The Peoples Democratic Party (PDP) says President Muhammadu Buhari’s poor
understanding of current global economic dynamics and his cover of
humongous corruption in his Presidency have completely wrecked our nation
and directly responsible for the accumulated N22 trillion national debt
burden.
A statement signed by the Party’s Spokesman, Mr. Kola ologbondiyan said
had President Buhari heed wise counsel from the PDP to allow competent
hands to manage the nation’s economy and had he not continued to provide
official cover for corruption in his Presidency, the nation would not have
been in this current embarrassing economic situation.
“Since President Buhari assumed office and took control of our once robust
economy, his administration has not been able to articulate any germane
policy to sustain, let alone, grow the economy, but had instead, resorted
to borrowing, while allowing his cronies and APC leaders to fritter away
trillions of naira earned by the nation in the last three years.
“Why would the Buhari administration not accumulate debts when it has
continued to cover up corrupt practices under its watch, including the
alleged stealing of N9 trillion, through underhand oil contracts in the
NNPC and Ministry of Petroleum Resources as well as the alleged illegal
lifting of crude oil worth N1.1 trillion by 18 unregistered companies to
service APC interests, among others.
“Moreover, the Buhari Presidency has refused to explain the whereabouts of
trillions of naira unremitted oil revenue, resulting in the deadlock at
the Federal Accounts Allocation Committee (FAAC).
“If these monies were properly accounted for and utilized, Nigeria will
not be in this dire economic situation which has brought hunger and
starvation on Nigerians and rendered millions of compatriots jobless,
while President Buhari and his officials live in affluence.
“The PDP recalls various red flags by international agencies, including
Transparency International and the World Bank on the poor management of
our economy. Besides, the Presidency has been concealing the fact that
Petroleum sector under President Buhari has been inducted into the FOI
Hall of Shame by Media Rights Agenda (MRA) following government’s
relentless secrecy and violation of rules in the sector.
“We invite Nigerians to note that since President Buhari intensified his
re-election bid, there have been huge dearth in investment inflow, further
depreciation of the naira and a dangerous slide in the capital market, all
signposting that our nation will continue to face perilous time as long as
President Buhari is on the saddle with his array of persons with doubtful
credentials as ministers and special advisers.
“The PDP therefore urges President Buhari to take responsibility for the
escalated debt, stop offering excuses and get ready to accept defeat and
quit the stage in 2019, so that more competent Nigerians can revamp our
economy on the platform of the repositioned PDP.”