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Economy Is Crumbling -PDP Reminds Buhari

Opposition Peoples Democratic Party Says President Muhammadu Buhari’s Failure To Institute Fiscal Policy Direction And Sustain Existing Programmes Are Killing The Economy


Peoples Democratic Party (PDP) has again called on President Muhammadu Buhari to pay serious and urgent attention to the management of the nation’s economy as it fast deteriorating and without significant growth.

Addressing journalists yesterday in Abuja, the party which spoke through its National Publicity Secretary, Chief Olisa Metuh, said it was worried that the economy had remained on steady decline in the last four months.

PDP attributed the rapid fall of the economy to “the absence of clear-cut fiscal policy direction and an economic team to deal with the domestic and global challenges associated with a developing economy”.

Speaking further, the party said “whereas the PDP is in full support of the President’s efforts in tackling corruption and insurgency, the party is however concerned about the grave economic situation we now face, as well as indices from global economic watchers, which this administration has failed to give deserving attention, despite its predictable negative impact.

The PDP said “as a responsible party”, it was “duty-bound, beyond politics, to draw the President’s attention to the fact that under the prevailing circumstances, the nation is evidently heading to economic doldrums. “Mr. President, this is no longer about politics and partisanship.

It is about the economy of our dear nation and the wellbeing of the Nigerian citizens. “Recall that we have severally in the past, drawn attention to official reports showing that the unemployment situation in the country as well as inflation rate are growing at frightening dimensions, not to talk of the continued decline in domestic and direct foreign investments, all due to uncertainty created by the lack of economic direction of APC-led administration.

“The situation has become even of utmost concern following the failure of this administration to articulate any interventionist policy at this critical moment, when credible global economic monitors have continued to predict that oil price may fall as low as $20 per barrel.

“It is worrisome that whilst other countries are taking deliberate steps to enhance their investment profiles and hedge their economies at this time, the APC-led federal government has done nothing in that direction, but has centered on partisan politics and witch-hunt of perceived opponents, while the economy remains vulnerable and unattended to.

“We caution strongly that this approach to governance is not healthy for our nation. Indeed, the time has come for Mr. President to end the apparent lethargy in his administration and take urgent step to set up a crack economic team of experts to immediately swing into action and salvage the situation by opening up all economic outlets, which have been stagnated in the last four months.

“In managing this economy at this time, we urge Mr. President, as the father of the nation, to look beyond partisan politics and ensure that the policy frameworks and populist economic projects laid by the PDP administration, especially in the non-oil sectors are not allowed to rot, but adequately utilized for the good of all.


APC: You’re Distracting Buhari

All Progressives Congress (APC) yesterday described the PDP’s rambling statement on the nation’s economy as part of the opposition’s ploy  to distract the Buhari Administration from its onerous task of putting the nation on a sound footing.

In a statement issued in b‎y its National Publicity Secretary, Alhaji Lai Mohammed, the party said the PDP’s statement was a litany of delusional self praise, rather than a genuine concern about the nation’s well being.

‘’The question the PDP should ask itself is that if it had laid a solid foundation for the economy in its 16 years in charge, could such a foundation have given way in just three months of a new Administration?

‘’If the PDP had been as fantastic as its statement had portrayed, it would still be the ruling, rather than the opposition party that it is now. ‘’It is therefore important for the PDP to concentrate its attention on remaking its tattered image rather than continuing to act as a desperate attention-seeking opposition,’’it said


– Patrick Osadebamwen, Abuja

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