The Peoples Democratic Party (PDP) has decried as alarming, the damage allegedly done on the nation’s economy by the President Muhammadu Buhari-led All Progressives Congress (APC) since it took office at the centre, three months ago.
The party said the state of the nation’s economy within the period, which allegedly represents the worst in the nation’s contemporary history, is a direct fallout of uncertainty created by the inability of the Buhari-led government to chart a clear-cut economic policy, worsened by abuse of regulations, and flagrant violation of constitutional provisions.
PDP National Publicity Secretary, Chief Olisa Metuh, in a statement yesterday in Abuja said instead of gains, official reports show that the last three months under the APC-led government have brought a sudden decline in the nation’s Gross Domestic Product (GDP), with attendant losses and hardship to the citizens, while the government embarks on propaganda of imaginary achievements, in addition to attempts to foist harsh economic regime to cover its ineptitude.
The statement read in full “If not for crass incompetence or a possible ulterior motive to subjugate Nigerians for selfish reasons, what else explains the adamant stance of this administration in running a government without the statutory components of a full cabinet and precise fiscal policy direction, even when the negative consequences of this strange totalitarian approach are taking serious toll on the economy and the polity in general?
“Whereas the APC led government is busy with its propaganda of imaginary achievements, official reports from the National Bureau of Statistics show that that the economy is being grounded with Nigeria’s real Gross Domestic Product (GDP) plunging with about 2.35 per cent, while job creation has dropped by 69 percent.
“In the last three months under an inept and poorly coordinated APC-led government, our nation’s economy, which before now, held the record as the largest in Africa and one of the fastest growing in the world, suddenly plummeted as officially evidenced in the lull in the capital and money market sectors which have lost billions of naira; spiral rate of inflation, and stagnation in domestic and foreign direct investments, with investors scared away due to the uncertainty arising from lack of economic direction and apparent confusion in the polity.