By Sylvia Kodilichukwu, Enugu
Former Director-General (DG), Voice of Nigeria (VON), Mr Osita Okechukwu, has said that the Peoples Democratic Party (PDP) should be held liable for mortgaging the future of Nigeria and not the ruling All Progressives Congress (APC).
Okechukwu said this while answering questions from newsmen in Enugu on Monday, July 28, on the allegations by opposition African Democratic Congress (ADC) of “fiscal vandalism” by APC and President Bola Tinubu.
Recall that ADC had on Sunday accused President Tinubu’s administration of “fiscal vandalism”, following the National Assembly’s approval of £21 billion in foreign loans.
The party said that the new wave of borrowing would drive Nigeria’s public debt beyond N200 trillion before the end of the year, with no corresponding development or economic revival to justify it.
Reacting, Okechukwu said: “My candid position is that the leadership of the ADC are the true vandals who really mortgaged Nigeria today and tomorrow via their less than transparent privatisation programme.
“Because electricity is the bedrock of economic development, Nigerians have not slept since the day they auctioned NEPA/PHCN/Mambilla under all manner of conspiracy theories.
“One challenges ADC, if they are truly transparent, to release the House of Representatives report on the $16 billion fiscal vandalism on electricity value chain under their watch – dubbed Ndudi Elumelu 2009 Report.”
The former DG noted that just as “ADC vandalised NEPA/PHCN/Mambilla, our economic substructure; they also vandalised the superstructure of our sister political party – the PDP’s unity rotation convention in 2023.”
Okechukwu said that instead of joining fellow patriots to reposition the dislocated PDP, they hurriedly took refuge in the ADC.
He said they allegedly committed financial misdeeds, “thinking that hurling stones will make Nigerians to forget the Manitoba and other less than transparent transactions which led to prohibitive electricity tarrif and stymied huge investment like Aluminum Smelter, Ajaokuta etc.”
He advised the President to resist borrowing for recurrent expenditures or flimsy projects, if there is any, but borrow for critical infrastructure to enhance manufacturers’ productivity.
“For me, we should resist borrowing for recurrent expenditure or flimsy, if there is any, rather the implementation of the Oronsaye Report and urgent cutting down of unnecessary expenditures.
“Albeit, one will support President Tinubu to borrow about $50 billion to overhaul the entire electricity value chain, a bedrock of economic resurgimento,” he said.
Okechukwu advised the President that instead of borrowing $3 billion to rehabilitate narrow gauge Eastern Corridor Railways at the moment, he should borrow higher amount for standard gauge rail lines there.
He urged the President to also borrow to establish one deep seaport in the Niger Delta to stimulate economic growth.
