The People’s Democratic Party has accused President Muhammadu Buhari of wrecking Nigeria’s economy over an alleged N22triillion naira debt.
The opposition party while blaming the President in a statement released on Wednesday on its social media page, alleged that President Buhari is surrounded by Ministers and Special Advisers, who like himself lack understanding of current global economic dynamics, by there by dragging the country into huge debt.
The party said due to this poor understanding, the country is now N22Trilliona naira in debt.
The press statement as released by Mr. Kola Ologbondiyan said:
“President Muhammadu Buhari’s poor understanding of current global economic dynamics and his cover of humongous corruption in his Presidency has completely wrecked our nation and directly responsible for the accumulated N22 trillion national debt burden.
Since Muhammadu Buhari took control of our once robust economy, he has not been able to articulate any germane policy to sustain or grow the economy but has resorted to borrowing, while allowing his cronies and All Progressives Congress leaders to fritter away trillions of Nigeria’s earnings
Why would the Muhammadu Buhari administration not accumulate debts when it has continued to cover up corrupt practices under its watch, including the alleged stealing of N9 trillion, through underhand oil contracts in the Nigerian National Petroleum Corporation Group and Ministry of Petroleum Resources, etc.
If these monies were properly accounted for and utilized, Nigeria will not be in this dire economic situation which has brought hunger and starvation on Nigerians and rendered millions of compatriots jobless, while President Muhammadu Buhari and his officials live in affluence.
PDP recalls various red flags by international agencies including transparency international and world Bank on poor management of our ecomomy.
Besides the President has b to n concealing the facts that the Petroleum sector under the Buhari has been into the FOI hall of shame by media right agenda (MRA) following government relentless secrecy and violations in terms of violation of rules in the sector.”
The statement continued by accusing the President of mismanaging the economy, sighting the exchange rate, debt and the happening at the capital market. He said:
“We invite Nigerians to note that since President Buhari intensifies his re-election bid, there has been a huge dearth of investment infow, further depreciation of the naira and a dangerous slide in the capital market.
All sign posing our nation will continue to face perilous time as long as President Buhari remain on the saddle with his array of persons with doubtful credentials as ministers and special advisers
The PDP urge President Buhari to take responsibility for the escalated debt and stop the excuses and get ready to accept defeat and quit the stage in 2019 so that more competent persons can revamp our economy under the platform of re-positioned PDP.” The statement concludes