PDP blames Buhari over loss of $2.8bn GE investment

THE Peoples Democratic Party (PDP) on Sunday declared that the Muhammadu Buhari Presidency has caused the nation another huge economic setback following the withdrawal of General Electric (GE) from a $2.8 billion railway concession deal due to the harsh economic policies of his administration.

This was continued in a statement made available to newsmen in Abuja yesterday by its National Publicly Secretary, Mr Kola Ologbondiyan in a reaction to the Next Level mantra launched by the administration for the reelection of President Buhari.

According to the statement, the Party urged Nigerians to dismiss the NEXT LEVEL mantra introduced as Buhari’s 2019 slogan noting that the President failed to deliver on his promises.

It declared that “the next level Buhari administration can take Nigeria to can only be severe hunger and pains beyond what Nigerians have been experiencing in the last three and half years.”

The Party further noted that with the withdrawal of GE and the continued exiting, from the nation of other huge foreign investors, due to unabated unfriendly policies, the Buhari Presidency had cost Nigerians the much needed commercial and employment opportunities and further frustrated the development of the nation.

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According to the statement, “The Buhari administration is the major economic challenge facing Nigeria as a nation. Our nation has continued to reel under the administration characterized by economic stagnation, high inflation, soaring unemployment and a harsh regulatory regime that scare away investors.

“The refusal of the incompetent and anti-development Buhari administration to institute and drive arable economic direction and reforms; its resort to heavy taxation, heavy sanctions and blame games have led us to a sorry state where investors keep existing our economy.

“This is evident in the capital importation report of the National Bureau of Statistics (NBS) for the second quarter of 2018, which showed a critical drop in capital importation in Q2 relative Q1 2018 with no hope in sight under Buhari.

“From all indications, it is clear that there is no way our economy can survive if the incompetent Buhari administration is allowed to be on the saddle for another four year.”

It therefore urged Nigerians to continue in their resolution to rescue the nation by rallying behind its Presidential candidate, Atiku Abubakar, with his proven competencies in wealth creation and economic management to bring the country out of the woods, where President Buhari had plunged her in the last three and half years.