The presidential candidate of the Allied Congress Party of Nigeria, ACPN, Oby Ezekwesili, has lambasted President Muhammadu Buhari and the Peoples Democratic Party, PDP, presidential candidate, Alhaji Atiku Abubakar, for wasting instance on WAEC certificate when Nigeria is facing a fiscal emergency.
She was reacting to the news that two top financial institutions, HSBC and UBS, hold left Nigeria.
Ezekwesili stated that Nigerians should be terrified by the CBN-acknowledged descend in foreign direct investments, FDI, and closure of the two global bank offices.
In a remark the former minister of Education sent to DAILY POST on Saturday, she said the dwindle in FDI was a pointer to the weakening investor faith in Nigeria’s macro-economic policies and commitment to source structural reforms.
“The latest dwindle in the on FDI numbers ($1.7billion in the first half of 2017 compared to $1.2billion in 2018) signifies the frail faith of foreign investors in the macroeconomic policies and commitment to source structural reforms in force, oil, gas and minerals sector of the administration.
“The country faces a fiscal crisis. It scarcely has the capacity to fund Capex out of revenues other than through borrowing. Problem is that debts (local and foreign) have risen, taking up with it, debt servicing which is now 69 per cent of revenue,” Ezekwesili stated.
“And yet the #APCPDP is having a debate over WAEC certificate. WAEC
certificate? Do these citizens ascertain how serious and pressing Nigeria’s crisis is just?”
According to the former vice president of the World Bank, “Our campaign has outlined critical steps as part of our State of Emergency on the Economy within our first 100 days in office, ensuring confidence-boosting economic policy reforms in key sectors that signal positively to the private sector.”
While noting that the country’s economic growth at 2 per cent is both too delicate and frail, mostly dependent on oil rate recovery, she said, “We can no longer afford to be led by those who hold no understanding of building economies, creating prosperity for the majority and stimulating productivity, competitiveness and possibility.
“Nigerians should wake up and glance what we are facing. These men running
for office don’t obtain it, and this is an emergency.“