APC replies Gov. Obaseki on state of economy



 The All Progressives Congress (APC) has faulted claims by Gov. Godwin Obaseki Edo, Nigerian economy was in critical situation due to huge debt burden.

Retired Col. David Imuse, chairman the state APC caretaker committee, said this in a statement by Mr Ofure Osheobo, the secretary the committee on Monday in Benin.

Imuse described Obaseki’s criticism of the Federal Government on handling of the economy as ‘a classic case of the pot calling the kettle black.’

“The true is under Obaseki’s watch, the economy of Edo is in dire straits with the governor bereft of ideas on how to get out.

“The state is engulfed in a foreign debt of 300 million dollars and a domestic debt including loans from commercial banks, the capital market, and other doubtful sources, approaching N120billion as at March, for non-existent projects.

“In the past seven months, Obaseki has plunged Edo into higher debts by taking more loans which has seen a 67 per cent increase in its debt profile.

“Edo under him has overtaken Rivers as the state with the highest foreign and domestic debt in the South South and is on a steady course to displace Lagos as Nigeria’s most indebted state,” he said.

Imuse said while Kogi had successfully reduced its domestic debt from N132.5 billion to N73 billion, Edo had spent more money servicing debts than fi

nancing education, healthcare and infrastructure even without a state cabinet.

He described as spurious, alarmist, untrue and wicked, claim by Obaseki that Nigeria was on its way to becoming another Argentina in terms of low currency .

He advised the governor to use his membership of the National Economic Council, Nigerian Governors Forum and Nigerian Economic Summit to offer useful suggestion on how to move the economy forward.

This, he said was better than singling himself out for pediatric applause, because the management of Nigerian economy was not the responsibility of person, but that of the government, of which he was a part.

“Everybody today knows that since 2015 when APC came on the scene, Nigeria has been on the path of progress and things are definitely much better than how PDP left ,” he said. (NAN)