New PDP says Nigeria is broke

The Baraje's faction of PDP popularly referred to as the New PDP National Publicity Secretary, Chief Chukwuemeka Eze, on Thursday said that, officially-induced oil theft, dwindling returns from  oil and massive looting  of the treasury, were  pointers that Nigeria was on the brink of economic collapse.

He argued that despite the claims   by the  Jonathan  administration that the economy was on  a good footing, there were overwhelming facts  that  it (economy)  was “now comatose.”
According to the  faction,  one of  the facts is  the inability of the Federal Government to pay states their share of the Federal Allocation since July. It put the total sum owed the states at N336bn.
The statement, which was attributed to the National Chairman of the New PDP, Alhaji Abubakar Baraje,  reads in part,  “As of  today (Thursday), the states are being owed N336bn, with the N75bn  being the balance of the July 2013 arrears, N121bn from June augmentation and over N90bn as July augmentation.
“The implication of this unfortunate development is that the 36 states have become impoverished and unable to meet up with their basic obligations, including the payment of workers’ monthly salaries, which many of the states have been unable to do due to lack of funds.
“Chairman of the New PDP,  Alhaji  Kawu Baraje, has therefore unequivocally condemned the r*pe of the country’s economy by the Goodluck Jonathan Administration.”
The PDP faction, which also put the percentage of unemployment in the country at about 80 per cent, said because of the arrears, most states had not been able to meet their obligations to  their contractors.
It pointed out that the inability of states to pay their workers  was capable of adding to the social, economic and political problems facing  the nation.
This, the group  said, was a grave danger to the country  as youth and labour restiveness  could erupt.
The  PDP faction added,  “Nigerians should expect further worsening of the unemployment situation and the loss of jobs, which are  inevitable should the Federal Government continue with the present shoddy management of the economy which leaves much room for abuse.
While asking where the money accruing to the nation had gone to, the New PDP  said   the Central Bank of Nigeria had revealed that the country earned  N1.05tn in July. It therefore wondered why the Ministry  of Finance  had not been able to pay states their due statutory allocations.
“ The truth is that Nigeria is broke.  Worse days are ahead under this inept and visionless administration.
“It is unacceptable for Nigerians to be subjected to this grand level of suffering even when their country is one of the world’s leading oil producers,” the New PDP stated.

Meanwhile  Presidency and the  Bamanga Tukur-led PDP  have debunked this allegations and advised Nigerians to ignore the claim because  the economy was  doing well.