… Says Buhari has scored a hat-trick

PEOPLES Democratic Party, PDP, has lashed out at President Muhammadu Buhari’s administration and the ruling All Progressives Congress, APC, over Nigeria’s fall into recession.

The main opposition party described the APC as anti-people, noting that Buhari has scored a hat-trick for being the first ruler of Nigeria to plug the country into economic recession thrice.

“Accept your failure and allow competent, transparent, and honest hands to effectively manage our economy, as that is the only way to save our nation from an imminent economic collapse.

“The report by the National Bureau of Statistics, NBS, that our economy has plunged into another recession under the APC confirms our stand that the presidency and the APC lack the competence and integrity to run a national economy.

“The report shows that the Buhari administration and the APC have been lying to Nigerians with false performance claims when they know that they have, in a space of five years, wrecked and plundered our economy which was rated as one of the fastest-growing economies of the world when they took over from the PDP.

“Indeed, 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,” PDP tweeted.

The party alleged that the federal government “pretends to be running a free market economy.”

“The APC government is running a corrupt exclusionist market economy tailored to serve the interest of a selfish few while frustrating millions of hard-working Nigerians with restrictive policies, lack of access to incentives and support, as well as high taxes and levies.

“This 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.

“We call on the president 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,” it added.