{"id":98806,"date":"2022-09-01T11:51:32","date_gmt":"2022-09-01T10:51:32","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=98806"},"modified":"2022-09-01T11:51:32","modified_gmt":"2022-09-01T10:51:32","slug":"nigerias-economy-in-deeper-trouble-during-apc-govt-says-atiku","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nigerias-economy-in-deeper-trouble-during-apc-govt-says-atiku\/","title":{"rendered":"Nigeria\u2019s Economy In Deeper Trouble During APC Govt, Says Atiku"},"content":{"rendered":"<div><\/div>\n<div>The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, says Nigeria\u2019s Gross Domestic Product (GDP) released by the National Bureau of Statistics (NBS) has shown that the country\u2019s economy is in \u201cdeeper trouble than the APC-led government is willing to admit\u201d.<\/div>\n<div><\/div>\n<div>NBS, in its statistics quarterly report released, said Nigeria\u2019s GDP stood at N45 trillion in the second quarter of 2022 on a year-on-year basis.<\/div>\n<div><\/div>\n<div>However, Atiku, in a statement he personally issued said: \u201cThe citizens\u2019 level of misery hasn\u2019t changed, and the reasons are obvious: first, the key sectors of the economy, notably agriculture, oil and gas (the country\u2019s cash cow) and manufacturing (that contributes to jobs), are either growing slowly or declining.<\/div>\n<div><\/div>\n<div>\u201cSecond, unabated are rising commodity prices occasioned by high energy and transportation costs (and aggravated by the disorderliness in the forex market).<\/div>\n<div><\/div>\n<div>\u201cAlso, debt levels continue to rise while the fiscal capacity to service its debts is declining. All these are enough to erase the perceived gains from output growth.<\/div>\n<div><\/div>\n<div>\u201cHaving run out of ideas, it appears that our unprecedented level of indebtedness is whetting the government\u2019s appetite for more debt. This is a recipe for macroeconomic instability, he stated.<\/div>\n<div><\/div>\n<div>The former Vice President further challenged the NBS to \u201cshare with the public their recent statistics on poverty, unemployment and commodity prices \u2014 the reality of which will leave no hope for the common man.\u201d<\/div>\n<div><\/div>\n<div>Atiku added that increasing debts would never be a solution to the country\u2019s indebtedness, noting that if elected as president, \u201cmy government will halt the rate of debt accumulation and instead focus on private-public partnerships in financing development.<\/div>\n<div><\/div>\n<div>\u201cAlso is the consideration of a government of national unity that will douse the temperature, unite Nigerians and pave the way for improved security.<\/div>\n<div><\/div>\n<div>\u201cImproved security allows for investments and, therefore, an improved economy. Also targeted tax rebates to attract foreign and local investments, amongst other proactive measures to attract investments to grow the economy,\u201d the PDP presidential candidate said.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, says Nigeria\u2019s Gross Domestic Product (GDP) released by the National Bureau of Statistics (NBS) has shown that the country\u2019s&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":96077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-98806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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