General Buhari Will Inherit Empty Treasury If He Defeats Jonathan

February 23, 2015 8:57 am

Presidential candidate of the All Progressives Congress, APC, Muhammadu
Buhari, has said that he would inherit a huge debt profile and empty
treasury if elected president, expressing confidence that his wealth of
experience would assist in turning the situation around.

He also stated that his party’s economic policies are conceived to be
people-centred, adding that the country would for the first time in
decades experience a truly pro-people Federal Government under him.

“It is crystal clear that our revenues are dwindling by the day and if
we must survive, we cannot continue on this path of near absence of
accountability, mismanagement, outright waste and jamboree that has
characterised the management of public resources under the Jonathan-led
PDP government. 

“We can assure the mass of Nigerian people that help is on the way. We
know that an APC controlled Federal Government will obviously inherit a
huge debt profile and an empty treasury from this PDP Federal
Government. We are confident of turning the situation around.

“It is apparent that the Federal Government has suddenly found itself in
a bind with plummeting crude oil prices in the international market,
but typical of a team that lacks capacity for anticipatory actions, the
Federal Government has been running from pillar to post in a vain bid to
stabilize the economy.

“Unfortunately, all conceived palliatives applied to save the nation’s
declining economic indicators have merely scrapped the surface of the
problems leaving the mass of Nigerians desperate, confused and hungrier.

“With external debt standing at more than $10 billion and our internal
debts at more than $50 billion, it is without doubt that President
Jonathan is driving into economic wilderness. This should be a
cause for concern for all well-meaning Nigerians, more so when the
Federal Government responses to these rising economic challenges have,
at best, been casual.

“Emblematic of this casual, non profound approach to the management of
the national economy is the Central Bank of Nigeria’s devaluation of the
national currency in November 2014 while retaining the Retail Dutch
Auction System (RDAS).

“Dramatically, just under three months after that devaluation, the CBN,
obviously buffeted by unanticipated dynamics in the foreign exchange
market, announced the closure of the RDAS and the Wholesale Dutch
Auction System (WDAS). This shows clearly an uncoordinated template in
the management of the national economy.”

Buhari said this through his Director of Media and Publicity of the Campaign Organisation, Garba Shehu.
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