The presidential candidate of the Labour Party, Peter Obi, has said that his reason for going to the markets as part of his campaign is his emphasis to return Nigeria from a consumption to a production country because functional markets are the roots.
Obi disclosed this during a one-on-one interview on Channels TV on Monday night.
The LP presidential candidate speaking on the economic ideas and implementation strategies of his campaign noted, “My reason for going to markets is simple.
“I have always said we need to be able to go back from consumption to production, you can’t talk about doing that without roots to the functional markets.
“I need to interact with traders and business people, and visit industrialists, agriculturalists hearing what is their problem and be able to promise them of better times to come.
Speaking on his plan agenda on the economy should he be elected as president for these small-scale businesses, the LP’s presidential candidate remarked, “the greatest employer of labour, the greatest productive area in any economy is Micro, Small and Medium Enterprises. From China to India and Indonesia, they are all driven by the same economy.
Giving statistics on world working economies, the former Anambra governor pointed out that in a country like Indonesia, almost over 90 per cent of the businesses are in this sector in terms of employment, they are creating over 70 per cent of the employment, in China, over 60 per cent, a similar situation in Vietnam, these are countries that are doing very well today and a very productive and export-geared.
Going further, he stated, “I believe that you need to study and listen to this session because they will propel what we went to achieve. For me, the commitment to pull people out of poverty is immeasurable.
“What governments in Nigeria have not done in the past is to look at where they are coming and where they are standing.
“For example, in 2012, unemployment was about 10 to 12 per cent but today, it has risen to about 33 per cent.
“Our monetary poverty was 55 million. 33 per cent today is about 95 million, and of course, multi-dimensional poverty has increased to 133 million.
These are things that need to be addressed by a new government.
He added that it is the physical support of the government that makes it possible for these micro Small businesses mentioned to be able to have faith again.
He stressed, “We will ensure first that we deal with the issue of security of life and property by securing the country.
“That way, we will be able to let our farmers return to farming and increase agricultural production.