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Opposition raises concern over Economic Recovery and Growth Plan

April 7, 2017 8:43 PM

It also wondered how the lofty plan could be actualised given “the low state of Nigerian economy’’ where government was borrowing domestically and internationally to fund its operations.

Ahmed Makarfi

The Peoples Democratic Party (PDP) on Friday urged the Federal Government to ensure commitment to the implementation of Economic Recovery and Growth Plan.

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The plan was launched on Wednesday by President Muhammadu Buhari in Abuja.

In a statement by the National Caretaker Committee Spokesman, Mr Dayo Adeyeye, the party welcomed the economic growth plan but said that it required great commitment to see it through.

It, however, expressed worry over comments purportedly made by the president during the launch to the extent that the government was approaching solution to the economic challenges as it did with terrorism.

“The 2017 Budget is still a mirage.

“To buttress this, the International Monetary Fund (IMF) has declared that Nigeria is spending 66 per cent of its interest revenue on debt.

“In other words, the Federal Government has only 34 per cent of its revenue to tackle capital and recurrent expenditures and development.’’