The Peoples Democratic Party (PDP) has recommended that President Muhammadu Buhari begin immediate cabinet reshuffling and bring in fresh hand with needed ideas in salvaging the nation’s economy from it current woes and mitigate possible unrest that may arise from continuous economic induced hardship.
It explained that the advice had become imperative in ensuring the All Progressives Congress (APC) led Federal Government reverse its inconsistent economic policies to salvage the nation’s economy through injecting new ideas by bring on board those who have the technical know-how in reversing the negative trend.
The main opposition party’s spokesperson, Kola Ologbondiyan, said that it was important for the ruling party to face the serious business of governance, review and come up with workable policies that could save Nigeria and Nigerians from alleged looming economic peril.
Through a statement yesterday, Ologbondiyan noted that the admission by the CBN governor that “Nigeria is unfortunately in a very bad situation” further justified the PDP position thatthe Buhari-led APC administration has wrecked Nigeria’s economy.
According to him, a situation where the federal government cannot articulate and implement policies favourable to wealth creation but resorting to borrowing and indiscriminate printing of currency notes, only goes to further confirm that the Buhari administration lacks the credibility and capacity to run a nation.
“Our party is worried over the huge negative impact of indiscriminate printing of currency which has led to the unprecedented rise in inflation rate to 18.17% as disclosed by the Bureau of National Statistics (NBS) on Thursday.
“This situation has led to further economic hardship with surging prices and fallen purchasing power throwing millions of families in distress and unable to afford the basic necessities of life.
“The PDP calls out President Buhari to come clean on the amount that has been printed so far by the CBN to finance the deficit caused by the financial mismanagement of his government as well as what the funds had been used for.
“Furthermore, for failing the full disclosure test, the PDP demands that the Minister of Finance should immediately be relieved of her position, while the President accepts responsibility for the indiscriminate printing of currency in our naira.
“Our party implores President Buhari to save our nation by allowing better hands to manage and salvage our economy before it is too late,” Ologbondiyan said in a statement.