N22 trillion Debt: Buhari, APC Have Wrecked Our Nation Says PDP

Related stories

Edwin Cortes: Prefers Being A Small Puerto Rican Than Big American

By Owei Lakemfa To be a citizen of the United...

June 12 And The International Pursuit of Justice For Abiola, By Femi Falana

The June 12, 1993, pro-democracy struggle in Nigeria is...

Breaking Down the West’s $146 Billion 2024 Defence Technology Investment

Advanced technologies like drones, sensors, and even artificial intelligence...

G7 vs. the World: GDP, Population, and Military Strength

Key Takeaways G7 countries represent 28.4% of global GDP...

US drillers cut oil and gas rigs for 10th week in a row, Baker Hughes says

U.S. energy firms this week cut the number of...

The Peoples Democratic Party (PDP) says President Muhammadu Buhari’s poor understanding of current global economic dynamics and his cover of humongous corruption in his Presidency have completely wrecked our nation and directly responsible for the accumulated N22 trillion national debt burden.

The party says had President Buhari heed wise counsel from the PDP to allow competent hands to manage the nation’s economy and had he not continued to provide official cover for corruption in his Presidency, the nation would not have been in this current embarrassing economic situation.

Since President Buhari assumed office and took control of our once robust economy, his administration has not been able to articulate any germane policy to sustain, let alone, grow the economy, but had instead, resorted to borrowing, while allowing his cronies and APC leaders to fritter away trillions of naira earned by the nation in the last three years.

Why would the 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 NNPC and Ministry of Petroleum Resources as well as the alleged illegal lifting of crude oil worth N1.1 trillion by 18 unregistered companies to service APC interests, among others.

Moreover, the Buhari Presidency has refused to explain the whereabouts of trillions of naira unremitted oil revenue, resulting in the deadlock at the Federal Accounts Allocation Committee (FAAC).

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 Buhari and his officials live in affluence.

The PDP recalls various red flags by international agencies, including Transparency International and the World Bank on the poor management of our economy. Besides, the Presidency has been concealing the fact that Petroleum sector under President Buhari has been inducted into the FOI Hall of Shame by Media Rights Agenda (MRA) following government’s relentless secrecy and violation of rules in the sector.

We invite Nigerians to note that since President Buhari intensified his re-election bid, there have been huge dearth in investment inflow, further depreciation of the naira and a dangerous slide in the capital market, all signposting that our nation will continue to face perilous time as long as President Buhari is on the saddle with his array of persons with doubtful credentials as ministers and special advisers.

The PDP therefore urges President Buhari to take responsibility for the escalated debt, stop offering excuses and get ready to accept defeat and quit the stage in 2019, so that more competent Nigerians can revamp our economy on the platform of the repositioned PDP.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Edwin Cortes: Prefers Being A Small Puerto Rican Than Big AmericanJune 12 And The International Pursuit of Justice For Abiola, By Femi FalanaBreaking Down the West’s $146 Billion 2024 Defence Technology InvestmentG7 vs. the World: GDP, Population, and Military StrengthUS drillers cut oil and gas rigs for 10th week in a row, Baker Hughes saysExclusive! Tinubu Tips Late Ajimobi's Wife, Florence, Others for Ambassadorial PostsTinubu Mourns, Pays Tribute to Legendary Super Eagles Goalkeeper Peter RufaiNatasha vs Akpabio: Court Orders Senate President To Recall Senator NatashaHadi Sirika Denies Defection to ADC Coalition Rumors, Reaffirms Loyalty to Buhari, APCChina Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsHow Super Eagles Icon Peter Rufai passed Away at 61Dakuku Peterside’s Beneath the Surface Book Out in OctoberOil Prices Dip on Confirmation of Inventory BuildBuhari In Stable Condition - Ex-Aide ConfirmsBREAKING: Ex-President Buhari sick, hospitalised abroad
X whatsapp