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Economy: Buhari Govt Lacks Economic, Financial Experts – PDP




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The Peoples Democratic Party (PDP) has said the administration of President Muhammadu Buhari lacks economic and financial experts.

The main opposition party made this known while reacting to reports from the Central Bank of Nigeria (CBN) that indicated that Nigeria’s foreign exchange reserves dipped to $38.684bn in December from $39.8bn in November of 2019.

Speaking during a monetary policy committee in November last year,
the CBN Governor, Mr Godwin Emefiele, said the drop in the foreign reserves was not enough to create fear in the economy.

But reacting while speaking with The Punch, the PDP Deputy National Chairman, Mr Diran Odeyemi, said ex-President Goodluck Jonathan, and ex-President Olusegun Obasanjo appointed economic and financial experts, who made the economy grow.

He called that the administration of Obasanjo relieved Nigeria of all its debt.

Odeyemi said: “Nobody is expecting the President to be a financial expert because he did not claim to be one as a retired soldier. But as a President, he is expected to search for experts who could help him to move the country forward. This was what the former President Jonathan did and it is where Buhari has failed.

“The nation’s depleting foreign exchange is expected with the level of corruption in the war against Boko Haram, among others.

“There cannot be a better day under this regime and this is not about being antagonistic. Buhari was part of the late General Sani Abacha’s most indebted regime. What he understands about governance is to borrow and not to generate. It was the PDP administration under Obasanjo that paid off all those debts and in some instances because of his clout had some debts written off. Abacha’s regime was not different from the one that Buhari is overseeing now. The ominous signs are there for Nigerians to see.”

The PDP spokesperson stated that the Buhari government is filled with ministers who as former governors incurred huge debts for their states.

George Oshogwe Ogbolu is a Digital Media Strategist | Content Writer | Journalist | New Media Influencer | Proofreader and Editor at Naija News.