The Allied Congress Party of Nigeria (ACPN) has described the promise made by the Peoples Democratic Party (PDP) and its candidate Alh. Atiku Abubakar to crash the pump price of petrol from N145 to N90, if elected into power as a 419 desire.
It said the pledge has shown ignorance of basic economics by Atiku.
The party took swipes at PDP in a statement by Oby 2019 Press Office, which was signed by the party’s national chairman, Gani Galadima.
“This is 419, and it betrays the PDP candidate’s ignorance of how Basic Economics and the solutions Nigeria truly needs.
“The country ended 2018 with N4trillion of Fiscal Deficit. Where will they find money to slash fuel price? Even if FG had such money, is it because they want another round of Subsidy-Slush Fund that they want to take the country deeper into the corrupted and market distorting fuel price fixing method?
“The Obiageli Ezekwesili For President 2019 campaign is all for market determined pricing which will end up more favorable to the Poor who have been and continue bearing the effect of corrupted subsidy regimes more while the rich enjoy the benefits.
“This is a reminder to Nigerians that Abubakar Atiku’s so-called and questionable business acumen does not qualify him to run this economy. Obiageli Ezekwesili is the only candidate in the race who has built and rebuilt national economies in Nigeria and outside, with a track record to show for it.”
In a separate statement Ezekwesili said Nigerians should be alarmed by the CBN-acknowledgment of the drop in foreign direct investments (FDI) and closure of two global bank offices – HSBC and UBS – in Nigeria.
She said the decline in FDI is a pointer to the weakening investor confidence in Nigeria’s macroeconomic policies and commitment to key structural reforms.
The statement added: “The latest decline in the on FDI numbers ($1.7billion in the first half of 2017 compared to $1.2billion in 2018) signifies the weak confidence of foreign investors in the macroeconomic policies and commitment to key structural reforms in power, oil, gas and minerals sector of the administration.
“The country faces a fiscal crisis. It scarcely has the capacity to fund Capex out of revenues other than through borrowing. Problem is that debts (local and foreign) have risen, taking up with it, debt servicing which is now 69 per cent of revenue,” Ezekwesili stated.
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