The Peoples Democratic Party (PDP), on Wednesday,
took a swipe at the President Muhammadu
Buhari-led Federal government,
over the statistics released by the National Bureau of Statistics
(NBS), which shows a negative growth in the first two quarters of the year.
PDP in a statement signed by its Director,
New Media, Deji Adeyanju and made available to pressmen stated
that nothing better showcases the incompetence of the Buhari
administration than the GDP, Inflation & Unemployment figures released by
NBS.
The statement in
full,
“PRESS STATEMENT –
PRESIDENT MUHAMMADU BUHARI IS COMPLETELY DESTROYING NIGERIA
Nothing better showcases the absolute ineptitude &
incompetence of the Muhammadu Buhari administration than the GDP, Inflation
& Unemployment figures released by Nigerian Bureau of Statistics today.
These figures reveal what we have repeatedly said over the
last 15 months – the Nigerian President is destroying the Nigeria economy. For
the avoidance of doubt, some of these figures include: GDP
contracted by -2.06% in Q2 2016. In
contrast, the economy grew by 2.35% in Q2 2015. Q2 was worse than the -0.36%
shrinking of the economy in Q1 2016. Headline Inflation for July 2016 stands at
17.1%. It was from 16.5% in June 2016. Food inflation was 15.58% for July 2016
from 15.3% in June 2016. Buhari presides over FEC meeting in State house
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. FDI declined from $211.1m in Q2 2015 and $174.4m in Q1 2016 to an
estimated $133.0m in Q2 2016.
PRESS STATEMENT – @MBUHARI IS COMPLETELY DESTROYING NIGERIA
pic.twitter.com/YsiQs8i9Oe PDP Nigeria (@PdpNigeria) August 31, 2016 –
Total
value of capital imported in Q2 2016 is estimated at mere $647.1m. This is the
lowest quarterly figure since Nigeria started keeping records of capital
importation. It is a decline from $710.9 m in Q1 2016 & a far cry from
$2.67bn in Q2 2015. A total of 4,580,602 people have lost their jobs since May 29,
2015 The number of persons in full time employment decreased by 351,350 in Q2
2016 compared to Q1 2016.
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 1 year. Furthermore, like we suffered in 1984-85, we are suffering
a brain drain where our best & brightest talents are leaving the country in
search of a better life elsewhere.
It is disheartening that the Buhari
administration is destroying the Nigerian economy & our collective future by
the implementation of his archaic & incoherent economic policies which
failed in 1984-85 & are failing spectacularly now. 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. We join all well meaning Nigerians to call on @MBuhari to
resign if he is unable to reverse the disastrous economic decline he has
brought on Nigerians. May God bless Nigeria, especially in these very difficult
times.
Signed: Deji Adeyanju
Director, New Media
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