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PDP Governors Forum- Buhari plunges Nigeria into bankruptcy with debt

President Muhammadu Buhari

PDP Governors Forum – Nigeria Peoples Democratic Party (PDP) Governors’ said the current administration, head by President Muhammadu Buhari has driven our country Nigeria into deep bankruptcy, as the massive N36 trillion naira debt has become largely unsustainable.

The opposition Governors` forum reached the conclusion at the Government House, Uyo, Akwa-Ibom State on Monday where the meeting was held.

One of the most influential figure in the opposition party, Governor Aminu Tambuwal of Sokoto State, read out the 14- points message at the forum to his colleagues, other staff members, the national press and Nigerians.

The Governor, who chaired the meeting, scowl at the increasing national debt under the current administration of President Muhammadu Buhari. One of the point read out detailed how 80% ofthe nation`s normal Appropriation is spent on servicing debt under the curreent administration.

“All the gains of the PDP Government under Chief Olusegun Obasanjo, GCFR, where Nigeria exited its foreign debt obligations has been destroyed. Borrowing for frivolous items such as funding the Nigerian Television Authority is scandalous.

“Money should only be borrowed for productive purposes as Nigeria’s current debt of over N36 trillion is becoming clearly unsustainable relative to our earnings and GDP.”

The meeting also frowned at the opaque manner the Nigerian National Petroleum Corporation (NNPC) carried out its operations, particularly its recent decision not to make statutory contributions to the Federation Account.

Governor Tambuwal also made mention the opposition party is displeased over how the Nigerian National Petroleum Corporation (NNPC) handles its operation. A recent report confirms the opposition party power house are investigating why NNPC decided not to make statutory contributions to the purse of Nigeria`s Federation Account.

“Under the Constitution, the NNPC is duty bound to make proceeds of sale or business of Petroleum available to the Federation Account which belongs to the three tiers of government, excluding reasonable and verified and verifiable cost of operations.

“The Federal government through NNPC is a manager of our oil wealth merely as A TRUSTEE for all Nigerians.”

Nigeria PDP governors condemn a situation where the current administration NNPC appointees totally discredit the people`s right. He emphasis on how and why the NNPC should be acountable to Nigerians according to he 1999 constituition.

The opposition party expressed deep concern that the CBN (Central Bank of Nigeria) operates more as an independent government under Muhammadu Buhair`s administration. Governor Aminu remind the Central Bank of Nigeria of their responsibilities to not the federal government, but Nigeria.

“A situation where CBN creates money, decides how much of it to spend, on what to spend it on without any form of controls or supervision is patently subversive of our constitutional order.

“It has become not just a LEVIATHAN, but also a father Christmas of sorts, dabbling into every sphere and scope of governmental activity, not just as a lender of last resort, but as a full executing agency of government.

“The meeting observed that the CBN has become such an octopus that it threatens State governments publicly, without decorum, about sanctions on any attempt to question its MODUS OPERANDI. The CBN should take immediate steps to halt the depreciation of the Naira,” the said.

The Governor`s forum also called for the resignationof the Revenue Mobilisation, Allocation and Fiscal Commission for failing Nigerians by not allocating resources with the right forumula.

The PDP governors, who also comdemn the suspension of one of the United States of America Silicon Valley giant, Twitter. Governor Tambual rubbish the harsh reasons given for the action by the administration over personal feelings being hurt.

“The mere ego of Mr President is not enough for such a drastic action that deprives millions of Nigerians from such an affordable means of expression and communication.

“We hope that this is not a harbinger or early warning signs of descent into dictatorship.

“The meeting noted that social media regulation can only be done within the existing laws on the subject and should not be used as an attempt to punish or gag Nigerians from enjoying constitutionally guaranteed rights.

“Nigerian youths do not have adequate access to employment and a lot of Nigerians rely on Twitter for their livelihood, businesses and self-employment.

“This will further worsen Nigeria’s 33% unemployment rate which is the highest in the world, improve Nigerians ranking as the country with second highest poverty rate in the entire world, all of which happened under APC’s unfortunate stewardship.”

The PDP Governors forum also warned of the brutal calamity and refusal to follow the rule of law under President Muhammadu Buhari.

“The need for law and order is paramount to secure our nation but mindless killings of innocent civilians should be avoided and is hereby condemned. It is in the same vein that the meeting reiterated its earlier revulsion at any attack on security personnel and their property anywhere in the country as a criminal and egregious act for which perpetrators should be brought to book.”

The PDP governors noted with regret that President Buhari seem not to be aware that the coercive instruments of State security is firmly within his hands and not the Governors, considering his recent media interview on the subject.

The Governors` note that President Muhammadu Buhari is far from understanding his administration and how it works for the best part of his 2 terms ending soonest.

People`s Democratic Party Governors in attendance are Udom Emmanuel, Samuel Ortom, Nyesom Ezenwo Wike, Douye Diri, Ifeanyi Ugwuanyi, Ifeanyi Okowa.

Ahmadu Umaru Fintiri,Darius Ishaku, Godwin Obaseki, Bala Mohammed, Okezie Ikpeazu, Oluseyi Makinde and Deputy Governor Mahdi Mohd.