'Government Debt: 'APC, Osinbajo Misleading Nigerians' - PDP
"It is indeed unfortunate that the Vice President-elect who has the details of the debt stock chose to be economical with the truth and to mislead Nigerians just to discredit the current PDP-led administration and rationalize APC's unpreparedness for governance.
"Prof.
Osinbajo is aware that the $63.7 billion is made up of external and
domestic debts belonging not only to the Federal Government but to
federal and state governments and accumulating since the 1960s, yet he
deliberately misrepresented the facts to give the unsuspecting public
the impression that the amount was exclusively incurred by the current
Federal Government.
"Perhaps
the Vice President-elect avoided the details so as not to expose the
fact that the APC controlled Lagos state has both the highest external
debt stock of $1,169, billion as well as the highest domestic debt stock
of N278, 867 billion.
"Furthermore
we find it unacceptable and unstatesmanly for the Vice President-elect
to attempt to mislead Nigerians into believing that the total federal
debt component was accumulated under the President Goodluck Jonathan-led
administration, when it is on record that a greater chunk of the amount
was inherited", the statement said.
The
party said it was also on record that part of the contemporary
borrowing from the domestic bond market was occasioned by the global
economic and financial crisis as well as the downturn in crude oil
revenue, which adversely affected other economies of the world.
Berating
the in-coming administration for dwelling on excuses and reneging on
campaign promises, the PDP wondered if the APC and the President-elect,
General Muhammadu Buhari did not know about the economic challenges
caused by the dwindling oil revenues before making their bogus promises
to Nigerians.
"The
APC must fulfill its promises for which Nigerians voted for them. Were
they not aware of the debt stock and the dwindling oil revenues before
making their huge promises to the people? Were the promises only
intended as carrots to mislead the people and deceitfully win their
votes after which they are dumped?" the PDP queried.
The
party said the in-coming administration should stop contriving excuses
and understand that Nigerians expect nothing short of the fulfillment of
its campaign promises in its four years rule, especially given that the
solid foundation for wealth creation has already been laid by the PDP,
which also remained truthful and honest in making promises to the people
during the campaigns.
The
PDP said "come June ending, the APC must be ready to commence in a very
transparent manner, the payment of monthly N5,000 to 25 million poor
Nigerians from across the country, monthly allowances for discharged but
yet to be employed youth corps members as well as commence delivery of
free meals to school children among other promises".
Signed:
Olisa Metuh
National Publicity Secretary 
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