PDP Criticizes APC’s Stance on Debt Management in Delta.
The Delta State chapter of the Peoples Democratic Party (PDP) has strongly criticized the All Progressives Congress (APC) for its commentary on the state’s debt management, asserting that the APC lacks the credibility to discuss such matters. According to the PDP, the APC-led Federal Government has overseen a period of heavy and reckless borrowing, escalating Nigeria’s national debt from approximately N7 trillion during the PDP’s 16-year tenure to over N90 trillion under the APC’s eight years in power. This dramatic increase has resulted in a situation where 97% of Nigeria’s national revenue is devoted to debt servicing, which has significantly reduced the revenue allocations to states and local governments.
The PDP’s response came after what it described as “misguided propaganda” by the Delta State Chapter of the APC, which aimed to misinform the public about the debt management measures being implemented by Governor Sheriff Oborevwori’s administration. The PDP’s state secretary, Mr. Dan Ossai, accused the APC of trying to downplay the governor’s responsible efforts in reducing the state’s debt profile to ensure greater financial stability and economic health.
Ossai emphasized that Governor Oborevwori is committed to managing Delta State towards a debt-free future, noting that the governor has saved over N205 billion through financial efficiency and has reduced the state’s debt by N180 billion. He argued that it is precisely these achievements that the APC is challenging, highlighting the irony of their criticism given the APC’s poor management of the national economy.
The PDP also pointed out that the APC’s poor handling of the national economy, particularly in the oil sector, is another reason why their opinions on Delta State’s debt management should not be taken seriously. Under the APC, Nigeria’s crude oil production capacity dropped from over two million barrels per day to about one million barrels per day, further exacerbating the country’s economic challenges.
In summary, the Delta State PDP dismissed the APC’s criticisms as unfounded and reflective of the party’s own failures at the national level, particularly in the management of the economy and debt. The PDP reiterated its commitment to prudent financial management and ensuring that Delta State does not follow the same path as the APC-led federal government.
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