The All Progressives Congress APC, Thursday launched an
acerbic counter-attack on the opposition-Peoples Democratic Party PDP, accusing
the party and Nigeria’s past presidents produced under its platform of bringing
the current economic recession upon the nation. It said the 16 years misrule of
the PDP plunged Nigeria into the current economic chaos. PDP’s several years in
power produced ex-presidents Olusegun Obasanjo, Umar Musa Yar’Adua and Goodluck
Jonathan.
It said, the statement by the Peoples Democratic Party (PDP)
on Wednesday “is the latest in the party’s insensitive plot to deflect
attention from the voodoo economics and reckless fiscal policies the country
was subjected to during its 16-year rule.
“The warning signs were glaring to the immediate-past
administration but it choose the path of economic sabotage by looking the other
way and squandering the country’s commonwealth – a reckless decision that has
brought the country to its knees”, APC stated. The party in the statement
signed by its national scribe, Mai Mala Buni was formally reacting to attacks
by the PDP on the President Muhammadu Buhari’s lack of capacity to steer the
economy. Following the official declaration by the National Bureau of
Statistics NBS that Nigeria’s economy was in a recession, the PDP had taken APC
to the cleaners, saying the ruling party is confused as to how best to manage
the economy and reverse its dwindling fortunes.
Two former governors of the Central Bank of Nigeria, Prof.
Charles Soludo and Emir of Kano, Muhammad Sanusi II had recently taken a swipe
at the economic trajectory of the APC-led administration, describing it as
archaic, indefinite and rudderless. ‘President Buhari Committed To
Resuscitating Economy’ However, the APC assured Nigerians that the President
Muhammadu Buhari APC-led administration remains solidly committed to
resuscitating the economy in the quickest possible time and in the best interest
of the people. “For the umpteenth time, the PDP lacks the moral basis and
credibility to comment or condemn the government on the economy after the mess
it left behind. Instead, the PDP must apologize to Nigerians.
“Nigerians will recall that even the immediate-past finance
minister and coordinating minister of the economy, confessed that the zero
political will to save under the immediate-past administration is responsible
for the challenges facing the country”. APC listed several achievements of the Buhari
administration, saying the nation was well on the path to quick economic
recovery. It added; “Happily, the President Muhammadu Buhari administration has
embarked on well- thought economic agendas, policy actions, appropriate fiscal,
governance, and socio-political reforms to revamp the economy and tackle the
nation’s current challenges in the short to long term.
“Under the new flexible foreign exchange policy introduced
by the Central Bank of Nigeria (CBN) in June 2016, we now have a single
market-determined exchange rate which enables suppliers of foreign currencies
to bring in their money and take the same out at market-determined rates. The
new foreign exchange policy being implemented will ensure our economy recovers
in the medium to long term. “As contained in the assented 2016 National Budget,
the administration of President Muhammadu Buhari is aggressively formulating
and implementing policies aimed at diversifying Nigeria’s economy from oil to
other sectors such as agriculture, mining and manufacturing.
“The administration is also proactively tackling increased
attacks on oil facilities in the Niger Delta region which has led to
disruptions in crude production. “The President’s shuttle diplomacy has yielded
positive effects on the country’s economic policies. As a result, several
agreements concluded during the visits are positively impacting on key sectors
of the Nigerian economy including power, solid minerals, agriculture, housing
and rail transportation.
“The fight against corruption remains a top priority for the
President Buhari APC-led administration. In spite of desperate attempts by some
partisans to discredit anti-corruption efforts in some quarters, the war
against corruption is being won and has been well-received and supported. The generality
of Nigerians agree that the days of impunity are over. “Through the full
implementation of the Treasury Single Account (TSA) by the President Muhammadu
Buhari APC-led administration, revenue leakages have been greatly plugged.
“The new petroleum products supply and pricing framework
which eliminated corruption-tainted subsidy payments has among others greatly
solved fuel scarcities by ensuring availability of products at all locations in
the country; reduced hoarding, smuggling and diversion substantially and
stabilise price at the actual product price; encouraged investments in both
Refineries and Retails; provided Government more revenue to address social and
infrastructural needs of the country.
“In line with the
critical infrastructural focus of the President Muhammadu Buhari
administration, an unprecedented 30 per cent of 2016 budgetary provision has
been committed to capital projects. “As the administration works assiduously to
build a new solid foundation, credible image and pull the country out of the
present hardships, the APC appeals for patience and cooperation from
Nigerians”, APC pleaded.
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