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Buhari Can’t Fix Nigeria’s Economy, says PDP
The Peoples Democratic Party, PDP on Monday said the administration President Muhammadu Buhari, could not proffer solutions to Nigeria’s dwindling foreign exchange reserves and other socio-economic and political challenges of the country.
Reports from the Central Bank of Nigeria indicated that Nigeria’s foreign exchange reserves dipped to $38.684bn in December from $39.8bn in November of 2019.
The CBN Governor, Mr. Godwin Emefiele, speaking during a Monetary Policy Committee in Abuja in November had said the drop in the foreign reserves was not enough to create fear in the economy.
But the PDP Deputy National Chairman, Mr Diran Odeyemi, said that Buhari had failed to surround himself with economic and financial experts.
He stated that ex-President Goodluck Jonathan, and ex-President Olusegun Obasanjo, all of the PDP, appointed economic and financial experts, who made the economy grow during their administrations.
He also said Obasanjo’s administration was able to pay off Nigeria’s debt.
According to him, Buhari had a penchant for borrowing, adding that the borrowings had not shown commensurate investment or infrastructural provision.
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.”
According to him, Buhari surrounded himself with ministers who, as former governors, incurred huge debts for their states.
He added, “How to block those leakages will not be possible under this regime because some people are smiling to the bank on the depletion of our foreign reserves in debt servicing. Until we have a change of government and all these economic marauders are chased out, the solution is not in sight.”
Minister of the Federal Capital Territory, FCT, Nyesom Wike, has revealed one of the reasons he can’t make peace with Governor Similayi Fubara of Rivers State.
Wike accused Fubara of removing a chief in his family and went ahead to make another person a chief.
The FCT Minister stated this on Wednesday while fielding questions from journalists at a media parley in Abuja.
According to reports, the statement comes amid the ongoing political crisis in the State, with Wike and Governor Similayi Fubara at the center of the feud.
“Sometimes when you people talk about this peace, you don’t take everything. You don’t just sit outside to talk.
“Look at me, a former governor, Minister of of the FCT, Governor (Fubara) had the temerity, the audacity, because he has money from federation account, because he has more Internally Generated Revenue (IGR), will enter my own family to remove a chief and make another person a chief,” Wike said.
Akwa Ibom state Police Command has said that some locally made firearms have been recovered during stop and search operations along Ikot road in the state .
A statement signed by the Police Public Relations Officer in the state DSP Timfon John and made available to Journalists in Uyo on Thursday stated that the recovered firearms was in a determined effort to rid the state of illegal firearms and criminal elements .
The statement reads in parts:” Operatives of the Command intercepted a Mercedes Benz C300 with customized plate number FORBES JR, leading to the recovery of a locally fabricated firearm and two live cartridges.
“The operation, which took place at the Control Post in Ikot Ekpene, was part of the Command’s intensified stop-and-search strategy aimed at curbing crime and enhancing public safety.”
He said the vehicle had three male occupants who were identified themselves as: Nsisong Paul Okon, 27, native of Itak Village in Ikono local government area ,Francis Forbes, 62 from Ikot Akpa Edok Ndiya Village and Prince Forbes, 27, of Ikot Akpa Edok Ndiya Village from Ikono local government area respectively.
However, John disclosed that the state Commissioner of Police, CP Baba M. Azare has ordered a full-scale investigation into the matter.
“The Akwa Ibom State Police Command reaffirms its zero tolerance for unlawful possession of firearms and remains resolute in ensuring the safety of lives and property across the state”.
President Bola Tinubu has instructed lawmakers of the Lagos State House of Assembly to allow the impeached and reinstated Speaker, Mudashiru Obasa, to continue leading the house.
The President made this position known when he met with the lawmakers at the State House in Abuja on Wednesday.
As reported earlier, this is the first time President Tinubu is meeting the lawmakers since the crisis began in the house January 13, 2025.
One of the lawmakers told newsmen that ” Obasa is staying. We will obey the president. What we had was a family meeting. The President condenmed Obasa’s actions but blamed us for not carring him (Tinubu) along during the impeachement execrise”.
However, the lawmaker said President Tinubu warned Obasa to carry everyone along.
” He also warned him (Obasa) that if there were any future complaints from any quarters, he would be gone. “The President said he should let peace reign; and so based on that, we have accepted.”
On the pending matter in court, the source said: “The President has instructed him to withdraw it.”
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