The Peoples Democratic Party (PDP) has asked President Muhammadu Buhari and his All Progressives Congress (APC) to “accept failure and allow competent, transparent and honest hands to effectively manage the economy, as the only way to save the nation from imminent economic collapse.”
In a statement by the National Publicity Secretary, Kola Ologbondiyan, it asserted that the report by the “National Bureau of Statistics (NBS) that the nation’s economy has plunged into another recession under the APC” confirmed its stand that the “Buhari Presidency and the APC lack the competence and integrity to run a national economy.”
The main opposition party lamented that the Nigerian economy, which was rated as one of the “fastest-growing economies of the world when the APC administration took over”, had suffered such “damage within just six years.”
PDP stated: “Indeed, President Buhari will be the first president, in our history, to score a hat-trick, in plunging his nation into economic recession, both as a military and civilian leader.
“The economic recession we face today is a fallout of President Buhari and APC’s restrictive, vindictive and anti-trade policies, bizarre foreign exchange controls and monetary policies that impede growth, an over-bloated public sector that encourages waste and incurable corruption, reckless treasury looting, and failure to decisively deal with the escalated insecurity, which has destroyed economic activities in most parts of our country.”
It added: “This style has crippled domestic production and competitiveness, eroded investors’ confidence, and occasioned a dearth in foreign direct investment, leading to the economic contraction we have continued to witness under Buhari’s watch.”
The party charged the Nigerian leader to “end the corruption and divisive tendencies of his administration and allow a free market economy so that more Nigerians will actively participate in the economic space to boost our productive sectors and bring our economy back to its feet.”