Jonathan Is Driving Nigeria into Economic Wilderness – Buhari
The Presidential candidate of the All Progressives Congress (APC), Muhammadu Buhari has raised an alarm that President Goodluck Jonathan is driving Nigeria into economic wilderness.
Buhari said this in a statement by the Director of Media and Publicity of the APC Presidential Campaign Organisation, APCPCO, Malam Garba Shehu.
He notes that: “It is crystal clear that our revenues are dwindling by the day and if we must survive, we cannot continue on this path of near absence of accountability, mismanagement, outright waste and jamboree that has characterised the management of public resources under the Jonathan-led PDP government.
“It is apparent that the Federal Government has suddenly found itself in a bind with plummeting crude oil prices in the international market, but typical of a team that lacks capacity for anticipatory actions, the Federal Government has been running from pillar to post in a vain bid to stabilize the economy.”
Buhari laments that so far Jonathan’s efforts to rescue the dwindling Nigeria economy have not gone far enough, as they are mere scratch on the surface that have left Nigerians confused and hungrier.
He explains that “With external debt standing at more than $10 billion and our internal debts at more than $50 billion, it is without doubt that President Jonathan is driving Nigeria into economic wilderness. This should be a cause for concern for all well-meaning Nigerians, more so when the Federal Government responses to these rising economic challenges have, at best, been casual.
“Emblematic of this casual, non-profound approach to the management of the national economy is the Central Bank of Nigeria’s devaluation of the national currency in November 2014 while retaining the Retail Dutch Auction System (RDAS).\
“Dramatically, just under three months after that devaluation, the CBN, obviously buffeted by unanticipated dynamics in the foreign exchange market, announced the closure of the RDAS and the Wholesale Dutch Auction System (WDAS). This shows clearly an uncoordinated template in the management of the national economy.”
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