PDP: Buhari lacks clearcut fiscal policy direction

The Peoples Democratic Party (PDP) has urged the President Muhammadu Buhari administration to pay urgent attention to the management of the nation’s economy instead of attacking perceived political opponents.

The party said its worry stemmed from the fact that the economy had remained on rapid fall for the last four months apparently due to the “absence of clear-cut fiscal policy direction” and an economic team to deal with the domestic and global challenges associated with a developing economy”.

The PDP, through its spokesman, Olisa Metuh, said in a statement on Monday: “Whereas the PDP is in full support of the president’s efforts in tackling corruption and insurgency, the party is however concerned about the grave economic situation we now face, as well as indices from global economic watchers, which this administration has failed to give deserving attention, despite its predictable negative impact.”

The party said it was duty-bound, beyond politics, to draw the president’s attention to the fact that under the prevailing circumstances, the nation was evidently heading to economic doldrums.

“Mr President, this is no longer about politics and partisanship. It is about the economy of our dear nation and the wellbeing of the Nigerian citizens,” it said.

“Recall that we have severally in the past, drawn attention to official reports showing that the unemployment situation in the country as well as inflation rate are growing at frightening dimensions, not to talk of the continued decline in domestic and direct foreign investments, all due to uncertainty created by the lack of economic direction of APC-led administration.

“The situation has become even of utmost concern following the failure of this administration to articulate any interventionist policy at this critical moment, when credible global economic monitors have continued to predict that oil price may fall as low as $20 per barrel.

“It is worrisome that whilst other countries are taking deliberate steps to enhance their investment profiles and hedge their economies at this time, the APC-led federal government has done nothing in that direction, but has centred on partisan politics and witch-hunt of perceived opponents, while the economy remains vulnerable and unattended to.

“We caution strongly that this approach to governance is not healthy for our nation. Indeed, the time has come for Mr President to end the apparent lethargy in his administration and take urgent step to set up a crack economic team of experts to immediately swing into action and salvage the situation by opening up all economic outlets, which have been stagnated in the last four months.

“In managing this economy at this time, we urge Mr President, as the father of the nation, to look beyond partisan politics and ensure that the policy frameworks and populist economic projects laid by the PDP administration, especially in the non-oil sectors are not allowed to rot, but adequately utilised for the good of all.

“In this regard therefore, we wish to draw attention to various agricultural projects and programmes established by the PDP, especially in the northern states, such as various dams and irrigation projects, the e-wallet financial empowerment system to farmers, associated to the over 2 million direct farm jobs, as well as the Green Belt project under Presidential Initiative on Afforestation in Kano and 10 other northern states, all in line with PDP’s agenda to return the region as the food basket of the nation.

“The PDP believes that in the interest of millions of Nigerians citizens who look up to the political class for direction, it is now imperative on the APC-led federal government to pay deserving attention to the economy and continue the policy of the past administration of opening the space for harnessing indigenous potentials.

“Finally, we wish to reassure that the PDP, as a responsible party, will remain committed to providing credible and robust alternatives and views to government policies and programmes, in the general interest and well-being of the Nigerian people”.