PDP says President’s administration lacks economic direction

The Peoples Democratic Party (PDP) has said that President Muhammadu Buhari’s administration lacks economic direction.

This was contained in a statement released by PDP National Publicity Secretary, Chief Olisa Metuh on Monday, September 14, 2015.

It reads:

“Whereas the PDP is in full support of the President’s efforts in tackling corruption and insurgency, the party is however concerned about the grave economic situation we now face, as well as indices from global economic watchers, which this administration has failed to give deserving attention, despite its predictable negative impact.”

“Mr. President, this is no longer about politics and partisanship. It is about the economy of our dear nation and the well-being of the Nigerian citizens.”

“Recall that we have severally in the past, drawn attention to official reports showing that the unemployment situation in the country as well as inflation rate are growing at frightening dimensions, let alone the continued decline in domestic and direct foreign investments, all due to uncertainty created by the lack of economic direction of the APC-led administration.”

“The situation has become even of utmost concern following the failure of this administration to articulate any interventionist policy at this critical moment, when credible global economic monitors have continued to predict that oil price may fall to as low as $20 per barrel.”

“It is worrisome that whilst other countries are taking deliberate steps to enhance their investment profiles and hedge their economies at this time, the APC-led Federal Government has done nothing in that direction, but has centered on partisan politics and a witch-hunt of perceived opponents, while the economy remains vulnerable and unattended to.”

“We caution strongly that this approach to governance is not healthy for our nation. Indeed, the time has come for Mr. President to end the apparent lethargy in his administration and take urgent step to set up a crack economic team of experts to immediately swing into action and salvage the situation by opening up all economic outlets, which have been stagnated in the last four months.”

The PDP had earlier claimed that Nigeria had lost billions of nairaunder its new president due to his failure to address the country’s economic issues.

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