PDP Reports Eroding Investor Confidence in Nigeria’s Economy During Tinubu’s Tenure

The Peoples Democratic Party (PDP) has expressed its concerns regarding what it sees as President Bola Tinubu’s poorly conceived and hastily executed economic strategies. The party asserts that these policies have significantly intensified the challenges faced by Nigerians and aggravated the nation’s security issues.

The principal opposition party has also issued a warning to the public, emphasizing that Nigeria is currently grappling with serious difficulties and is rapidly approaching a standstill under the leadership of the All Progressives Congress (APC) headed by Tinubu. The National Publicity Secretary of the PDP, Hon. Debo Ologunagba, conveyed these sentiments in a statement released in Abuja on Monday.

Ologunagba expressed, “Our party is deeply concerned that the Tinubu-led APC administration lacks the approval and support of the citizens, resulting in an environment that gives the impression of a lack of effective governance in the nation.”

The PDP further highlighted that there exists a significant disconnect between the government and the people, stemming from the implementation of poorly planned and hastily executed policies. These policies, according to the PDP, have led to unbearable economic hardships, heightened insecurity, and a pervasive sense of apprehension that threatens the unity and stability of the nation.

The PDP criticized the administration’s approach to removing subsidies and allowing the Naira to float freely, asserting that this move has triggered a surge in the cost of living, adversely affecting national productivity, causing business closures, and resulting in widespread job losses. This, in turn, has exacerbated poverty, hunger, insecurity, and hopelessness across the country.

Moreover, the PDP expressed concern over the dwindling confidence of investors in the nation, as evidenced by the departure of international companies and the subsequent impact on employment, particularly in the Small and Medium Enterprises (SMEs) sector, which plays a pivotal role in the national economy.

The PDP lamented that over the past two months, a staggering number of Nigerians—over 150 million—now struggle to afford their daily meals, leading to widespread hunger and suffering. The party criticized the APC’s purported relief efforts, which have provided a mere average of 1,200 bags of rice per state, characterizing these initiatives as deceptive and fraudulent.

Furthermore, the PDP expressed distress over the APC government’s apparent neglect of Nigerian citizens’ safety, particularly in light of the killings and abductions that have taken place in various states, including Plateau, Benue, Niger, and Kaduna. The party also highlighted the abduction of eight corps members on their way to Sokoto for national service and the downing of a Nigerian military aircraft, criticizing the lack of adequate response from the government.

The PDP voiced its concerns about the declining life expectancy in Nigeria under the APC’s administration, as well as the general atmosphere of fear and restricted movement due to the prevailing security challenges. The party criticized the government’s intentions to involve Nigeria in a conflict in Niger Republic, asserting that such actions do not align with the nation’s best interests.

Concluding its statement, the PDP called on Nigerians to remain calm, adhere to the law, and continue supporting one another in their collective pursuit of a secure and prosperous nation.

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