…Says Atiku Was Correct
The Peoples Democratic Party (PDP) berates the Federal Government over
attempts to hoodwink Nigerians by concealing officially documented data
on debts and the alarming state of the nation’s economy.
In a statement signed by Kola Ologbondiyan “Our party insists that it is
public knowledge that our nation’s economy has been mismanaged arising
from excessive borrowings by President Muhammadu Buhari’s
administration.
“The PDP described as scandalous, disgraceful and highly irresponsible
that the Buhari-led administration attempted to disprove already known
facts, as presented by former Vice President Atiku Abubakar, that our
nation’s debt profile, under the Buhari administration, has risen to 99
percent of the revenue profile in the first quarter of 2020.
“It is reprehensible that the Federal Government, through the Minister
of Information and Culture, Alhaji Lai Mohammed, would deny that its
first-quarter 2020 financial report stated that Federal Government’s
retained revenue stood at N950.56 billion, while the total debt services
were N943.12 billion.
“In his denial, the minister forgot that the Medium Term Expenditure
Framework and Fiscal Strategy document from the Federal Ministry of
Finance, Budget, and National Planning showed the figures was already in
the public domain.
“For the avoidance of doubt, tables 3.4 and 4.3 of the report
respectively, state that, “as at end of March 2020, FGN’s retained
revenue was N950.56 billion”, and that “of the expenditure, N943.12
billion was for debt service”.
“The PDP invites Nigerians to note how the response by the Federal
Government to issues raised by Atiku Abubakar has further exposed the
falsehood and concealments inherent in the APC administration and why
our nation’s economy has been in a dire strait.
“The fact is that the Buhari administration has destroyed our economy
with the accumulation of debts to the extent that the debt profile has
risen to 99 percent of our retained revenue. No amount of whitewash by
the Minister of Information can distort this fact.
“It is equally inexcusable for the minister to claim that the debts
taken by the administration were meant to address the poverty it brought
to our nation when it cannot point to any tangible project it had done
in any critical sector apart from turning our nation into the poverty
capital of the world.
“It is therefore clear that with the prevailing situation and the
refusal by the Buhari-led Federal Government to take responsibility for
its actions, our economy is heading towards the brinks.
“The PDP counsels the Buhari administration to desist from its denials
and take responsibility for the economic crisis and debt burden it has
plunged our nation into. The earlier they wake up and begin to think of
what legacy their eight years in office will be remembered for, the
better.
“It will be unpardonable, if, after eight years, all that Nigerians will
remember the Buhari administration for is a basketful of morsels of
lies, huge debts, humongous corruption, escalated bloodletting, hunger,
starvation and awful living conditions that were unknown to Nigerians in
our national history.”