The Peoples Democratic Party (PDP) has said it has been vindicated by the statement of ex-Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi that the gains made by Nigeria in 35 years were wiped out in the last five years. In a statement by its National Publicity Secretary, Kola Ologbondiyan, the opposition party said the Federal Government had wrecked the country.
The PDP said President Muhammadu Buhari and the All Progressives Congress (APC) had destroyed every sector of life in the last six years. The party accused the administration of incompetence, unbridled corruption, treasury looting, impunity, exclusionist and restrictive economic policies, which it said, had brought the nation to her knees.
The statement said: “Recall that the PDP handed over a robust economy rated the largest hub in Africa and one of the fastest growing in the world with Fitch B+ rating and Gross Domestic Product (GDP) of $574 billion to President Buhari and the APC in May 2015.
“Sadly, in the last six years, Buhari administration has reduced our productive sectors to a complete wreckage with alarming 33.3 per cent unemployment and 17.38 per cent inflation rates. Over 60 million hitherto flourishing businesses folded up and the naira crashing from N167 to a dollar in 2015 to N512 under the APC corrupt and directionless watch.”
The former ruling party regretted that the APC government erased all the gains made in the debt repayment by the PDP, adding that the administration had mortgaged the sovereignty of the country with reckless borrowing and accumulated N33.107 trillion.
“Life has become so unbearable in Nigeria under President Buhari and the APC that more than 82.9 million Nigerians are no longer able to afford their daily meals and other necessities of life, with our nation now ranking as poverty capital of the world and 98th out of 107 in Global Hunger Index,” it said. The party stated that the APC administration had compromised security, leading to escalation of terrorist activities, banditry, kidnapping, killing and bloody agitations as well as other acts of violence that have turned the “nation into a large funeral palour, with no hope in sight.” It urged more Nigerians, irrespective of ethnicity, creed and political party affiliation to speak out to rescue the nation from this fast descent to a failed state.