Labour Party presidential candidate, Mr Peter Obi continued his consultative engagements with Nigerians in the Diaspora on Wednesday with a visit to the Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala.
Nigeria’s former Minister of Finance and Coordination Minister for the Economy reported on her verified Twitter handle that dwelled on Nigeria’s economic recovery and the role of trade.
The Labour Party presidential hopeful retweeted the post on his own verified handle.
Obi’s campaign for the 2023 presidential elections has centred on turning Nigeria’s economic fortunes around by making the country a producing economy instead of a consuming one.
He also canvassed for investment in intangible assets such as education and power which, according to him, are critical for an economic renaissance.
Obi, who is presently touring North America and Europe to sell his candidacy to Nigerians in the Diaspora, said in one of his engagements that the Nigeria’s challenges are surmountable with the right approach.
Admitting that Nigeria’s situation was critical, the presidential candidate said it was not hopeless as things could still change for the better.
He said he would create an enabling environment for the country’s startups to thrive, create access to easy funding and enforce the legal framework protecting foreign investors and their indigenous partners.
In a series of tweets, he wrote: “We will enforce the legal framework protecting foreign investors and their indigenous partners. This is the only way to improve our business environment and temper capital flight.
“We will stop borrowing for consumption. All loans must be invested in regenerative projects. Inflation is a factor of spending on goods and services outstripping production. Since we have not resolved the minimum wage issue, we will not use wage and price controls to fight inflation. Rather, we will pursue a contractionary monetary policy. We will mop up excess liquidity by reducing the money supply within an economy”.
