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PDP governors list Buhari regime’s economic woes, boast better leadership

PDP governors list Buhari regime’s economic woes, boast better leadership

Buhari hates with passion

The Peoples Democratic Party Governors’ Forum has condemned the administration of the All Progressives Congress for inflicting terrible hardship and suffering on Nigerians.

This was contained in a communiqué published at the end of the forum’s meeting in Aba, Abia State, on Wednesday, and was read by the forum’s Chairman, Aminu Tambuwal of Sokoto State.

The governors indicated that the PDP was prepared to take over and provide qualitative leadership options to save the country from near-economic collapse caused by the APC’s inability to function as a viable political party.

The forum bemoaned the fact that Nigerians were suffering in nearly every aspect of their lives.

It noted that life was much better in 2015 under the PDP than today under the APC as exemplified in the comparative indicators obtained from the National Bureau of Statistics.

The communiqué stated in part, “Diesel, which is critical for the running of SMEs, was N131.47 in 2015, it now costs above N700. Fuel: official and black market was N87/155 in 2015, it now costs N167/350. Aviation fuel/air ticket rate on domestic flights were N110 per litre/N18,000 in 2015, they now hover around N700 per litre/N70,000, where available. Indeed, the scarcity of fuel, which has resulted in the loss of several man hours, is a disgrace to Nigeria.

“The collapse of the national grid (126 times in seven years – June 2015 to March 2022 – and its consequences for non-availability of power is most unfortunate. Kerosene used by the ordinary Nigerians for cooking and power was N180 in 2015, it now sells at N450.

“Liquefied Petroleum Gas – 12.5kg cylinder sold for N2,400 in 2015, is now sold at between N8,750 and N10,000. Prices of basic foodstuffs are now three times higher than what they used to be in 2015. Staple foods such as rice, beans and cassava flakes are now slipping out of the hands of average Nigerians. Indeed, a bag of rice sold for N8,500 in 2015 is now N39,000.

“Electricity was N14.23 per kilowatt in 2015, it is now N38.53, and not even available. Unemployment rate was 11.4 per cent in 2015, it is now over 33 per cent, one of the highest in the world. The poverty rate in 2015 was 11.3 per cent but now about 42.8 per cent. Accumulated inflation in 2015 was about four per cent, it is now 15.50 per cent; inflation rate was 9.01 per cent in 2015 and now 15.7 per cent.

“Perhaps the exchange rate has been one of the most disastrous. N150 to a dollar was the parallel market (patronised by most businessmen and Nigerians) rate in 2015, it is now about N580 to $1 in the parallel market and still rising.

“Debt and debt servicing: Domestic debt of N8.4tn and external debt of $7.3bn was incurred between 1999 and 2015. While domestic debt of N7.63tn (June 2015-Dec 2020) and $28.57bn as of December 2020 was incurred. External debt of $21.27bn was incurred between June 2015 and 2021. The national debt to GDP ratio was 23.41 per cent in 2016, it is now 36.88 per cent.

“The major threat to the agricultural sector and food security in Nigeria is insecurity. In the North-East of Nigeria, it is estimated that no fewer than 70,000 hectares of arable farmland have been abandoned in the affected states and local government areas.

“The trend is the same all over the country. This further contributes to food inflation. The APC-led Federal Government must take steps to cooperate with states to bring security down to the grassroots.”

The meeting also expressed concern over reports of stealing of crude oil ranging from 80 per cent to 95 per cent of production made by industry practitioners and called on the Federal Government to set up an appropriate mechanism to reverse the trend and bring the perpetrators to account.

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PDP governors list Buhari regime’s economic woes, boast better leadership


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