Connect with us

Politics

Resign, you’ve destroyed Nigeria with archaic economic policies, PDP tells Buhari

Published

8 years ago

on

Buhari's
As Nigeria slipped into economic recession, the Peoples Democratic Party (PDP), has branded President Muhammadu Buhari an incompetent leader and asked him to tender his resignation letter.
 The party made this call on Wednesday in a statement signed by its Director of New Media, Deji Adeyanju.

PDP said that it “joins all well-meaning Nigerians to call on Mr. Buhari to resign if he is unable to reverse the disastrous economic decline he has brought on Nigerians.”

PDP’s statement came just hours after National Bureau of Statistics (NBS), released figures confirming that Nigeria had slipped into recession.

 According to the NBS report, Nigeria’s Gross Domestic Product (GDP), contracted by 2.06 per cent, marking the first major recession in 29 years for Africa’s once largest economy.

Based on the NBS report, PDP tagged President Buhari’s administrative approach to economic management as “archaic and incoherent,” adding that it was the similar approach Buhari pursued as military head of state between 1983 and 1985.

 Part of the statement reads, “Nothing better showcases the absolute ineptitude and incompetence of the Muhammadu Buhari administration than the GDP and inflation and unemployment figures released by the Nigerian Bureau of Statistics today.
“The result of these indices is that Nigeria is in its worst economic state for 29 years —dating back to 1987 when the nation had to take harsh steps to recover from President Buhari’s policies of 1984-85.

Read also: Economy: The times are confusing, but we’re focused, Adesoun declares

 “As with 1984-85, companies are fleeing our shores in droves. Manufacturers Association of Nigeria (MAN) recently stated that 272 companies have shut down in the past one year.

“Portfolio investment declined to an estimated $245.3m in Q2 2016. This represents a 9.5 per cent from $271.0m in Q1 2016 & is a far cry from $2.81bn in Q2 2015. A total of 4,580,602 people have lost their jobs since May 29, 2015.

 “It is disheartening that the Buhari administration is destroying the Nigerian economy and our collective future by the implementation of his archaic and incoherent economic policies which failed in 1984-85 and are failing spectacularly now. Our dismay is made worse by the fact that every sphere of the Nigerian socio-political space (ranging from the conduct of elections human rights, respect for the rule of law, security, technology, health etc) is negatively affected by Buhari’s government.”

By Ebere Ndukwu …

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Related Topics:
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

two × four =