How Buhari ruined Nigeria’s economy with bad economic policies – PDP

The Peoples Democratic Party (PDP) has said that President Muhammadu Buhari, brought the present economic meltdown in the country through his bad policies.

It therefore suggested that the way out is for the president to employ the services of economic experts.

According to the party, President Buhari-led government bad policies as well as high taxations with little or no economic activity, led the country to the present economic recession with attendant costs of “extreme hardship, starvation, deprivation, insecurity and rise in ethnic, sectional and political agitations for self-determination.”

The PDP therefore called on President Buhari to speedily employ the services of economic experts to help his administration marshal out workable policies that would restore the nation’s battered economy.

This was contained in a New Year message of PDP’s Caretaker Committee National Chairman, Senator Ahmed Makarfi, to Nigerians and made available to newsmen by the National Publicity Secretary of the party, Prince Dayo Adeyeye.

The statement read, “The National Chairman of PDP, Makarfi, on behalf of all organs of the PDP and its family nationwide, compliment Nigerians as we usher in the New Year 2017.

“We charge Nigerians in this New Year to work harder and trust in their capacities to surmount the current economic condition in the country by the grace of God. The bad policies of the All Progressives Congress, APC-led government, no doubt, have occasioned this economic recession with its attendant consequences of extreme hardship, starvation, deprivation, insecurity and rise in ethnic, sectional and political agitations for self-determination.

“The ‘transformation agenda’ of the last PDP administration brought a lot of hope to Nigerians, the African sub region and our economy at large. Nigeria’s economy, before handing over to the APC in May 2015, was declared the largest and the fastest growing in Africa (number one) which is now nowhere near number 30. Why is that? Incompetence it is.

Read also: SAMBISA: PDP says FG lied, presented fake flag

“It is no gainsaying that the PDP had better policies and programmes of reforming Nigeria’s economy to provide better living condition for its citizens’ well-being, which it did. We hope the government of the day changes its policies of high taxations with almost non-economic activity while providing palliatives in 2017 to reduce the effect of the recession, and the country will be better for it in the coming years.

“Against this backdrop, we again advise the APC-led administration in this year 2017 to urgently employ the services of economic experts to put in place viable policies that will revamp our ailing economy.

“We are presently in recession because of significant decline in government business in both internal and external spheres. The Federal Government should increase money supply, cause rise in disposable income (spending) and decrease mindless taxations which have led to high inflation and multiple prices in money market.”

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