N22trn Debt: PDP Blames Buhari, APC For Wrecking Nation’s Economy

trillion national debt burden accumulated by Nigeria, citing the poor understanding of current global economic dynamics and alleged cover of humongous corruption in the presidency as being responsible for what it called a wrecked national economy. The opposition party added that the nation would not have been in this current economic situation if President Buhari heeded their counsel to allow competent hands manage the nation’s economy as well as refusing to continue providing official cover for alleged corruption in his Presidency. The PDP national spokesman, Kola Ologbondiyan, added that since President Buhari assumed office and “took control of our once robust economy, his administration has not been able to articulate any germane policy to sustain, let alone, grow the economy, but had instead, resorted to borrowing, while allowing his cronies and APC leaders to fritter away trillions of naira earned by the nation in the last three years.” The opposition party in a statement further said that the Buhari administration was bound to accumulate debts because it has “continued to cover up corrupt practices under its watch, including the alleged stealing of N9trillion, through underhand oil contracts in the NNPC and Ministry of Petroleum Resources as well as the alleged illegal lifting of crude oil worth N1.1 trillion by 18 unregistered companies to service APC interests, among others. “Moreover, the Buhari Presidency has refused to explain the whereabouts of trillions of naira unremitted oil revenue, resulting in the deadlock at the Federal Accounts Allocation Committee (FAAC).