The former Nigerian vice president made the disclosure in a statement seen by PREMIUM TIMES in reaction to Friday's downgrade of Nigerian government's credit rating deeper into junk by the global bond credit agency,
Last week, the global ratings agency lowered
The latest rating also reflects the Nigerian government's long-term foreign-currency and local-currency issuer ratings as well as its foreign currency senior unsecured debt ratings. The firm equally cut the country's foreign currency senior unsecured MTN program rating to (P)Caa1 from (P)B3.
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"It also notes the government's inability to curtail its addiction to deficit financing and its appetite for more funds from the
He expressed reservation about the capacity of the present administration to generate and enforce ingenious ideas to solve various national challenges and help the government to deliver on its mandate.
"If given the opportunity to lead the country, I will act differently and change the economic direction of
He has stated his ambition to halt fiscal support to moribund state-owned enterprises and initiate moves to better spending efficiency by way of steady cut in recurrent expenditure.
Evaluating government's procurement processes with a view to curbing leakages and guaranteeing value-for-money will be crucial to his government, he said.
The PDP candidate also vowed to prioritise non-debt financing through promotion of an infrastructure development fund to be led by the private sector for funding critical infrastructural projects
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