The Peoples Democratic Party has slammed President Buhari stating that his policies show that he’s clueless about how to move Nigeria forward.
They said this in a statement released by Deji Adeyanju, the director for New Media for the PDP in which he criticized the statements made by Vice President Professor Yemi Osinbajo. For the avoidance of doubt, we will repeat some of them.
The vice President had revealed some facts about the decline in the Nigerian Economy some of which were; the fall of Foreign Investment by 56% from $395m in Q1 2015 to $175m in Q1 2016, Foreign Investment in the Stock market stood at a mere $90.3m in Q1 2016 down from $621m in Q1 2015, The rise of Inflation to 16.5% in 2016. It stood at 9.6% in 2015 & 8.6% in 2014, a massive fall in GDP growth from 6.3% in 2014 to 2.3% in 2015 & -1.8% in 2016 to mention a few.
The statement also noted that it is difficult to verify Osinbajo’s claim that FIRS has achieved 73.17% because the FIRS has blatantly refused to publish quarterly reports for 2016.
The statement also noted that while Osinbajo stated that CAPEX spending of the FG this year has been N332bn and a promise to release N100bn in the coming days was a positive move, it still represents only a meagre 18.4% of the N1.8tn proposed by #Budget2016 and as such is insufficient to provide any meaningful effect on the economy.
According to the statement, releasing only 18.4% of CAPEX expenditure as at August 2016 has stalled infrastructure development & has killed 1000s of jobs.
The statement slammed Buhari saying that the sum total of the figures showed that the current administration has badly mismanaged the Nigerian economy.
Even worse, the Buhari administration has no clue as to how to reposition Nigeria to beat the recession they have forced the country into the statement further alleged.
The PDP also accused many agencies of violating the FOI Act in refusing to divulge data as such data they claimed would reveal the extent of damage the administration had caused.
The PDP did express optimism that with the appointment of a Special Adviser on Economic Matters the current administration will come up with better policies than the “try your luck” approach adopted in the past 15 months.