Obasanjo’s letter: APC cooked-up indices to cover Buhari’s failure

The Peoples Democratic Party (PDP) on Thursday said the indices presented by the All Progressives Congress (APC) controlled Federal Government in the attempt to justify its claimed achievements in almost three years of governance were cooked up and will be unhelpful to President Mohammadu Buhari at the 2019 elections. The party further said the Federal Government arrogantly issued misleading indices at a time it ought to be very sober for its failures, thereby exposing the level of scorn and disdain it has for suffering Nigerians.

The statement reads: “In its attempt to further hoodwink Nigerians, the Federal Government through the minister of information cleverly stated that the nation’s Foreign Reserves had risen to $40bn, while covering the fact presented by the National Bureau of Statistics (NBS) that our foreign debt has also escalated to $15.2bn under APC’s misrule. “This is also a government whose domestic debt profile has scared many contractors off their sites and forcing millions of Nigerians into the labour market while development projects initiated by the PDP across the nation remains stagnated.

“The Federal Government also failed to inform Nigerians that other foreign financial instruments are being depleted, including the Excess Crude Account (ECA), from which they attempted to pilfer $1bn last year.

“It is ridiculous for the APC-led Federal Government to rely on an NBS report in giving an impression that the nation’s inflation rate has fallen at 15.37% while hiding the fact that inflation rate as at May 2015, when it took over rein of governance from the PDP, was 13.7%. “This is even as the soaring price of commodities exposes the fact that 15.37% is not positive, as the APC government wants Nigerians to believe. The fact is that the APC is plunging the nation into deeper economic woes while trying to sugarcoat the issues with figures.

‘Furthermore, the Federal Government attempted to delude Nigerians by claiming that the naira has become stable while glossing over the fact that it fell from about N165/1USD in 2015 to the current appalling N360/1USD. “This is in addition to phony claims of increase in foreign capital inflow of $1.8bn, while refusing to address facts from NBS that under their misrule, 16 million Nigerians are unemployed, 18 million more are underemployed while another 27.44 million refused to work in 2016 for various reasons not unrelated to frustration in the polity.

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Author: see naija

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