The presidential candidate of the Peoples Democratic Party
(PDP), Atiku Abubakar, has cautioned the Federal Government that increasing
debts will never be a solution to the country’s indebtedness.
Atiku, a former vice president, who in a statement, Tuesday,
recalled that last week the National Bureau of Statistics (NBS) released the
GDP figures for Q2 2022, said the government has been unreasonably upbeat about
the reported growth rate of 3.4%.
Waziri Adamawa claimed that the economy is in deeper trouble
than the All Progressives Congress (APC)-led government is willing to admit.
The former president lamented that citizens’ level of misery
hasn’t changed under President Muhammadu Buhari’s led APC.
Atiku attributed the misery to the slow pace of growth and
decline of the agriculture, oil and gas and manufacturing sectors.
“Second, unabated are rising commodity prices occasioned by
high energy and transportation costs (and aggravated by the disorderliness in
the forex market), ” he added.
The statement partly read, “Also, debt levels continue to
rise while the fiscal capacity to service its debts is declining. All these are
enough to erase the perceived gains from output growth.
“Having run out of ideas, it appears that our unprecedented
level of indebtedness is whetting the government’s appetite for more debt. This
is a recipe for macroeconomic instability.
“We challenge the National Bureau of Statistics to share
with the public their recent statistics on poverty, unemployment and commodity
prices — the reality of which will leave no hope for the common man.
“Like I have said before, increasing debts will never be a
solution to our indebtedness. My government, if elected, will halt the rate of
debt accumulation and instead focus on private-public partnerships in financing
development.”
He noted that the consideration of a government of national
unity will douse the temperature, unite Nigerians and pave the way for improved
security.
According to him, improved security allows for investments
and, therefore, an improved economy.
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