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Author Topic: You are responsible for economic recession - PDP tells APC  (Read 219 times)

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You are responsible for economic recession - PDP tells APC
« on: September 05, 2016, 07:18:26 AM »

The Peoples Democratic Party (PDP) has blamed the ruling All Progressives Congress (APC) for the economic recession plaguing the land.

In a statement yesterday by spokesman of the party’s caretaker committee, Prince Dayo Adeyeye, the PDP rejected claims that the recession was caused by mismanagement of the nation’s resources by its past leadership.

The PDP was reacting to reports credited to the Jigawa State Governor, Abubakar Badaru, that the past administration of the PDP brought the country to its knees through corruption and economic mismanagement.

“Our attention has once again been drawn to the inconsiderate statement attributed to the Governor of Jigawa State, Abubakar Badaru, and similar comments from people of likeminds to the effect that the PDP administration was responsible for the economic recession.

“In the first place, this blame is misplaced because our elementary understanding of economics teaches us that the major cause of recession is inflation and poor handling of the economy given that the higher the rate of inflation, the more impoverished people become, industrial production and GDP decline, resulting in massive job losses.

“Perhaps we should quote those who should know and tell Governor Badaru that wrong economic policies of the All Progressive Congress (APC)-led government caused the stagnation and recession in the country.

“It is really disappointing that a notable personality as highly placed as a governor could be drawn into making idle and pedestrian claims without facts.

“It is either he does not realise the obligation of speaking responsibly in that position or he is grossly ill-informed; in which case, we could only try to put the facts before him, and hoping he would recognise them”, the statement said.



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