mistake, their strategies arent bad. Its conventional for countries to take up loans, increase tax net or sell off assets that are poorly managed
However, i believe this is not the best for us right now.
Looking at our current realities, these strategies are ephemera
So let’s look at Peter Obi’s trifecta strategy to generating revenue aside tax;
1.) Cut down on cost of governance
2.) Loans
3.) Foreign Direct Investment
The first is pretty straight forward.
PO did that as a governor & has constantly being speaking about this.
Loans? Yes loan!
The difference however is that unlike what APC has been doing, PO will borrow for INVESTMENTS that generates WEALTH.
With a current public debt of 41.6 trillion naira, Nigerians shouldn’t be this poor. Never!!!
My focus, will be on the third strategy.
Our Foreign Direct Investment (FDI) in 2021 was estimated at 698.8 million USD. The worst since 1999.
In contrast to our FDI, is our Diaspora Remittance (DR). In 2021, 19.2 billion USD was sent home
So while others focus only on gains from export, PO will leverage on DR
So how will PO unlock DR to boost our economy?
The 19.2 billion USD DR however had little impact on our economy because it’s money sent home by Nigerians to solve “welfare economics” as @olakunlesoriyan called it during @theplatformng earlier in the year.
Welfare Economics is money for basic needs like; clothing, food, rent etc
Now, this is where it becomes interesting, it’s estimated that this remittance is roughly 5% of the income of Nigerians in the diaspora
In other words, about 95% is still sitting dock in the host country.
So how can we make Nigerians in the diaspora repatriate an EXTRA 15% of their income – 57.6 billion USD – home (aside the 5% already being sent) which will be used to fund investments in Nigeria that create wealth?
The answer is SOCIAL CAPITAL TRUST!
Without a doubt, Social Capital Trust is what PO has in abundance.
This is one thing BATified & Atikulated wish they have. It’s something money can’t buy.
I find it so laughable that anyone will think PO’s current trip to Europe , Canada & USA is to beg for votes.
Billions have been spent so far by Nigerians for his campaign just cos they trust him
So Nigeria can solve her current’s economic woes through the social capital trust PO has, which can help us generate over 57 billion USD (equity or debt) from diaspora investment to Nigeria
Permit me to end by saying;
Nigeria need Peter Obi more than He needs Nigeria.
So tell everyone you know who is bothered about the future of Nigeria, to vote Peter Obi.
God bless
Written by Ayodeji Oyewumi
