The Peoples Democratic Party governors have decried the poor state of the economy under the present administration led by President Muhammadu Buhari.
In decrying the state of the economy, the PDP governors said 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.”
They said that under the PDP government in 2015, the exchange rate was N198 per Dollar, it is now almost N500 to a Dollar under APC In 2015.
On unemployment, they knocked the Federal Government for the increasing number of unemployed Nigerians.
According to them, the unemployment rate was 7.3% under PDP, adding that it is now 33%, one of the highest in the world under APC.
The governors added, “In 2015, the Pump price of Petroleum was N87 per litre, it is now N165 per litre and climbing under APC. Debt Servicing now under APC takes over 98% of the Federal budget. The tales of woe is endless.
“In particular, it is clear that the APC Government is a massive failure when compared with the records of PDP in government. The PDP handed over a $550 billion economy (the largest in Africa), but under APC, Nigeria is the Poverty Capital of the world.”
On the Electoral Act Amendment Bill, the governors asked the National Assembly to quickly conclude deliberations on the bill.
Specifically, they urged the federal lawmakers to either override President Buhari’s veto or delete areas of complaints.
The governors explained that an early concluded Electoral Act is vital for credible elections.