Nigeria Collapsing Under Buhari – PDP Chairman

The new National Chairman of Peoples Democratic Party (PDP), Sen. Iyorcha Ayu has lamented that the nation is collapsing under a retired general. Ayu further lamented that terrorists are now sharing sovereignty with Nigeria, adding that the only thing the All Progressives Congress (APC) is doing successfully is irresponsible borrowing.

In his inaugural speech during the presentation of the Certificate of Return and Swearing-In Ceremony of the newly elected national officers, Ayu said, “Nigeria is drifting dangerously towards a failed state. Terrorists are now sharing sovereignty with Nigeria. Nigeria is simply ungoverned. Nigeria is collapsing under the leadership of a retired general!”

The PDP National Chairman, who said that PDP remains the only credible party, other political parties have either fizzled away or merged with others, added, “some have mutated into a contraption like the ruling All Progressive Congress (APC), without any clear ideology or a coherent programme of action. This contraption seduced Nigerians with propaganda in 2015. Today, Nigerians have seen the limit of propaganda and demagoguery. The only thing the APC is doing successfully is irresponsible borrowing.

“In the last six years, the APC-led government has mismanaged our diversity; divided the country along regional and religious lines. It has exacerbated religious tensions in the country. And through its marriage to nepotism, the incompetent APC- Federal Government is fueling secessionist agitations in the East and West of Nigeria.”

Painting a grim picture of APC six years in power, the PDP National Chairman said that this administration has witnessed “two economic recessions in six years. A sluggish GDP growth rate of below two percent.

“About 40 million Nigerians have been pushed into extreme poverty in six years. Inflation is at an all-time high at 18%. A weak and devalued Naira, devalued by over 300% since 2015, has made our currency the worst in Africa. Unemployment now stands at 33%. Meaning: Close to 40 million Nigerians, willing and able to work, can’t find jobs.

“A total debt stock of over $90 billion now hangs over Nigeria. An erratic exchange rate regime has depleted N324 against the US Dollar in the last six years.