Atiku Abubakar, presidential candidate of Nigeria, addressed students, industry leaders, and the press about “Emerging Markets post-2008.” The consensus candidate of the People’s Democratic Party (PDP) has promised to lower corporate taxes from the current high of 30 percent to a mere 10 percent.
The former Vice President of Nigeria attested that his administration would create a solid foundation for Nigeria to become resistant to future crises. Mr. Abubakar declared that he “would seek to deepen regional integration and diversify national economies [in order]to be globally competitive.”
As part of his plan to strengthen Nigeria’s economy, Mr. Abubakar will focus on creating an environment for international private capital to flow and remain in Nigeria. He stated, “We want to make Nigeria a preferred location for FDI in the world… Nigeria, along with Africa, can provide some of the highest rates of return on investment and we must exploit this.” Mr. Abubkar also affirmed that the customs clearance system would be overhauled to turn around imports within 48 hours. Mr. Abubakar promised that Nigeria would actively work with other emerging markets in order to accelerate the acceptance of reforms targeted at the financial and monetary systems. He stated that, at the moment, he believes there is a lack of political will to make progress and that only a globally coordinated organization could inhibit future crisis.
“We are pleased to welcome high-caliber political figures to our campuses to share their perspectives of the world economy with our students,” said Dr. Stephen Hodges, President of Hult. If elected in 2011, Mr. Abubakar aims to ensure double-digit growth and the creation of millions of jobs. He aspires to make Nigeria ‘Africa’s financial hub’ and stresses that, if Nigeria does not survive economically, then sub-Saharan Africa will not survive.
About Hult International Business School:
Hult International Business School (formerly known as the Arthur D. Little School of Management) is the first global business school with campuses in Boston, San Francisco, London, Dubai, and Shanghai. The school offers a range of business-focused programs including MBA, Master, and Undergraduate degrees. Hult’s one-year MBA program is ranked in the top 30 in the world by The Economist and among the top 100 by the Financial Times.