The Peoples Democratic Party (PDP) says President Muhammadu Buhari\u2019s poor
\nunderstanding of current global economic dynamics and his cover of
\nhumongous corruption in his Presidency have completely wrecked our nation
\nand directly responsible for the accumulated N22 trillion national debt
\nburden.<\/p>\n
A statement signed by the Party’s Spokesman, Mr. Kola ologbondiyan said
\nhad President Buhari heed wise counsel from the PDP to allow competent
\nhands to manage the nation\u2019s economy and had he not continued to provide
\nofficial cover for corruption in his Presidency, the nation would not have
\nbeen in this current embarrassing economic situation.<\/p>\n
“Since President Buhari assumed office and took control of our once robust
\neconomy, his administration has not been able to articulate any germane
\npolicy to sustain, let alone, grow the economy, but had instead, resorted
\nto borrowing, while allowing his cronies and APC leaders to fritter away
\ntrillions of naira earned by the nation in the last three years.<\/p>\n
“Why would the Buhari administration not accumulate debts when it has
\ncontinued to cover up corrupt practices under its watch, including the
\nalleged stealing of N9 trillion, through underhand oil contracts in the
\nNNPC and Ministry of Petroleum Resources as well as the alleged illegal
\nlifting of crude oil worth N1.1 trillion by 18 unregistered companies to
\nservice APC interests, among others.<\/p>\n
“Moreover, the Buhari Presidency has refused to explain the whereabouts of
\ntrillions of naira unremitted oil revenue, resulting in the deadlock at
\nthe Federal Accounts Allocation Committee (FAAC).<\/p>\n
“If these monies were properly accounted for and utilized, Nigeria will
\nnot be in this dire economic situation which has brought hunger and
\nstarvation on Nigerians and rendered millions of compatriots jobless,
\nwhile President Buhari and his officials live in affluence.<\/p>\n
“The PDP recalls various red flags by international agencies, including
\nTransparency International and the World Bank on the poor management of
\nour economy. Besides, the Presidency has been concealing the fact that
\nPetroleum sector under President Buhari has been inducted into the FOI
\nHall of Shame by Media Rights Agenda (MRA) following government\u2019s
\nrelentless secrecy and violation of rules in the sector.<\/p>\n
“We invite Nigerians to note that since President Buhari intensified his
\nre-election bid, there have been huge dearth in investment inflow, further
\ndepreciation of the naira and a dangerous slide in the capital market, all
\nsignposting that our nation will continue to face perilous time as long as
\nPresident Buhari is on the saddle with his array of persons with doubtful
\ncredentials as ministers and special advisers.<\/p>\n
“The PDP therefore urges President Buhari to take responsibility for the
\nescalated debt, stop offering excuses and get ready to accept defeat and
\nquit the stage in 2019, so that more competent Nigerians can revamp our
\neconomy on the platform of the repositioned PDP.”<\/p>\n
The Peoples Democratic Party (PDP) says President Muhammadu Buhari\u2019s poor understanding of current global economic dynamics and his cover of humongous corruption in his Presidency have completely wrecked our nation…<\/p>\n","protected":false},"author":1,"featured_media":63018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-63620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n