The Peoples Democratic Party on Wednesday railed against President Muhammadu Buhari, accusing his administration of incompetence, and saying he should step down after the nation slipped into economic recession.
“We join 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,” the party said hours after figures released by the National Bureau of Statistics confirmed that Nigeria had slipped into recession.
The NBS said Nigeria’s Gross Domestic Product contracted by 2.06 per cent, marking the first major recession in 29 years for Africa’s largest economy.
Analysts have long predicted that Nigeria’s economy was heading for a recession amid a shrinking naira and diminishing revenues occasioned by low crude prices.
The downward spiral has led to an increase in the number of Nigerians struggling to eke out a living, fueling fears of an outbreak of social unrest.
Behavioural economic experts and religious leaders recently raised concerns about the dangers of leaving the country’s expanding youth population without means of livelihood for too long.
The PDP in its statement Wednesday saw the crisis as a direct consequence of Mr. Buhari’s “ineptitude and incompetent” approach to economic management which were a rehash of the “archaic and incoherent economic policies” he similarly pursued as the head of a military junta between 1983 and 1985.
“Nothing better showcases the absolute ineptitude and incompetence of the Muhammadu Buhari administration than the GDP, Inflation and unemployment figures released by the Nigerian Bureau of Statistics today,” the PDP said in a statement signed by Deji Adeyanju, its director of new media.
“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.”
“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,” Mr. Adeyanju said.
Mr. Adeyanju also quoted key aspects of the detailed data as released by the NBS on Wednesday and compared them with what they were before his party was voted out in 2015 after a 16-year streak.
“Portfolio investment declined to an estimated $245.3m in Q2 2016. This represents a 9.5% from $271.0m in Q1 2016 & is a far cry from $2.81bn in Q2 2015,” Mr. Adeyanju said. “A total of 4,580,602 people have lost their jobs since May 29, 2015.”
The Buhari administration, in a statement Wednesday afternoon, acknowledged the gloomy economic data, but assured of improvements in an apparent bid to assuage the fears of Nigerians.
“The just released GDP figures for the 2016 second quarter by the National Bureau of Statistics while confirming a temporary decline, has (sic) also indicated an (sic) hopeful expectation in the country’s economic trajectory,” the State House said in a statement signed by Laolu Akande.
The administration attributed the negative results to the activities of oil vandals and said other aspects of the economy were yielding intended results, indicating that Mr. Buhari might not be ready to accept growing calls for a new policy direction.
“A close look at the data shows that this outcome was mostly due to a sharp contraction in the oil sector due to huge losses of crude oil production as a result of vandalisation and sabotage.
“However, the rest of the Q2 data is beginning to tell a different story. There was growth in the agricultural and solid minerals sectors which are the areas in which the Federal Government has placed particular priority,” Mr. Akande said.
But the PDP, in its statement, said it was unimpressed by the administration’s explanations, saying it had observed a worrisome trend in the polity.
“Our dismay is worsened 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 the Buhari administration,” Mr. Adeyanju said.
PDP you no dey shame, na you guys put the country in this situation, stealing is not corruption
ReplyDeleteMumu,! That how you people continue to die in hunger ignorance deprivation perjury and you people continue to praise and sheepishly follow the same elites and people that have over the years continued to pauperize subjugate and impoverish you people.Idiotic fool. Have you ever asked yourself why the hgsp between the have Nd have not keep increasing in Nigeria? The same in APC today were in pdp yesterday and may be in Gcf party tomorrow. Mumu! Think of what can improve you and common good not about how a few people will continue to thin manipulate and destroy our commonwealth. Idiot. Continue to beat the drums for those few selfish individual because of the little money they give you during election by the time hunger knocks at your door you will be able to understand. It is not about party but about saving Nigeria for our children. Said Baba. Long live Nigeria!
DeleteShut your dirty trap called mouth. Did the PDP hand over a collapsed economy to this clueless regime? Economic distress started in 2014 but we didn't feel it because better policies were in place to check mate the economic condition we were in by then, TSA was introduced by GEJ's administration but has a time frame for its implementation, but this clueless regime rushed it causing a lot of problems in the banking sector. This clueless regime introduced stupid forex policies which made a lot of foreign investors pull as much as $80bn from our economy causing the naira to crash further though the fall in crude oil price has its own consequences on the naira but the forex restriction caused the bulk of it.
DeleteImagine Lamido Sanusi (HRH) criticising PMB for his stupid forex policy where certain individuals are taking advantage of to make huge profit without investing a dime.
My friend, if don't know what to say, you better keep shut, Nigeria's current economic woes is not as a result of PDP misrule as u guys put it but it's as a result of PMB's bad economic policies.
The earlier you understand that there is no difference between these political parties, the better for you. El'Rufai, Amaechi, Ngige, Saraki,Dogara, Atiku, Baraje, Tambuwal, Aminu masari and a host lot of other are from where? Tinubu, Lai, Fashola, Onu, are all others from where? 99.9% of people ruling this country are all involved in one way or the other in the past 16yrs so u better shut your trap.
The day sentiments will play no part in determining the factors of index of oppression on the oppressed will be a day when some like brains will be free from mental slavery. Awakening, the up remains in slumber of all sectors. Shame on this farce called CHANGE.
DeleteWhat do you know. No b to chase Malu (cow). Dullard incorporated.
Deleteyou are very stupid for this your comment sir, are you enjoying what is happening in this country?
DeleteThis president lack all it takes to revive the broken Economy. What happen to USA before Obama came in as the president. The world Economy was very bad ,that it was called Economy meltdown. USA Unemployment hit 9.2%,companies has to move out of USA to China. One year later,Obama revived USA Economy with the right minded Economy team. We have Ph.D. in Economy,Professiors in Economy,Master degree holders in Economy, so PMB can't find perfect Economic teams to fix the problems rether then blame ppl for his failure. The same people came telling us that Nigerian Economy then, was really bad that they are ready to fix it if voted into power. They promise 1 naria to a dollar, dollar was 165 naria then,fuel was sold @ 85. Fuel will be sold at good price,Electricity will be fixed. etc. to start with Electricity tariff jump to 65% still no light,fuel is been sold for 145,143,142/ liter. Unemployment hit 9.6% with one year plus APC in power. Hunger every where in the country.
DeleteCorruption.
APC claim that they have recover billions of naria from past government looters. has this money be injected into the Economy...since the money was for Nigerian.
Budget padding is fading away from the headlines because is APC factions.
I'm not PDP neither am APC member but this government should put the past behind them and face the reality, voters voted them in to change the mess now is as if the ppl voted in has lost direction.
But Mohammed, Buhari was elected to solve those problems. He should stop the blame game and face the problems like a tough man he said he is
DeleteAnd buhari, amaechi, fashola and oshemole are not corrupt
DeleteIn fact they have not only disappointed Nigerians but themselves. It is a shame. PDP which most of apc members belonged to whipped Nigerians with whip but today apc is whipping Nigerians with whip and scorpion. Nigerians are dying daily of hunger starvation and hopelessness. So this the change? May God save us from their hands.
ReplyDeleteNdi Ojoo, bad people. You guys are not ashamed of yourselves. Nwanne the worst government in Nigeria is better than pdp's government. Please if you guys have something better to say, we are listening.
ReplyDeleteShatap muhamed d gave dat old bafoon a better nigeria and economy, and d bastards moduled up every tin and u have d temerity 2 talk like 1 drunk on brukutu. Dis idiot should be shoved out of power cos all he does smacks of illiteracy and lack of. Education.
ReplyDeleteIs PDP still in existence?😃😃😃😃
ReplyDeleteYes I agree with you that he should resign. But who will take over? PDP? Never again? If u people think PDP can rule again very soon you are only daydreaming. You ruined d economy before you were pushed out of power.
ReplyDeleteNigerians need to cut all the tree in the country, turn them to cain and flog the hell out of all the PDP members...Upon all the money you stole from the Treasury you still have mouth to talk...Shameless people.
ReplyDeleteThe shameless PDPigs have no moral standing to issue or demand PMB's resignation. What we are going through and the suffering we are all experiencing were as a result of their corruption and recklessness in managing our finances during the time of boom and plenty when they stole our collective wealth and share among themselves. May God make their lives and anyone who support them the way they did to Nigeria when they were in government. Amen. Buhari will take us out of our present economic situation but only if we persevere and give him our support.
ReplyDeleteOnly if you these wicked, Carlos, thieves, selfish, arrogant, 'Olori buruku' Ole, omo ako ti le ta PDP members had invested all the huge money you stole from Nigeria and Nigerians in this country on so much of capital projects and infrastructures instead of siphoning the loot abroad and buying private properties all over the world, we wouldn't have found ourselves in this shit. All your generations regardless of assets you have illegally acquired at the expense of the rest of the Nigerians you have put in an hunger and angry situation will never see peace.
ReplyDeleteThis is what 16 years of PDP has lead Nigeria to. The same way after 16 years, your party is in recession too.
ReplyDeleteWhat is going on in PDP party is the same thing that is happening in Nigeria.
THE EVIL PDP DID IS SO CLEAR.
Pdp, when the oil price was $120 per barrel (3 times its current price) and oil production was twice the current level, what wealth did you save for this country? Instead everything was statched in private accounts abroad and septic tanks in your homes. We are suffering from your 16years of corruption and destruction. It takes more years to build than to destroy. Fools!
ReplyDeleteIt is not their fault. PMB refused to probe them and bring them to book. They are allowed to wail. We shall see the end if they taught Nigerians are blind. Which PDP is even talking, is it Makarfi or Ali Modu Sheriff?
ReplyDeleteGet out Sanusi,it seems you belong to these APC carcus. For your information Nigerians'are tired of Buhari and his government, people are committing sucide, dying any how, stealling, killings, frustration evrey where.Even Buhari government is worst than Jonathan government, I beg..........
ReplyDeleteMohammed Sanusi, you are a complete STUPID HAUSA GOAT. Instead of rallying round your idiot goat-head buhari to see how to salvage the economy he destroyed,you are busy blaming someone who handed you a stable economy. He wants to be president at all costs,let him deal with it or die in it.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteFellow Nigerians, this is NOT a matter of PDP or APC problem, but a pinch on the nerve to the whole nation. It's not a question of crude oil price or corruption but a clear issue of gross incompetence in the management of the economy.
ReplyDeleteThis remains factual because there are a lot of human capitals even in the APC that could've better managed the present state of affirs far more than Buhari. But due to sentiments the APC preferred to suffer Nigerians to bringing a man who's utterly disoriented in present day politics coupled with his poor educational background into the seat of power. This truth appears irrefutable because with an educated competent politician, inflation CANNOT increase steadily in 9 months without a successful enacted political willpower to mitigate it.
And it's high time we Nigerians should cast away sentiments and start looking inwards to filter out who the crown really fits without reference to religion, tribe and political party. But referring to one's educational background and present state of competence in morden politics will save Nigeria.
This hold true because if it were in today's labour market, President Buhari will be found unqualified (for any political post) before any good employer because he's political status has been long outdated. Since after 1983 President Buhari remained dormant and irrelevant in the political terrain and has never engaged himself in any political development programme to update himself. This remained static even after he became the PTF Chairman in the late 90s. And all those years he was contesting for President there's no evidence that he equipped himself with a better leadership skill to combat the complex democratic religioethnopolitical nature of Nigeria
Therefore, it is NO surprise that a child who chosed not to prepare for his /her difficult exams will fail woefully. That said, I strongly ascert that President Buhari will do himself and Nigeria a lot good by resigning NOW!!!
Nigerians who believe this stupid PDPigs are really a sorry bunch. Even if PMB is incompetent, how does someone in his right senses state that the bigger percentage of blame for this economic crisis the country is in is bcos of him? Nigeria is in famine. Do you prepare for famine during famine or before famine hits you? How does a country come out of the biggest boom period of oil in history poorer than it went in and you turn around and blame the man who came in during the bust period?
ReplyDeletePMB may not be a messaiah, may be incompetent or whatever anybody wants to brand him but please do not insult our collective intelligence with this nonsense call for his resignation. And if you think he should resign, then all those who stole our commonwealth during GEJ should be brought into public glare and butchered like rams!