“NIGERIA’S DEBT BURDEN HAS SINCE RISEN TO N32.9 TRILLION UNDER BUHARI”, SAYS SECONDUS

ONE of the Apex Nigerian political parties, People’s Democratic party(PDP), said that Nigeria is under a debt, not less than N32.9 trillion. The Debt, they said was incurred under the current, Buhari led Federal Government.

Speaking in their world Congress, the National leader of the party, Prince Uche SECONDUS outlined in details, several problems of the country, which if not tacked promptly, may send Nigeria to early ruins.

Having talked about Insecurity, mass banditry and murder, he delved into the Economy amongst other issues.

ALSO READ: “APC-LED GOVERNMENT HAS TURNED NIGERIA INTO AN EXPANSIVE FIELD OF MASS KIDNAPPING AND MURDER”, SAYS PDP

It reads, “This government has been completely rudderless regarding the economy. We remember that prior to the emergence of this administration, Nigeria’s debt profile stood at less than $9.4 billion, (N1.8 trillion) having benefitted from the efforts of a previous PDP administration led by former President Olusegun Obasanjo for a debt relief of over $18 billion. Presently, Nigeria’s debt burden has since risen to N32.9 trillion. It is curious that the only economic management tool known by this government is just mind-boggling borrowing. This includes borrowing for recurrent expenditure as well as for consumption. “

“The incompetence and absence of a clear policy for the economy is fast leading us into the woods of insolvency, which was recently confirmed by NNPC’s confession that it would not be able to make remittances to FAAC for the month of April as well as the confusing response of government regarding the appropriate use of Ways and Means (printing money) to address our mounting economic challenges.”

“It is also very clear that despite the whimsical closure and reopening of borders, the supposed consumption of the Premium Motor Spirit (PMS) alone has increased from about 30 million litres in 2015 to over 60 million litres even when the production capacity of the economy has seriously diminished. Many companies and businesses have dumped Nigeria for neighbouring countries because of an apparent inclement operational environment. Therefore, your guess is as good as ours as to whether the subsidy is for us, the citizens, or for the pockets of a few privileged few in government.”

“Further source of worry is the exchange rate that was at N180 to a dollar in 2014, now stands at nearly N500 to a dollar contrary to the APC’s propaganda-laden promise of matching a dollar to one naira.”

“Inflation has been on the rise. According to the National Bureau of Statistics, the consumer price index, which measures inflation increased, stood at  18.17 per cent (year-on-year) in March 2021. We have one of the highest unemployment rates in the world; and while one of the United Nation’s Sustainable Development Goals is to end extreme poverty by 2050, APC has continued to lead the nation in the opposite direction. With over 89.9 million citizens living in extreme poverty, Nigeria overtook India as the poverty of the world in 2018, according to the Washington-based Brookings Institution. Nigeria’s corruption rating has been consistently worse under the APC-led administration.”

“These and more clearly shows that the APC-led government has left the economy more than 100 per cent worse than they met it.”

MISMANAGEMENT OF THE NATION’S DIVERSITY AND THE REFUSAL TO ENGAGE

“In its formation, character, modus operandi, and belief in the eternal destiny of this country to succeed, the PDP, while not claiming perfection, has always taken deliberate steps to engage Nigerians and take constructive approach to nation-building.  In this vein, the PDP in June 12, 2014 organised an all-party conference aimed at de-politicisation of the war against insurgency, which the incumbent President and Commander-in-Chief, Dr. Goodluck Jonathan as well as General Muhammadu Buhari (as he was then known).”

“In January 14, 2015, a peace accord was encouraged and endorsed by all political parties, which led to a successful 2015 election. The PDP also initiated a standing National Peace Committee, which is still in existence. And of course, the PDP initiated and successfully hosted the 2014 National Conference to deescalate tension and chart a trajectory for the social, economic, and political stability and prosperity for our nation.”

“Having done all these, we are worried that the APC government, in its character, formation, and modus operandi, has successfully mismanaged our diversity. It is clear that the core philosophy of the APC is to run a government of exclusion. They do not constructively engage Nigerians, except for erratic statements by Malam Garba Shehu, which further fans the embers of disaffection. Its sheer arrogance coupled with an aloof President is a disaster waiting to happen.”

“Increasingly, Mr. President is absent from duty.  The symbol of authority of the Executive is simply not there, leading to various centres of power in the Executive, which affect the economy, security and manifest in lack of coordination and synergy in government operation.”

“The apparent nepotism in the appointment of the top echelon of the security forces, and the commanding heights of the institutions of government further fuel agitations across the country. In fact, winning elections has been reduced by the APC to more of sharing the spoils of war than running a government to the benefit of all citizens. This could be the only discernable reason for the President to appoint and still retains, as a Minister of the Federal Republic of Nigeria that has access to the sensitive data of Nigerians, a self-confessed bigot, who had voluntarily expressed happiness at the killing of people of other faith. It is also curious that such an individual like Isa Pantami, scaled through the vetting by Department of State Security (DSS) ahead of confirmation by the Senate.”

“Granted that he may have changed in his views, is it possible that millions of youth radicalised by his preaching have also repented from extreme views and concomitant violent conducts? The PDP holds that our present circumstance is attributable to Dr. Isa Pantami and people who share and preach his views.”

“The very first step is for Pantami to be immediately relieved of his office and handed over for investigation, and if found wanting, he should be prosecuted.”

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