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Buhari a failure for plunging Nigeria into another recession – PDP

The Peoples Democratic Party (PDP) on Sunday branded President Muhammadu Buhari a failure for plunging Nigeria’s economy to a second recession in four years.

The party in a statement by its National Publicity Secretary, Kola Ologbondiyan, urged Buhari and his party, the All Progressives Congress (APC) to accept their failure” and allow competent, transparent, and honest hands to effectively manage the county’s economy.

According to the party, the report by the National Bureau of Statistics (NBS) that Nigeria’s economy had plunged into another recession under the APC confirms its position “that the Buhari presidency and the APC lack the competence and integrity to run a national economy.”

The statement: “The report shows that the Buhari administration and the APC have been lying to Nigerians with false performance claims when they know that they have, in a space of five years, wrecked and plundered our economy, which was rated as one of the fastest-growing economies of the world, when they took over from the PDP.

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“Indeed, President Buhari will be the first president, in our history, to score a hat-trick, in plunging his nation into economic recession, both as military and civilian leader.

“The economic recession we face today is a fallout of President Buhari and APC’s restrictive, vindictive, and anti-trade policies, bizarre foreign exchange controls and monetary policies that impede growth, an over-bloated public sector that encourages waste and incurable corruption, reckless treasury looting and failure to decisively deal with the escalated insecurity which has destroyed economic activities in most parts of our country.”

On the way forward, the PDP advised Buhari to end “the corruption and divisive tendencies of his administration and allow a free market economy” so that more Nigerians would actively participate in the economic space to boost the productive sectors and bring the economy back to its feet.

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