Nigeria sliding into bankruptcy with endless borrowing – PDP


The Peoples Democratic Party (PDP) at its 90th NEC meeting in Abuja on Thursday raised alarm that Nigeria is sliding into bankruptcy under the All Progressives Congress (APC) government, decrying that the government has embarked on endless borrowing without accountability.

PDP National Chairman, Prince Uche Secondus, speaking at the NEC meeting declared inter alaia: “This country is sliding into bankruptcy but the government is instead embarking in endless borrowing with no accountability on the already borrowed ones.”

The PDP National Chairman pointed out that at the last count, Nigeria debt profile was showing over N31 trillion, noting, “a lot of it misappropriated.”
He argued that while borrowing in economics is not bad, it depends on what the borrowed resources are being channeled for. “With the unprecedented corruption in the system under APC watch, it would be difficult to see this borrowed funds properly deployed,” he said.

Secondus further decried: “amidst the frightening insecurity in the country accompanied by mass killings that has set fears on the people, what you get from government is multiple tariffs- Electricity, VAT, fuel price hike and more, with its operatives indulging in lies and propaganda.”
The PDP Chairman, therefore, remarked that the country is in a very bad shape, noting that the populace are groaning in pains and the government response to this is heaping further pains on the citizens. He stated that the Federal Government reported last week that 428 agencies would not be able to pay salaries this November because of underfunding.

The national chairman, therefore, joined other stakeholders in advising the APC government to stop further borrowing and stop persecution of Nigerian citizens, including the #EndSARS protesters.
Secondus declared: “NEC may, therefore, wish to join other voices in charging the APC federal Government to (show the cards):
1. #Stop borrowing,
2. #Stop mortgaging our future,
3. #Account for borrowed Funds
4. #Stop the Persecution of #Endsars Youth Protesters
5. #Respect Nigeria Youths
6. #Give Nigeria Youths a Voice.
7. #No to censoring of Social media
“Indeed, this APC administration has not treated our youths fairly. This APC government branded them lazy, use them and then victimize them.”

Secondus lamented that issues relating to the development of Nigerian youths have been relegated to the background. “The gains achieved by our youthful population in every sector of the life under PDP have all been destroyed by the APC which is doing everything to frustrate youthful attainments.

“We must as a party, therefore, work hard to ensure that the Nigerian youths are once again, given a voice in our country.

“Our party will as a matter of policy restore the hope of our youths. We hereby invite the Nigeria youths to avail themselves of the ample opportunity in our party to participate in the political process ahead of 2023 election,” Secondus said.
The PDP National Chairman also bemoaned that the worrisome situation here is that Nigerians do not really know who is in charge in the country today. “It appears that governance in our country today is in autopilot with agencies and operatives in a free world harassing and intimidating perceived enemies,” he said. The chairman said that  the situation generally is frightening and disheartening

Secondus expressed optimism, saying, “but we must not despair because God is not finished with this country and with strong faith in him we shall prevail.”

Party Affairs

The PDP national Chairman gave rendition of the party activities, successes, and challenges in the past three years of his leadership of the National Working Committee (NWC).

He highlighted: “When the current National Working Committee (NWC) under my watch came into office nearly three years ago, we based our programs on 3Rs, to reposition, rebuild and to regain.

“I can confidently report to NEC that the program is on course. We were able to reform the party ahead of 2019 general elections enough to take us to victory if the APC regime had allowed the will of the people to prevail. “Number of PDP governors increased from 11 to 16 and would have been more if not for APC’s Electoral abracadabra in Osun, Kano, Kogi states and climaxed in Imo State with the shocking Supreme Court ruling.

“At the National Assembly, as an opposition we were able to attract into our fold the Senate President and 16 senators, the Speaker and more than 34 House of Representatives members ahead of the 2019 elections in addition to three seating state governors, Rt. Hon. Aminu Tambuwal of Sokoto State, Dr. Sam Ortom of Benue and Alhaji Abdulfatah Ahmed of Kwara State. All these are as a result of our repositioning of the party that made it a huge brand. We restored integrity to our primaries.

“On the off-season elections, we won the governorship in Bayelsa and Edo. The Party also prevailed in several bye-elections in Sokoto, Cross River, Taraba and Rivers states.

“In our last NEC meeting in February, some far reaching decisions were taken including the rationalization of the party workforce to bring it to a realistic level as an opposition party.

“I wish to report to NEC that this was successfully carried out by the committee headed by Governor Bala Mohammed of Bauchi State who did a good job and deserve commendation.

“In our last NEC meeting also, a special committee to review and appraise the 2019 general elections was set up. The Committee which is also headed by Governor Mohammed is already operational despite the delay caused by the Covid-19 lockdown.”

Secondus also noted that the reformed status of the party made members successfully conduct the best ever Presidential convention in the country where the PDP candidate emerged transparently and all the other contestants congratulated the winner and resolved to support him.

The national chairman added that despite the disruptions from the Covid-19 lockdown, they were able to conduct congresses in most of the outstanding states, adding that frantic efforts are also on ground to resolve some disputes arising from the congresses in few states. “I must place on record, at this juncture, the cooperation we received from elders of our party in this regard, particularly, the members of the BOT, was encouraging,” he said.