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Bad Economy: APC Berates The Economist, HSBC For Predicting Buhari’s Defeat |RN

Yekini-Nabena

APC National Publicity Secretary, Yekini Nabena

Niyi  Odebode, John Alechenu, Olusola Fabiyi, Olaleye Aluko, Ted Odogwu,  Enyioha Opara, Olaleye Aluko and  Godwin Isenyo

 

The All Progressives Congress has rejected what it described as doomsday prophecies by two British-based institutions about Nigeria’s economy and the 2019 presidential election.

The APC position was contained in a statement by its acting National Publicity Secretary, Yekini Nabena, in Abuja on Wednesday.

The statement was the APC’s response to reports by The Economist Intelligence Unit, the research unit of The Economist, and a multinational banking and financial services company, HSBC.

The Economist had in a report by its EIU predicted that the Peoples Democratic Party would win the 2019 presidential election.

The HSBC also said the second term of President Muhammadu Buhari would stunt the economy of the country.

But Nabena said the reports were nothing but the usual doomsday prophesies about Nigeria, which had serially proved false, deceptive and unreliable.

The statement read in part, “The All Progressives Congress urges Nigerians to regard these ‘expert analyses and prophecies’ for what they are and dismiss them accordingly.

“We should remember similar prophesies and analyses about the political situation in Nigeria made some years back by similar Western institutions.

“It was prophesied that Nigeria would collapse in 2015, resulting in some ethnic nationalities going their separate ways.

“Here we are, nearly four years after the doomsday prophecy; the Nigerian federation rather than collapse is waxing stronger with President Buhari administration striving to unite the country and consolidate positively on the strength of our diversity.”

The party wondered why it was only negative reports that The Economist, HSBC and similar institutions had about Nigeria.

It added that the two institutions did not see all the positive impacts that the APC administration was making in relation to ongoing economic reforms, fight against corruption, infrastructure drive and counter-insurgency.

The APC listed some of the recoveries made from officials of the immediate past administration by the Economic and Financial Crimes Commission as well as increases in remittances by public institutions such as the Joint Admissions and Matriculation Board and the Federal Inland Revenue Service as evidence of the Buhari-led administration’s success in transparency.

In a veiled reference to the ex-minister of Petroleum Resources, Mrs Diezani Alison-Madueke, the statement read, “A former minister in the immediate-past administration who is resident in the United Kingdom is alleged to control enough corruptly-obtained assets whose value if put to productive use could have employed thousands of Nigerians.

“How much of this loot has the United Kingdom, the base of these experts, returned to Nigeria? Of course, these experts are conveniently oblivious of these and many similar cases.

“Rather than consider the plight of Nigerians and campaign for the return of the stolen funds, these institutions have chosen to dissipate energy spewing doomsday prophecies on Nigeria.

“We advise these economic experts to focus on their pressing domestic issues and ponder, for example, on the important question of the role Britain will play in the world, post Brexit.”

Nigeria is doomed if Buhari is elected –SDP, ADC

The Social Democratic Party and the African Democratic Congress have lambasted the APC for defending Buhari.

The SDP National Publicity Secretary, Alfa Mohammed, said, “The APC is only denying what is obvious. The reports are genuine and we know these things already. Of course, we all know that Nigeria will be doomed if a President, who is not in charge, returns for another four years.”

In his reaction, the ADC National Chairman, Chief Okey Nwosu, said, “I wish I could rewind to four years back when the APC was condemning Nigeria’s economy based on the same foreign reports.

“Are these reports true? Yes. The poverty and unemployment index in the country is obvious. Even in agriculture and healthcare, we are not catching up. Our President still goes to same Britain periodically for medical attention.

“The APC has closed its eyes to the truth and has tried to suppress the opposition by all means. It has now extended this condemnation to the international community.

PDP hails reports

The PDP said the reports confirmed its position that Nigerians had rejected Buhari ahead of the 2019 presidential election.

The PDP said Buhari’s rejection was predicated on his alleged failure and the deception of the APC in the last three years.

The National Publicity Secretary of the party, Mr Kola Ologbondiyan, in a statement in Abuja on Wednesday said the findings by the two organisations that President Buhari stood no chance in the general elections and that his winning portended grave danger for Nigeria was in tandem with the stance of majority of Nigerians.

He noted that Nigerians were fed up with Buhari due to his alleged incompetence and unprecedented corruption under his watch.

This, he said, had resulted in the ruining of the nation’s once robust economy, “with attendant mass job loss, ravaging hunger, starvation and disease, as well as escalated insecurity.”

“The world knows the reason the Buhari-led APC administration has resorted to harassment and vicious attacks on the opposition, assaults on the judiciary and the National Assembly, as well as unrelenting machination to compromise the Independent National Electoral Commission to rig the elections.

“This is also the reason President Buhari rejected the amendment to the Electoral Act passed by the National Assembly, which practically checks all APC’s rigging strategies ahead of the 2019 general elections,” Ologbondiyan added.

He said the fear of imminent defeat was the reason Buhari was allegedly against the amendment that checked the use of underage voters, provided for online publication of voter register in addition to instant transmission of results from the polling to collation centres, thus eliminating interferences and planned alteration of results by the APC.

“Nigerians are aware that this APC and INEC have been conniving to secretly create 30,000 illegal polling units in remote areas, as well as registration of compromised observers to validate their machinations.

“Now that Mr President is aware that his approval rating among Nigerians and across the world has hit the rocks despite the many choreographed endorsement stunts by his handlers, the PDP urges him to rein in his lackeys, bury the idea of rigging the elections and get ready to accept an inevitable defeat.”

The National Chairman of the Labour Party, Abdulkadir Abdulsalam, also said the APC would lose the 2019 election as predicted.

He spoke to one of our correspondents on the telephone on Wednesday.

Abdulsalam said, “The British groups merely stated what some of us already know, Nigerians are tired of this government and will vote it out in 2019 if we have a free and fair election.”

APC’s change brought hunger – Kwankwaso

In a related development, a PDP presidential aspirant and a former Governor of Kano State, Senator Rabiu Kwankwaso, on Wednesday said he and others who supported Buhari in 2015 made the “greatest mistake.”

Addressing the Niger State PDP supporters at the party’s secretariat in Minna, the former governor said the much talked about change only brought hunger, killings and unemployment.

He said, “I will not support or remain in that type of change. That is why I am back to the PDP to change the change that has brought untold hardship on Nigerians.”

In Kano State, a former Vice-President and PDP presidential aspirant, Alhaji  Atiku Abubakar,   promised a turnaround in the “current misfortune of Nigerians.”

He spoke while addressing the PDP chieftains and supporters at the residence the party’s state Chairman in Kano, Ma’sud El-Doguwa.    (Punch)

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Nigerians Have Shown Unprecedented Level Of Patience To Buhari – Economist

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Nigerians have never shown such level of patience and tolerance towards any of their past leaders for his record and strange policies as that shown to their current leader, Muhammadu Buhari – a former military dictator now self-confessed democrat who said he came to fight corruption.
Buhari, 75, is being plagued with failures across every single sector in the economy, the like as has never been seen before. Less than a year into office, the economy plummeted into recession, an economy which had till then grown at an average rate of 7% in previous years (2011-2014). The nation’s currency lost 70% of its value, unemployment rose from 6.5 to 26%, commodity prices tripled across many quarters and the state-regulated premium motor spirit prices were hiked by 67% without practically anybody batting an eye.
There have been stern opposition to his policies however and to his very personality as well, notably in the South East and South- South regions in the country as they are called, where he both received less than 5% of the votes cast at the last Presidential election and where he has always been sternly unpopular for his history of bigotry against the people, perceived incompetence, and dictatorial tendencies. But in many other regions across the country, the people have rather resolved to suffer patiently, drawing up excuses for him at will, blaming everyone including his hundreds of political appointees, anything, and anybody but never the man himself.
But in many other regions across the country, the people have rather resolved to suffer patiently, drawing up excuses for him at will, blaming everyone including his hundreds of political appointees, anything, and anybody but never the man himself.
Buhari’s party, the APC, promised Nigerians unprecedented swiping changes in government and the eviction of all corrupt individuals.
One possible explanation for this could be his party’s hope narrative in the 2015 General election where citizens were promised an unprecedented crackdown on corruption and the abolition of all government waste by a man whose financial worth they declared to have been less than N30million ($150,000 then), a historical low for a former top official in the country and most especially a former leader.
In a country plagued by acute corruption problems and with the unremitted crude oil revenue scandal of 2014 still fresh in the people’s minds, many were eager for an abrupt change, the like as never been seen before. He was seen an army general, already experienced in government, with a great strength of will, tough to take on the nation’s cabal of hardened criminals. He promised to appoint only technocrats to head the country’s departments and to see out the lingering Boko Haram insurgency from the waterfront. For a nation lacking basic amenities such as power supply in spite of its huge energy resources and with the lingering insurgency crises, the choice seemed easy to many- the general with integrity was the man for the country.
The talk was cheap then but now reality has taken its course. His earliest opponents pointed out to his track record and not to his speech, noting that the last time Nigeria fell into a dismal failure, currency woes, and commodity shortages was when he had seized power as a military general in 1983 and stating that the facts of that record contradicted the poems of his image brokers.
Many however just wanted “change” as it was then called and so voted the General and sat to wait for the sung promises. But from the onset of his government, the course was as his critics had predefined: Incompetency, bigotry and dictatorial tendencies plaguing the country.
He ignored the newly born genocide in the middle belt of the country perpetuated by the Fulani herdsmen of his kindred against the Christian communities in Benue, Plateau and later on Kaduna. He breached the Central Bank’s 2007 Act of Independence, telling it to suspend forex disbursements to steel importers and other manufacturing sectors in a bid to defend the Naira, a disastrous action which kick-started a spiral of recession.
He took 3 months to appoint his Chief of Staff, 6 months to appoint a cabinet and now 23 months and yet counting to appoint heads of agencies and board members he was so eager to fire upon his assumption into office and rose import duties on the most basic of commodities in a bid to raise government revenue.
And as for the corruption fight, the facts on the ground do not show anyone at all. Apart from a few officials harassed or imprisoned without a court order, the country is yet to witness the first victim of the said campaign at the court stands.
Government waste is on the rise, officials publicly caught in graft acts were swiftly excused, the 2016 Budget year passed without implementation and most worrisome, the Central Bank’s foreign reserves were being shared among unknown Bureau De Change operators at variable rates at the detriment of critical manufacturing, business and banking sectors.
The government continues to praise itself but the people seem to be increasingly tired of the paraded self-righteousness. The President’s recent illness was greeted with cheers by many. Many are just tired of the government. But the remarkable level of patience shown so far has been unprecedented and many a time the general reactions towards acts of constitutional violations were one of calmness or insensitivity.
If the Change narrative of the 2015 election and the songs of a man of integrity are to account for this, then Nigerians may have just certified themselves on the world map as a country easy to fool with propaganda. An adult should be judged on his track record, not on his tongue.                  (The Economist)