Onyekachi Eze, Abuja
The Peoples Democratic Party (PDP) has blamed the nation’s second economic recession on four years of the All Progressives Congress (APC)-led Federal Government’s restrictive and anti-trade policies.
PDP in a statement by its National Publicity Secretary, Kola Ologbondiyan, noted that
foreign exchange controls and monetary policies of President Muhammadu Buhari had impeded the growth of the economy.
According to the party, the public sector is over-bloated while corruption, reckless treasury looting and failure to decisively deal with the escalated insecurity, combined to destroy the economic activities in most parts of the country.
“While the Buhari presidency pretends to be running a free market economy, it is in reality, running a corrupt exclusionist market economy tailored to service the interest of a selfish few while frustrating millions of hard working Nigerians with restrictive policies, lack of access to incentives and support as well as high taxes and levies.
“This has crippled domestic production and competiveness, eroded investors’ confidence and occasioned a dearth in foreign direct investment, leading to the economic contraction we have continued to witness under Buhari’s watch,” PDP stated.
It advised President Buhari to end corruption and divisive tendencies of his administration and allow a free market economy so that more Nigerians will actively participate in the economic space to boost the productive sectors and bring the economy back to its feet.
The party stated that over 60 million hard working Nigerians have been rendered redundant by the harsh economic policies, including cumbersome protocol