WARRI—CHIEF Emmanuel Ogidi, Vice Chairman of Peoples Democratic Party, PDP, South-South, has said that the current economic recession was because the leaders of All Progressives Congress, APC, are bad learners, which was why PDP has been positioned to reclaim the Presidency in 2019.
Speaking in Warri, Delta State, at the God’s Kingdom Society, GKS’ Feast of Tabernacles, Chief Ogidi told newsmen that although recession is global, the country was in economic trouble because there was no savings.
Ogidi said: “When Dr. Ngozi Okonjo-Iweala said we should save for the rainy day, the governors took on then President Goodluck Jonathan. He did not want to have issues with them, so they shared the money.
“If your campaign was based on change, it means you know what is on ground and will make a difference. So why blame the previous government instead of doing your job? There was recession in Jonathan’s time. The difference is how you manage it.”
Speaking also at the event, Mr. Henry Nwawuba, member, House of Representatives (PDP, Mbaitoli/Ikeduru), said “recession always comes after a boom. Therefore, there must be a plan and not just spending without producing and saving.”
Nwawuba said: “To get out of this recession and also protect the economy, the Federal Government must have a four-year plan. For instance, if the potentials in the agriculture sector must impact on the economy, rail lines must lead from the rural areas to the ports.
“But right now, nobody knows how recovered funds and bailout money are spent. How can you have a stable economy without transparency and a clear policy on forex? Why won’t people lose their jobs when money that belong to the government and the one that doesn’t are all in the Treasury Single Account?”