Debt Burden: Buhari’s Media Team Attacks PDP
Nigeria's debt profile has continued to rise and people have raised concern over the current administration's desire to borrow to fund budget deficits.
Opposition parties and critics have also questioned the rationale behind the quest to get more loan even from Nigerians in form of bonds.
The loudest in the whole uproar is the opposition Peoples Democratic Party (PDP), but the media team of President Muhammadu Buhari has attacked the PDP over its comments on Nigeria's debt profile.
In a statement of the Buhari Media Organisation (BMO) posted on Facebook page of a spokesman for the President, Mr Femi Adesina, the group is accusing the PDP of having a hand in the debt burden Nigeria is carrying.
The group wants the PDP to disprove Vice President Yemi Osinbajo's clarification of the country's past and present debt profile.
Vice President Osinbajo had claimed that the administration of President Buhari met a debt burden of $63 billion but borrowed $10 billion since assumption of office.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the group said that Professor Osinbajo's explanation was "most appropriate in this season of misinformation and outright lies".
"Nigerians have for several months been fed with half-truths and disinformation by PDP elements on a humongous figure of foreign loans supposedly incurred by the Buhari administration.
"It was so bad that a party which presided over the highest figure of oil receipts in the nation's history was accusing a more discerning government of mismanagement of funds," BMO added.
The group further claimed that the PDP which earned $381 billion between 2010 and 2014 left a debt burden of $63 billion with little on ground in terms of infrastructure.
"Here is an administration that also left an outstanding $9 billion debt to International Oil Companies (IOCs) for international cash call as well as several abandoned projects."
"On the other hand, the All Progressives Congress (APC) government of President Muhammadu Buhari has the lowest oil revenue in the country's history and is doing a lot more across the six geo-political regions.
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"Nigeria under Buhari has only earned $112 billion since June 2010 and if you add $10 billion it borrowed, the figure of $122 billion is still a far cry from the 2010-2014 $381 billion oil earnings alone.
"Yet, the administration has not only turned the country into a giant construction site,it has also provided budget support/bail outs to about 22 states which had several months of workers' salary arrears as well as paid outstanding pensions of ex-Biafran fighters and former staff of the defunct Nigerian Airways.
"It also introduced the country's first social welfare programme for the poorest of the poor," the group further said.
The group also claimed that it had an incontrovertible fact that the Buhari administration had done more with less in three and half years than the 16 year PDP where the country earned $862 billion from oil alone.
It further described the critics as "pseudo-economists" who have been coining alternative facts in a bid to water down the gains of the last three years.
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