PDP Governors Warn of Venezuela-like Crisis in Nigeria Amid Econom...

2024-02-12 18:12:13

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Nigeria on the Brink: PDP Governors Warn of Venezuela-like Crisis

Concerned about the worsening economic situation in Nigeria, state governors from the People's Democratic Party (PDP) have raised the alarm, warning that the country is heading towards a Venezuela-like crisis under the watch of President Bola Tinubu's All Progressives Congress (APC)-led administration. The governors, who met in Abuja on Monday, urged the federal government to take immediate measures to address the issue.

Bauchi Governor Bala Mohammed, who serves as the Chairman of the PDP Governors' Forum, read a communiqué issued at the end of the meeting. He emphasized the hardship faced by Nigerians due to political corruption, food and medicine shortages, business closures, high unemployment, human rights violations, and economic mismanagement.

The PDP governors pointed to the current situation in Venezuela as a cautionary tale, citing issues such as the falling value of the national currency, the naira, and the rising cost of living. "The cost of living is going high, we are almost on the road to Venezuela," said Governor Mohammed.

The governors expressed their support for the removal of fuel subsidies, but questioned the lack of safeguards to protect the citizens from the adverse effects of the policy. "Certainly, we have seen that it is a free fall for the naira. The cost of living is going high," Mohammed added.

Advising the Federal Government to involve state governments in finding a lasting solution to the hardship, Governor Mohammed urged the monetary and fiscal authorities to find appropriate solutions to stabilize the naira. He also commended the PDP governors for their efforts in cushioning the effects of the policy on the citizens by opening food reserves.

The governors further called for the establishment of state police, but with appropriate safeguards to prevent abuse or overreach by any tier of government. They expressed their commitment to revamping and repositioning the PDP to serve as an effective opposition to the ruling party.

In conclusion, the PDP governors reiterated their commitment to working with the Federal Government to bring down the cost of living and address the economic and security challenges facing the nation. They called on all relevant stakeholders to come together and find lasting solutions to prevent Nigeria from falling into a Venezuela-like crisis.

2024-02-12 News