THE Peoples Democratic Party
(PDP), on Monday, said the Action Congress of Nigeria (ACN) was ignorant
of the country’s debt profile and debunked the claim that the PDP-led
government was dragging Nigeria back into a debt trap.
The party, in a statement
issued in Abuja by its national publicity secretary, Chief Olisa Metuh,
said “Nigeria is still one of the least indebted countries among
comparative growing economies with a debt/GDP ratio of 17.45 per cent as
of 2011, compared with countries such as Indonesia at 24.5 per cent;
South Africa at 35.6 per cent and Ghana at 38.7 per cent.”
According to the party, “the
approved external borrowing of $7.9 billion in the 2012 budget covers
expenditure over a three-year period ending in 2014 and it will be
applied to specific projects including the Abuja light rail project;
Zungeru 700mw hydro-electric power project; 200 ultra modern bed
hospital in Yobe State; erosion watershed management projects across the
country, among others and will enhance job creation, alleviate poverty
and provide macro-economic stability.”
The party said it was
hypocritical of the ACN to continuously accuse the PDP-led government of
sinking the country into further debt, when
ACN-led government in some states in the country was, in fact, the worst culprit.
“The PDP government will not
be distracted from its focus in ensuring fiscal discipline and prudent
management of our debt profile, which is currently maintained within the
sustainable international standard threshold of 40 per cent,” the
statement said.
It advised the ACN “to desist
from reckless and irritating attempts at misinformation, as their
thoughtless statements are a further indication of their total ignorance
on matters affecting our economy.”
The PDP, therefore, commended Nigerian workers for their diligence and steadfastness to the cause of nation building.
Expressing its solidarity to
the workers on the May Day, Chief Metuh said “the national chairman of
the PDP, Dr Bamanga Turkur, on behalf of millions of members of the
party, wishes to salute the Nigerian workers for their invaluable
contributions in the last 12 years of the PDP leadership of the nation.”
