• Wednesday, May 22, 2024
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PDP blames Buhari for loss of $2.8bn GE investment


The Peoples Democratic Party (PDP) has attributed the withdrawal of General Electric (GE) from a $2.8 billion railway concession to the harsh economic policies of the Muhammadu Buhari administration.

The party posited that Nigeria cannot survive another four years of Buhari’s reelection.

The main opposition party urged Nigerians to dismiss the Next Level mantra launched by the the President on Sunday, adding that “Noting that the President failed to deliver on his promises”.

The statement reads: “The Next Level Buhari administration can take Nigeria to can only be severe hunger and pains beyond what Nigerians have been experiencing in the last three and half years.

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“PDP further notes that with the withdrawal of GE and the continued exiting, from our nation, of other huge foreign investors, due to unabated unfriendly polices, the Buhari Presidency has cost Nigerians the much needed commercial and employment opportunities and further frustrated the development of the nation.

“The Buhari administration is the major economic challenge facing Nigeria as a nation. Our nation has continued to reel under the administration characterized by economic stagnation, high inflation, soaring unemployment and harsh regulatory regime that scare away investors.

“The refusal of the incompetent and anti-development Buhari administration to institute and drive arable economic direction and reforms; its resort to heavy taxation, heavy sanctions and blame games have led us to a sorry state where investors keep existing our economy

“This is evident in the capital importation report of the National Bureau of Statistics (NBS) for the second quarter of 2018, which showed critical drop in capital importation in Q2 relative Q1 2018 with no hope in sight under Buhari.

“The PDP therefore urges Nigerians to continue in their resolution to rescue our nation by rallying behind the PDP Presidential candidate, Atiku Abubakar, with his proven competencies in wealth creation and economic management to bring our country out of the woods, where President Buhari has plunged us in the last three and half years”.