Our party handed over $500bn economy in 2015 – PDP govs

The People’s Democratic Party Governors’ Forum, on Monday, said the party handed over a $550bn economy in 2015.

It said but Nigeria “is the poverty capital” of the world under the present administration.

• Electoral Act: PDP Governors Urge NASS To Override Buhari’s Veto
• PDP schedules N/West zonal congress for Feb 12

The forum said this in its nine-point communique read by its chairman and Sokoto State Governor Aminu Tambuwal, after its meeting hosted by Rivers State Governor Nyesom Wike in Port Harcourt yesterday. 

“The Nigerian Economy has continued to deteriorate and Nigerians have become numb and accustomed to bad economic news as exemplified by the inconsistent and differential exchange rate regime, high interest rates, unsustainable unemployment figures and borrowing spree some of which have not been applied to important projects, and other bad economic indicators. 

 “In 2015, under PDP, the exchange rate was N198 per Dollar, it’s now under APC almost N500 to a Dollar; In 2015, unemployment rate was 7.3% under PDP, it’s now 33%, one of the highest in the world under APC. 

“In 2015, the pump price of petroleum was N87 per litre, it’s now N165 per litre and climbing under APC. Debt servicing now under APC takes over 98% of the federal budget. The tale of woes is endless,” it stated.

The forum also said the management of oil and gas resources and the administration of the federation account remittances had remained opaque, confusing and non- transparent.

It said the transition to the Nigerian National Petroleum Company Limited, under the Petroleum Industry Act, had not been properly streamlined to protect interests of all the tiers of government.

It alleged that from his recent comments discountenancing the proposals for state policing, President Muhammadu Buhari was unwilling to participate in reviewing the structural problems of tackling insecurity.

The forum urged Buhari to reconsider his position and consider decentralisation and restructuring of the security architecture as the most viable solution, “together with proper arming, funding and training requirements for security agencies.”