Ruling APC not responsible for Nigeria's economic woes - Akpabio

The Senate Minority Leader, Senator Godswill Akpabio (PDP), has said that the ruling party is not to blame for Nigeria’s messy economic situation, arguing that the problem is a global phenomenon orchestrated by the steady fall in oil price.

 

Akpabio who stated this in Arochukwu, Abia State during a chat with newsmen after the thanksgiving service of Senator Mao Ohuabunwa, said Nigeria’s current economic challenges have nothing to do with the party in power. According to the former Akwa Ibom State Governor, the global economic meltdown is more pronounced in Nigeria because of the country’s mono-economy built around oil.

 

He, therefore advocated diversification of the economy as the only way out of the woods.

 

Akpabio said it was time the Federal Government gave the needed attention to mining, agricultural and entrepreneurship ventures and as well as foreign direct investment to boost the country’s revenue base.

 

He also advocated the encouragement of local industrialization to generate more jobs for the youths.

 

His words: “So, what has happened here is that with the massive failure, what we call oil glut in the market, the oil price has reduced below what we expected in the last 20 years. That automatically has affected our economy.

 

“It has nothing to do with which administration is in power. It has something to do with resources to be able to deliver the dividend of democracy.”

 

Admitting the biting effect of the harsh economy on the citizenry, the ex- Governor appealed for patience among Nigerians, and solicited support for the present administration in the interest of the country.

 

“The country belongs to all of us and if the country collapses on our heads, it means that we bequeath nothing to our children,” he argued.

 

On the up- coming national convention of the opposition Peoples Democratic Party (PDP), Akpabio said the party would not tolerate “imposition and impunity.”

 

He said that frantic efforts were being made by PDP leaders and stakeholders to reposition the party ahead of 2019 general election when it would be returned as the national ruling party.