Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

Osita Okechukwu, a founding member of the All Progressives Congress (APC), claimed on Monday that the Peoples Democratic Party (PDP), not the ruling APC, had mortgaged Nigeria’s future.

On Sunday, the African Democratic Congress (ADC) charged that President Bola Tinubu’s government had engaged in “fiscal vandalism” after the National Assembly approved £21 billion in foreign loans.

The party said that without any accompanying growth or economic recovery to support it, the fresh borrowing wave will push Nigeria’s national debt over N200 trillion by the end of the year.

In response, Okechukwu maintained that Nigeria was mortgaged by the PDP.

Speaking with journalists in Enugu, Okechukwu said: “My candid position is that the leadership of the ADC are the true vandals who really mortgaged Nigeria today and tomorrow via their less than transparent privatisation programme.

“Because electricity is the bedrock of economic development, Nigerians have not slept since the day they auctioned NEPA/PHCN/Mambilla under all manner of conspiracy theories.

“One challenges ADC, if they are truly transparent to release the House of Representatives report on the $16 billion fiscal vandalism on electricity value chain under their watch – dubbed Ndudi Elumelu 2009 Report.”

The former Director General of Voice of Nigeria (VON), further added that “just as ADC vandalised NEPA/PHCN/Mambilla, our economic substructure; they also vandalised the superstructure of our sister political party, the PDP’s unity rotation convention in 2023 and now took refuge in the ADC”.

Speaking about the growing debt load that the ADC is criticizing, Okechukwu stated that the President should borrow money for essential infrastructure to boost manufacturing productivity rather than for ongoing expenses.

“For me we should resist borrowing for recurrent expenditure, rather the implementation of the Oronsaye Report and urgent cutting down of unnecessary expenditures. Albeit one will support President Tinubu to borrow about $50 billions to overhaul the entire electricity value chain, a bedrock of economic resorgimento,” he said.

Okechukwu further suggested that in order to boost economic growth, the President could borrow a correspondingly larger sum for standard gauge railways and one deep sea port in the Niger Delta rather than $3 billion to renovate the Eastern Corridor Railways’ narrow gauge at the moment.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.