7 September 2017
…. Makarfi, Adeyeye warn on tougher road ahead
By CHUKWUDERA EZE
Nigeria’s major opposition party, Peoples’ Democratic Party, PDP, is accusing the ruling All Progressives Congress, APC, government of politicising the reported exit of Nigeria from recession.
The Chairman of the PDP National Caretaker Committee, Senator Ahmed Makarfi, observes that there is nothing to celebrate in the much-publicised exit from economic recession, adding that playing with statistics would not help the economy in any way.
Makarfi made the comment shortly after inaugurating caretaker committees for Adamawa and Osun state chapters of the party on Wednesday, pointing out the untoward effects of what he called APC’s careless policies.
The Caretaker Committee chairman asked, “Has our economic situation improved?” “You can play around with statistics. Nobody will want his country to be in recession and it’s a matter which affects everybody, irrespective of political inclination. It’s a matter that we must never politicise,” he said.
Absolving his party of any blames for Nigeria’s recession, Makarfi said the nation did not get into recession under the PDP administration. “It nosedived into recession because of the policies that the APC administration came with which frightened foreign investors and led to capital flight.”
Makarfi went further to list conditions that must emerge before the economy could be described as having improved.
In his words: “Getting out of recession can be because of one or two indices which may not even have direct bearing on ordinary citizens.
“But when you look at the figures collectively and holistically, it will indicate that you are out of a problem when you are not really out of a problem.
“You will be out of a problem when people are able to eat well, people are secure, they find jobs, infrastructure is in good condition and students will not find it difficult to pay common tuitions. All these issues are there and then we say we are out of recession and we are clapping.
“We have nothing to clap for. We have a lot to do. That is what PDP intends to correct when we come to power. But be that as it may, what we can do, even at the moment is to partner those in power to make sure that the condition of every Nigerian, especially the ordinary people, is better. We won’t politicise over that.”
In a separate statement, PDP spokesman, Dayo Adeyeye, even warned that the economy might go into a worse situation because of what it called weak monetary policies.
Adeyeye’s statement reads in part: “At this point, it is imperative to reiterate the warning of the last Monetary Policy Committee, PMC, Meeting to the effect that the nation is at the risk of falling into a more protracted recession if strong and bold monetary and fiscal policies are not activated immediately to sustain our exit from recession.
“This warning is very necessary in the light of the incompetence, lack of economic direction and incoherent economic policies of the Buhari administration which led us into, and then prolonged recession in the first place. It is clear that a continuation of the administration’s incoherent economic policies and its penchant for governance by propaganda will only lead us down a more dangerous path.”