PDP Lament Rising Debt Profile

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National Publicity Secretary of PDP, Mr. Kola Ologbondiyan

Chuks Okocha in Abuja

The Peoples Democratic Party (PDP) has lamented the rising debt profile of Nigeria, stating that apart from being ranked as the world headquarters of poverty, the country was now the most indebted country in Africa.

The main opposition party said that the debt stock was already $83.882 billion out of which the federal government under Buhari had $66.662. Taking additional $29.6bn will eventually get our loan to $113.4bn.

The party explained that with the current trend, to exit the debt profile would take Nigeria more than 15 years.

PDP also called upon the federal government to extend the deadline of Nigerians assessing their banks’ accounts without the Tax Identification Number (TIN) beyond January 2, 2020 to avoid inflicting more pains on Nigerians.

Addressing newsmen friday at the PDP Legacy Office of the party, the National Publicity Secretary, Kola Ologbondiyan, said that unless the National Assembly, public and opinion leaders stop the planned $29.96 billion loan request that Nigeria would become the most indebted country in Africa

Giving details of the debt profile, the PDP spokesperson said, “the move by President Buhari to take another $29.6bn loan. Our debt stock is already $83.882 billion out of which the federal government under Buhari has $66.662. Taking additional $29.6bn will eventually get our loan to $113.4bn. if you convert it to naira, we will have N40.8trillion.”

PDP called on the National Assembly to halt the loan request as it would enslave the generations of Nigerians for over 15 years.

The party said, “Instead of growing the economy, the APC is only interested on accumulation of debt and inflicting pain on Nigerians through imposition of multiple taxes, increase in VAT, tariffs etc.”

On the January 2 deadline, PDP cautioned government against hasty implementation of its tax policy, which requires Nigerians to produce their Tax Identification Number before they can operate their bank accounts.

He said that the January 2, 2020 date deadline for commencement without adequate sensitisation was anti-people and shows that the APC had no iota of consideration for poor masses.

“It will disrupt their economic activities and get families stranded immediately after the yuletide etc. Adequate sensitisation and time should be given to carry the people along.”

The party also took a swipe on the ruling All Progressives Congress (APC) and the governors of the party accusing them of non-performance, as internal wrangling and crisis has reduced the ruling party to non-performance.

He said, “Today, if it is not the national chairman of the party bullying the governors, it is the in-fighting within the party led presidency. This has robbed the party and its governors not to perform and keep to the electoral promises made to Nigerians during the electioneering campaigns.