The Peoples Democratic Party (PDP) has asked President Muhammadu Buhari to resign for “destroying” Nigeria’s economy.
Deji Adeyanju, PDP new media director, said this in a statement.
Reacting to the figures of unemployed Nigerians and that of the rate of inflation in the country released by the Nigeria Bureau of Statistics (NBS) on Wednesday, Adeyanju accused the Buhari administration of incompetence and ineptitude.
“Nothing better showcases the absolute ineptitude and incompetence of the Muhammadu Buhari administration than the GDP, inflation and unemployment figures released by Nigerian Bureau of Statistics,” he said.
“These figures reveal what we have repeatedly said over the last 15 months – the Nigerian president is destroying the Nigeria economy.
“For the avoidance of doubt, some of these figures include GDP contracted by -2.06% in Q2 2016. In contrast, the economy grew by 2.35% in Q2 2015. Q2 was worse than the -0.36% shrinking of the economy in Q1 2016; headline Inflation for July 2016 stands at 17.1%. It was from 16.5% in June 2016; food inflation was 15.58% for July 2016 from 15.3% in June 2016; portfolio investment declined to an estimated $245.3m in Q2 2016. This represents a 9.5% from $271.0m in Q1 2016 & is a far cry from $2.81bn in Q2 2015 and FDI declined from $211.1m in Q2 2015 and $174.4m in Q1 2016 to an estimated $133.0m in Q2 2016.”
Adeyanju said that the implication of these indices was “that Nigeria is in its worst economic state in 29 years – dating back to 1987 when the nation had to take harsh steps to recover from President Buhari’s policies of 1984-85.”
“As with 1984-85, companies are fleeing our shores in droves. Manufacturers Association of Nigeria (MAN) recently stated that 272 companies have shut down in the past one year,” he said.
He said that the country was suffering a brain drain “where our best and brightest talents are leaving the country in search of a better life elsewhere”.
“It is disheartening that the Buhari administration is destroying the Nigerian economy and our collective future by the implementation of his archaic and incoherent economic policies which failed in 1984-85 and are failing spectacularly now,” Adeyanju said.
“Our dismay is worsened by the fact that every sphere of the Nigerian socio-political space (ranging from the conduct of elections, human rights, respect for the rule of law, security, technology, health etc) is negatively affected by the Buhari administration.
“We join all well meaning Nigerians to call on Buhari to resign if he is unable to reverse the disastrous economic decline he has brought on Nigerians.”
In another development, President Buhari has asked Nigerians to be patient with his administration following the current economic challenges in the country.
On Thursday, July 21, 2016, the minister of finance, Kemi Adeosun, admitted that the Nigeria’s economy is in recession.
Buhari also assured Nigerians that the current hardship will soon give way to development.
The President said this in Osogbo, during his visit to Osun state today, Thursday, September 1, 2016.
Buhari said ” We promised Nigerian people positive and progressive change during our campaign. We are not and shall not be deterred from that noble undertaking. “But as we have learnt from history, change has never been attained by any nation on a bed of roses, but rather, through patience, perseverance and steadfastness.
“We are quite aware of the pains and inconveniences that have been the lot of the citizenry in the past one year as we strive to faithfully implement our programmes in fulfilment of our change agenda.
“We are however comforted by the real change and progress we have made in fighting corruption and restoring integrity to government; providing security for lives and property; and positioning the government for effectiveness and especially deregulating the oil sector.
“We must also not forget the fiscal discipline that has now characterised government business at all levels. This indeed is how it should be and we are determined to introduce and implement actions and measures that will entrench the change mantra in our individual lives just as we are doing in curtailing excessive waste and rent seeking in governance.
“We are determined to remain on track as we strive to deliver to rescue the country from past mistakes in fulfilment of our promise of improving the conditions of our people and making Nigeria a prosperous country.”
The National Bureau of Statistics (NBS) in a recent report stated that over 4.8 million Nigerians lost their jobs since the beginning of the President Buhari’s administration.
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