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Mr Abubakar, an indigene of Adamawa State, clinched the ticket of the opposition party in 2019 but was defeated by incumbent President Muhammadu Buhari.
To clinch the PDP ticket in 2019, he defeated other aspirants such as a former senate president, Bukola Saraki, Governor Aminu Tambuwal of Sokoto, former Kano governor Rabiu Kwankwaso, amongst others.
Mr Abubakar is expected to compete for the ticket with Mr Tambuwal, Governor Bala Mohammed of Bauchi and other PDP presidential aspirants.
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The former vice president while reeling out some of the plans he has for the country vowed to hand over to a younger generation if elected.
He also said he intends to focus on five key areas which he listed as unity of Nigeria, security, economy, education and devolving more resources and powers to the federating units.
Abubakar accused the governing All Progressives Congress (APC) of failing to live up to its responsibilities of protecting the lives and properties of Nigerians which he said will be his top priorities.