2011 presidency: Ribadu joins race

Former chairman of the Economic and Financial Crimes Commission, (EFCC) and presidential aspirant on the platform of the Action Congress of Nigeria, (ACN), Mallam Nuhu Ribadu, yesterday joined the rank of presidential aspirants who had carpeted President Goodluck Jonathan over his handling of the nation’s economy.

Making his declaration at the International Conference Centre, Abuja, Ribadu noted that the gains under the Olusegun Obasanjo administration in the area of debt servicing had been reversed under President Jonathan’s administration.
The ACN aspirant put Nigeria’s external debt figure at $32bilion dollars.

“Already, we are running a scandalous, shameful budget where over head and recurrent expenditure are at a staggering 75 percent of annual spendings, while the rest 25 percent disappear through notorious corruption.
Only two days ago, we got a report that our national debt, external and internal debt is over $32 billion. That was the figure before we worked as a team to clear it and got us that debt relief in 2005/2006. It was over $32 billion and we reduced it to nothing and practically there was no external debt! Now, we are back to nothing; we are back to $32 billion, internally and externally.

There is a problem; we need to do something about it, because the rampaging poverty in Nigeria is due to inefficient utilization of our abundant resources characterized by poor leadership, gross mismanagement, nepotism and corruption. Poverty reduction therefore, will be the underlining factor in addressing the challenges of the 21st century.”
The ACN presidential aspirant promised to redress the situation, if elected into office. “If you elect me as your next president, competence would be the hallmark in the area of policy formulation.

We shall put very capable individuals on board to ensure that Nigerian tax payers get value for their investment in governance. I will work and change things in a short period of time. Give me a chance, it will happen. Together, we shall give birth to a dynamic society’’.

Chairman at the occasion and former National Chairman of the PDP, Chief Audu Ogbeh, advised Nigerians to vote the former EFCC Chief to to counter, decisively, the corruption that has undermined the nation’s development.

“Whatever any politician promises you cannot be achieved for the simple reason that 75 percent of the budget goes to overhead; the remaining 25 percentdisappear through organized corruption. Unless corruption is checked, there cannot be development. One man who has the expertise in catching the thieves is Nuhu Ribadu.”