The ruling All Progressives Congress APC, has blamed former Presidents
\nOlusegun Obasanjo, Musa Yar’Adua and Goodluck Jonathan for poor economic
\npolicies that has plunged Nigeria into recession.<\/p>\n
APC in a response to the opposition Peoples Democratic Party, PDP, APC
\nsaid the 16 years misrule of the PDP plunged Nigeria into the current
\neconomic chaos.<\/p>\n
PDP\u2019s 16years in power produced ex-presidents Olusegun Obasanjo, Umar Musa
\nYar\u2019Adua and Goodluck Jonathan.<\/p>\n
It said, the statement by the Peoples Democratic Party (PDP) on Wednesday
\n\u201cis the latest in the party\u2019s insensitive plot to deflect attention from
\nthe voodoo economics and reckless fiscal policies the country was
\nsubjected to during its 16-year rule.<\/p>\n
\u201cThe warning signs were glaring to the immediate-past administration but
\nit choose the path of economic sabotage by looking the other way and
\nsquandering the country\u2019s commonwealth \u2013 a reckless decision that has
\nbrought the country to its knees\u201d, APC stated.<\/p>\n
The party in the statement signed by its national scribe, Mai Mala Buni
\nwas formally reacting to attacks by the PDP on the President Muhammadu
\nBuhari\u2019s lack of capacity to steer the economy.<\/p>\n
Following the official declaration by the National Bureau of Statistics
\nNBS that Nigeria\u2019s economy was in a recession, the PDP had taken APC to
\nthe cleaners, saying the ruling party is confused as to how best to manage
\nthe economy and reverse its dwindling fortunes.<\/p>\n
Two former governors of the Central Bank of Nigeria, Prof. Charles Soludo
\nand Emir of Kano, Muhammad Sanusi II had recently taken a swipe at the
\neconomic trajectory of the APC-led administration, describing it as
\narchaic, indefinite and rudderless.<\/p>\n
However, the APC assured Nigerians that the President Muhammadu Buhari
\nAPC-led administration remains solidly committed to resuscitating the
\neconomy in the quickest possible time and in the best interest of the
\npeople.<\/p>\n
\u201cFor the umpteenth time, the PDP lacks the moral basis and credibility to
\ncomment or condemn the government on the economy after the mess it left
\nbehind. Instead, the PDP must apologize to Nigerians.<\/p>\n
\u201cNigerians will recall that even the immediate-past finance minister and
\ncoordinating minister of the economy, confessed that the zero political
\nwill to save under the immediate-past administration is responsible for
\nthe challenges facing the country\u201d.<\/p>\n
APC listed several achievements of the Buhari administration, saying the
\nnation was well on the path to quick economic recovery.<\/p>\n
It added; \u201cHappily, the President Muhammadu Buhari administration has
\nembarked on well- thought economic agendas, policy actions, appropriate
\nfiscal, governance, and socio-political reforms to revamp the economy and
\ntackle the nation\u2019s current challenges in the short to long term.<\/p>\n
\u201cUnder the new flexible foreign exchange policy introduced by the Central
\nBank of Nigeria (CBN) in June 2016, we now have a single market-determined
\nexchange rate which enables suppliers of foreign currencies to bring in
\ntheir money and take the same out at market-determined rates. The new
\nforeign exchange policy being implemented will ensure our economy recovers
\nin the medium to long term.<\/p>\n
\u201cAs contained in the assented 2016 National Budget, the administration of
\nPresident Muhammadu Buhari is aggressively formulating and implementing
\npolicies aimed at diversifying Nigeria\u2019s economy from oil to other sectors
\nsuch as agriculture, mining and manufacturing.<\/p>\n
\u201cThe administration is also proactively tackling increased attacks on oil
\nfacilities in the Niger Delta region which has led to disruptions in crude
\nproduction.<\/p>\n
\u201cThe President\u2019s shuttle diplomacy has yielded positive effects on the
\ncountry\u2019s economic policies. As a result, several agreements concluded
\nduring the visits are positively impacting on key sectors of the Nigerian
\neconomy including power, solid minerals, agriculture, housing and rail
\ntransportation.<\/p>\n
\u201cThe fight against corruption remains a top priority for the President
\nBuhari APC-led administration. In spite of desperate attempts by some
\npartisans to discredit anti-corruption efforts in some quarters, the war
\nagainst corruption is being won and has been well-received and supported.
\nThe generality of Nigerians agree that the days of impunity are over.<\/p>\n
\u201cThrough the full implementation of the Treasury Single Account (TSA) by
\nthe President Muhammadu Buhari APC-led administration, revenue leakages
\nhave been greatly plugged.<\/p>\n
\u201cThe new petroleum products supply and pricing framework which eliminated
\ncorruption-tainted subsidy payments has among others greatly solved fuel
\nscarcities by ensuring availability of products at all locations in the
\ncountry; reduced hoarding, smuggling and diversion substantially and
\nstabilise price at the actual product price; encouraged investments in
\nboth Refineries and Retails; provided Government more revenue to address
\nsocial and infrastructural needs of the country.<\/p>\n
\u201cIn line with the critical infrastructural focus of the President
\nMuhammadu Buhari administration, an unprecedented 30 per cent of 2016
\nbudgetary provision has been committed to capital projects.<\/p>\n
\u201cAs the administration works assiduously to build a new solid foundation,
\ncredible image and pull the country out of the present hardships, the APC
\nappeals for patience and cooperation from Nigerians\u201d, APC pleaded.<\/p>\n","protected":false},"excerpt":{"rendered":"
The ruling All Progressives Congress APC, has blamed former Presidents Olusegun Obasanjo, Musa Yar’Adua and Goodluck Jonathan for poor economic policies that has plunged Nigeria into recession. APC in a…<\/p>\n","protected":false},"author":1,"featured_media":52783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-52786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n