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The economic plans of the presidential candidate of the All
Nigeria Peoples Party (ANPP), Ibrahim Shekarau, for Nigeria, as stated in the
party’s manifesto, are clear and developmental initiatives, but while some
finance analysts believe that those plans are achievable, others say they are
unrealistic and are mere campaign proposals.

According to ANPP’s manifesto, Mr. Shekarau, who is the current
governor of Kano State, will provide for Nigerians social and infrastructural
development through “good and well-managed economic policy” which will lead to
a developed society.

The ANPP said it will manage with enhanced transparency the
foreign exchange earning potentials such as petroleum, solid minerals and other
capital yielding products in other sectors, adding that commercialisation and
privatisation of mining operations will be encouraged while joint venture
arrangements between local and foreign investors will be vigorously pursued.
“Proper economic management includes giving priority attention to economic
resources development, diversification and protection,” it said.

Akinbade Ibisiola, a finance analyst at Resource Cap Company, a
fund management firm, said although he really did not know much about Mr.
Shekarau before the recent debate in which the candidate participated, “but he
won my heart that day. He spoke confidently and eloquently on his plans and
appeared like a man of his words who is prepared to rule this country with some
level of knowledge of the system. I think, if given a chance, he can give the
kind of leadership Nigeria needs and improve on the sorry-state of the
economy.”

Meanwhile, David Amaechi, a market analyst and an executive
member of the Shareholders Association of Nigeria, said Mr. Shekarau’s plans
for the economy is not “convincing.” He added that “With the current state of
development in Kano, the state he (Mr. Shekarau) led since 2003, it is obvious
that he has little to offer Nigeria as a whole. You cannot compare what is
happening in states like Lagos and Cross River with Kano in terms of
development,” he said.

However, Magret Asinobi, a jewellery dealer, who travels to Kano
occasionally for businesses, said Mr. Shekarau has done a lot for the people of
the state as against what some people believe. “He has really tried to reduce
poverty there and made going to school attractive for his people; may be
because he was once a teacher,” Ms. Asinobi said, adding that Mr. Shekarau has
also improved the level of social reorientation and security in Kano.

Energy sector

In the mean time, the ANPP said the chaotic state of the energy
sector has forced the national economic growth into a state of inertia thereby
stalling productivity and creating an unprecedented state of unemployment. The
party believes that the development of the industrial sector is the only answer
to the high cost of essential goods even in areas of food, medicine and
textile. “Conscious that a functional energy sector is the foundation of
sustainable development of our economy, ANPP in government would prioritise and
pursue a very aggressive result-oriented energy policy with a view to improving
upon the current state of electricity supply within six months of inception,
and achieving at least seventy-five percent steady power supply within two
years of inception,” the party said.

The ANPP also said it will wage a total war on corruption and
indiscipline through internal scrutiny of elected and appointed political
officers in order to lead by example. It added that it will also launch a war
against hunger and close monitoring of the application of Agricultural credits
and subsidies. The party, however, failed to give strategies on how it intend
to achieve housing issues as it only said it “will strive to provide a housing
policy that is common man friendly.” Beyond these promises, analysts say Mr.
Shekarau and his party have not adequately provided enough facts and figures as
to how to achieve the goals stated in the manifesto.

TOMORROW: Jonathan’s
economic agenda