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PDP blames Buhari for loss of $2.8bn GE investment

The Peoples Democratic Party, on Monday , said President Muhammadu Buhari’ s administration has caused Nigeria another huge economic setback following the withdrawal of General Electric from a $ 2 . 8 bn railway concession
deal due to the alleged harsh economic policies of the administration .

The PDP National Publicity Secretary , Mr . Kola Ologbondiyan in a statement, also said that with the withdrawal of GE and according to him , the continued exiting , from Nigeria , of other huge foreign investors , allegedly due to unabated unfriendly polices, Buhari’ s presidency had cost Nigerians the much needed commercial and
employment opportunities and further frustrated the development of the nation.

According to him , the Buhari administration is the major economic challenge facing Nigeria as a nation .
He stated that Nigeria has continued to reel under the administration allegedly characterized by economic stagnation, high inflation , soaring unemployment and harsh regulatory regime that scare away
investors .

He added that the alleged refusal of the Buhari administration to institute and drive economic direction and reforms ; its alleged resort to heavy taxation , heavy sanctions and blame games had led the nation to a sorry state where investors keep exiting the economy

According to him , “This is evident in the capital imputation report of the National Bureau of Statistics for the second quarter of 2018 , which showed a critical drop in capital importation in Q 2 relative to Q 1 2018 with no hope in sight under Buhari. ”

Ologbondiyan said , “ From all indications , it is clear that there is no way our economy can survive if the incompetent Buhari administration is allowed to be on the saddle for another four years . ”

He urged Nigerians to dismiss the ‘ Next Level ’ mantra introduced as Buhari’ s 2019 slogan. He alleged that the President failed to deliver on his promises.

He said , “The next level Buhari administration can take Nigeria to can only be severe hunger and pains beyond what Nigerians have been experiencing in the last three and half years . ”

Source;  https://punchng.com/pdp-blames-buhari-for-loss-of-2-8bn-ge-investment/

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