$63Bn Debt Belongs to APC States, not National.

PDP Publicity Secretary, Olisa Metuh

The Peoples Democratic Party on Monday, through its National Publicity Secretary, Mr Olisa Metuh has said that Vice President-elect, Prof. Yemi Osinbajo, misrepresented facts on the state of the nation’s economy.

It alleged that the misinterpretation was part of a ploy by the in-coming All Progressives Congress administration, to discredit the PDP, in a statement signed by the PDP National Publicity Secretary, Chief Olisa Metuh.

Metuh alleged the Vice President-elect for misinforming the people of Nigeria by claiming the debts owed by the APC states to be the National debt.

He said, “It is indeed unfortunate that the Vice President-elect who has the details of the debt stock chose to be economical with the truth and to mislead Nigerians just to discredit the current PDP-led administration and rationalise the APC’s unpreparedness for governance.

“Prof. Osinbajo is aware that the $63.7bn is made up of external and domestic debts belonging not only to the Federal Government but to federal and state governments and accumulating since the 1960s, yet he deliberately misrepresented the facts to give the unsuspecting public the impression that the amount was exclusively incurred by the current Federal Government.

“Perhaps the Vice President-elect avoided the details so as not to expose the fact that the APC controlled Lagos State has the highest external debt stock of $1.169bn as well as the highest domestic debt stock of N278.867bn.” he added.

 “The APC must fulfill its promises for which Nigerians voted for them. Were they not aware of the debt stock and the dwindling oil revenues before making their huge promises to the people? Were the promises only intended as carrots to mislead the people and deceitfully win their votes after which they are dumped?” he queried.

He further explained that in-coming administration should stop contriving excuses and understand that Nigerians expect nothing short of the fulfillment of its campaign promises in its four years rule, especially given that the solid foundation for wealth creation which has already been laid by the PDP.