The growth of any modern economy depends on its capacity to attract both public, private and foreign investments, the required skilled workforce, the strong financial infrastructures from access to capital and solid credit rating system. NDA will work to secure a progressive market oriented economy base on these economic principles as well as exporting its natural and mineral resources with high investment returns and creating modernized factories/industries that will produce jobs for the youths and tax revenues for government.
NDA plans to reduce inflations through liberalize trade, sound fiscal and monetary policies and improving the GDP sectors like Agriculture, manufacturing and the service industry. By creating a job stimulating economy, not only in the mining sector but through diversified efforts like exporting natural products to trading partners in Europe, Asia and America, Sierra Leone will rebound and grow its economy exponentially.
Investment in education will generate the required labor or specified skills for our citizens to compete in the regional market and encourage foreign investors to utilize our skilled resources for their investment needs. With a growing private and public business sector, jobs, revenues and the growth of the GDP will inevitable take a strong footing.
NATIONAL DEBT AND EXCESSIVE SPENDING
The National Democratic Alliance (NDA) is cognizant of the economic fact: that no modern government in Sierra Leone has ever taken the serious obligation to address its national debt by reducing reckless spending, stamping out institutionalized corruption and working to manage its national and International debt through consolidation and management initiatives. NDA is seeking to reduce Sierra Leone’s current $1.6 billion through debt forgiveness programs, repayment plans and conservative national spending policies.
Foreign and National debt interest payments takes away resources from social service programs like Education, Health and Road constructions. It degrades Sierra Leone’s credit rating system which results in high interest borrowing, lack of adequate capital resources and struggling multi-national investment opportunities. Thus, NDA will pride its governance mandate when it assumes the mantle of national leadership by reducing its debt burden, promoting fiscal responsibility and discipline and re-allocating freed up funds from debt interest to pay for critical national programs especially on education and the health care sector.
MINING AND MINERAL RESOURCES
There are about twenty-one (21) known minerals of which about sixteen exist in Sierra Leone such as bauxite, rutile, iron or, gas, diamonds, etc. Recent oil deposit was found off the coast of Sierra Leone with an additional bauxite reserve in the Port Loko Districts. But these mineral resources does not seem to benefit the people of Sierra Leone because of mining agreements made by both the APC and SLPP that favors big mining companies. The agreements signed in the past reduces corporate taxes that are almost 45% across the sub region to 6% in Sierra Leone, while mining companies contribute little to community developments or practice safe mining activities that protects inhabitants and the environment.
The NDA will work to increase corporate taxes to competitive level, while at the same time encouraging mining companies to promote business transparency, environmental sustainability and ethical social programs in the Districts where mining activities are done. NDA will encourage the establishment of “sorting and aggregation” industry to create job opportunities for Youths. Loss revenues acquired from mining royalties, corporate taxes and property taxes will be used to pay for critical social service sectors like: EDUCATION, HEALTH and ROAD CONSTRUCTIONS. MARINE RESOURCES AND THE ENVIRONMENT TRANSPORTATION AND COMMUNICATION
MARINE RESOURCES AND THE ENVIRONMENT
The country has a coastline of about two hundred and ten (210) nautical miles with over two hundred (200) diverse fish species in its territorial waters, which is under fished with a current level of sixty-five thousand (65000) tons. The present fishing output is also retrogressing as a result of poor management, smuggling and lack of adequate funding for the Marine resources Ministry. The National Democratic Alliance (N.D.A.) Party will provide proper management and monitoring system with better logistics to ensure that fishing productive generate revenues and employment. Aquaculture would be a major component that would be embarked on the marine sector to activate the shortage of fish supply particularly in the districts. The marginalised communities (far from streams, sea etc) will be provided with the necessary skills and equipments to cater for the protein requirements. We will encourage, through the private and public sector, the establishment of canning industries for processing of seafood products.
The NDA will also put mechanisms in place for the forestation of the mangrove swamps along the coastal lines as a suitable habitat for fish breeding. The biggest threat to mankind also is global climate change and land degradation due to Agricultural, mining and engineering activities. The NDA will promote reforestations, enforce environmentally friendly mining laws and develop an environmental code of enforcement on emission and other pollutant agents.
TRANSPORTATION AND COMMUNICATION
The NDA on assuming the reins of government will make privatization a vehicle of development especially in the transportation sector. The transportation industry is a life line of commerce and economic growth. Without good roads, the wheels of the economy cannot run. NDA will embark on the construction of new roads with feeder roads from agricultural, mining and industrial areas, improve traffic congestion in the capital city, and educate motorists about traffic safety laws, and encouraging investments in ferry and air services both nationally and regionally.
The deep-water quay which is the largest natural harbor in West Africa will be expanded to accommodate larger ships and provide modern facilities to match international standards. We will expand also the construction of Solima, Pepels and Netty harbor for regional shipments and commercial transportation. Revenues collected in this sector will be used to pay for education and the heath care sector.
On the Communication industry, NDA will work with private investment companies to upgrade communication mobile and internet access to provide faster and wider coverage nationwide. NDA will complete the fiber optic projects that was supposed to increase the access level of broad band internet service across Sierra Leone and lower the cost of service. More emphasis will be added to improving access to inter-ministerial and agencies of government to communicate effectively through digitalization of records and information that will create efficiency and effectiveness in the delivery of public services to the people.