BY PATRICK MGBODO
The Peoples Democratic Party (PDP), Delta State Chapter has taken the All Progressives Congress (APC) to the cleaners over what it called a misleading propaganda against Governor Sheriff Oborevwori’s debt management strategies.
The Secretary of Delta State PDP, Engr. Dan Ossai, lambasted the APC for “shameless duplicity and misguided propaganda aimed at undermining the financial wisdom of Governor Oborevwori.
In a press release, Ossai accused the APC of attempting to misinform the public about the noticeable strides made by the Oborevwori administration in managing the state’s debt profile.
Ossai said the APC’s criticism was a diversion from its disastrous record of national economic mismanagement, which, according to the State PDP, has exacerbated Nigeria’s debt crisis.
The PDP spokesman in Delta reminded Nigerians of the APC’s maladministration under President Muhammadu Buhari, noting that the national debt skyrocketed from about N7 trillion in 2015 to over N90 trillion by 2023.
This reckless borrowing, he said, was coupled with poor fiscal and monetary policies, which led to a substantial decline in crude oil production and a steep devaluation of the Naira.
According to the PDP, the APC’s mismanagement resulted in a dire economic situation where 97 per cent of Nigeria’s national revenue was allocated to debt servicing, severely impacting states’ revenues.
Ossai also referenced admission by former Finance Minister, Zainab Ahmed, that in 2021 there were severe strain on revenues, hence need for increased borrowing.
He contrasted the APC’s record with the achievements of Governor Oborevwori, whom he said has made appreciable efforts to manage Delta’s finances prudently, adding “even when the APC-led federal government and some other states have continued to borrow, Governor Sheriff Oborevwori has decided, not only to hem borrowing but also to pay up and reduce inherited loans and interests to safeguard the state from the kind of debt service burden that has crippled the nation under the leadership of the APC. “Such commitment is noble and can only be executed through a deep sense of leadership responsibility and financial prudence as Gov. Oborevwori is demonstrating.
“In his 2024 Budget appropriation, he (Oborevwori) was emphatic about keeping the state’s expenditure within revenue limits, reducing its debt profile and ensuring that the administration does not build new inflationary pressure through extra-budgetary funding.
“It was for this reason that he cut down on various items relating to the cost of running the state government while he increased the budget volume for projects and programmes directly related to providing for the people, communities and workers.
‘’It is on record that the Oborevwori administration has not borrowed a dime in its almost 15 months of coming on board, notwithstanding the financial requirements for the execution of high-level infrastructure projects, workers and social welfare investments, and human capital development programmes being churned out across the state.
“The APC wants Delta to replicate its failed strategies”, Ossai said, adding “but Governor Oborevwori is committed to steering Delta towards financial independence and stability, ensuring that future generations do not inherit the debt burdens that have plagued the nation under APC’s leadership.”
