The Peoples Democratic Party (PDP) has claimed that President Muhammadu Buhari administration has done enormous damage to the nation’s economy since it took over governance from May 29th.
The PDP premised its judgment on what it called “ the shambolic state of the nation’s economy within the period, which represents the worst in the nation’s contemporary history,” and further attributed it to “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.”
Metuh, in the statement said: “Instead of gains, official reports show that the past three months under the APC-led government has 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 a harsh economic regime to cover its ineptitude.
“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 the economy is being grounded with Nigeria’s real gross domestic product (GDP) plunging with about 2.3 per cent, while job creation has dropped by 69 per cent.
“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.
“This is in addition to the halt in infrastructure development projects in most parts of the country with associated massive job loss, closure of auxiliary small scale businesses, low purchasing power of citizens, among other negatives that have bedeviled the economy since the coming of this government, despite the much APC celebrated promissory notes from the President’s diplomatic shuttles, especially his recent visit to the United States.
“Nigerians are no longer in doubt that they have been scammed with long list of empty promises which the APC government has no intentions or capacity to fulfill. The free meals for school children, allowances for discharged corps members, N5,000 monthly allowance for indigent Nigerians, free houses, bringing the dollar to the same value as the naira and other bogus promises for which they were voted into power, have become streams of mirage.
Metuh said Nigerians had become tired of diversions and propaganda of creating imaginary achievements and dramatization of routine appointments.