By Myke Uzendu
The Peoples Democratic Party (PDP) has mocked the Federal Government over attempts to conceal documented data on high rising debts and the alarming state of the nation’s economy which was recently exposed by the Ministry of Finance.
Former Vice President Atiku Abubakar had in a statement on Tuesday stated that the leadership of the country is “robbing our children to pay for our greed” and that if the trend is not immediately reversed, the country will be heading to insolvency, a position that was attacked by the Minister of Information and Culture, Lai Mohammed.
But PDP in a statement by its National Publicity Secretary, Kola Ologbondiyan on Wednesday maintained that nation’s economy has been mismanaged arising from excessive borrowings by the President Muhammadu Buhari’s administration.
The PDP described as scandalous attempts by the Federal government to disprove already known facts, as presented by former Vice President Atiku Abubakar, that the nation’s debt profile, under the Buhari administration, has risen to 99 percent of the revenue profile in the first quarter of 2020.
“It is reprehensible that the Federal Government, through the Minister of Information and Culture, Alhaji Lai Mohammed, would deny that its first quarter 2020 financial report stated that Federal Government’s retained revenue stood at N950.56 billion, while the total debt services was N943.12 billion.
“In his denial, the minister forgot that the Medium Term Expenditure Framework and Fiscal Strategy document from the Federal Ministry of Finance, Budget and National Planning which showed the figures was already in the public domain.
“For the avoidance of doubt, tables 3.4 and 4.3 of the report respectively, state that, “as at end of March 2020, FGN’s retained revenue was N950.56 billion”, and that “of the expenditure, N943.12 billion was for debt service” the party stated.
The PDP stressed that the Buhari administration has destroyed the nation’s economy with accumulation of debts to the extent that the debt profile has risen to 99 percent of its retained revenue, adding that no amount of whitewash by the Minister of Information can distort the fact that the nation is heading to the brinks.
The party reiterated that it will be unpardonable, if after eight years, all that Nigerians will remember the Buhari administration for is a basketful of morsels of lies, huge debts, humongous corruption, escalated bloodletting, hunger, starvation and awful living conditions.