Duke Advocates Financial Overhaul for Nigeria's Economy

Donald Duke, the presidential candidate of the Peoples Redemption Party (PRP) for the upcoming 2027 general election, has advocated for a comprehensive overhaul of Nigeria’s financial system. He attributed the challenges facing businesses and the economy to high interest rates, rising public debt, and poor government spending.

Duke, a former governor of Cross River State, stated that Nigeria requires bold economic reforms aimed at affordable credit, disciplined public expenditure, energy security, and institutional efficiency to enhance productivity and restore investor confidence. He noted that current lending rates, which are in the upper 30s, hinder economic growth, arguing that sustainable growth is unattainable with such high borrowing costs.

Duke pledged that if elected, his administration would focus on creating a financial system that supports productivity. He also criticized government spending priorities and called for investments in critical sectors like electricity, healthcare, and education to drive economic development.

Additionally, he emphasized the need for reforms in revenue generation, energy policy, and the judiciary to unlock Nigeria's economic potential.