ECONOMY: We Have Failed Nigerians, APC Governors Admit, Promises To Fix

After months of blaming the opposition Peoples Democratic Party (PDP), for

the current state of Nigeria's economy, the ruling All Progressives

Congress (APC) has accepted responsibility.
The APC also promised to fix the problems.
The APC's position was stated by Governor Rochas Okorocha who briefed

journalists after a meeting between the party's governors and President

Muhammadu Buhari at the Presidential Villa, Abuja.
Recal that APC blamed the opposition Peoples Democratic Party for the

country's current economic crisis.
Chairman of the Party, chief John Oyegun had stated similar stance and

asked the opposition party, the PDP, to apologize to Nigerians. It,

however, assured that President Muhammadu Buhari would undertake the

“urgent task” of reviving the “battered” economy.
Nigeria's economy is officially in recession, the National Bureau of

Statistics confirmed on Wednesday , saying the country's Gross Domestic

Product contracted by 2.06 per cent in the second quarter of 2016, the

second time of recording negative growth rate consecutively.

But APC, in a statement by its National Secretary, Mai Buni, insisted the

manners in which the economy was managed as well as “unprecedented” high

scale corruption under the PDP government of former President Goodluck

Jonathan were the circumstances that plunged Nigeria into the current

economic quagmire.
The situation has seen many Nigerians struggle to eke out living, and

various companies close shops or retrench workers.
Since Mr. Buhari came to power in May last year, a total of 4.58 million

Nigerians have become unemployed over a period that stretches through 2015

Q3, Q4 and 2016 Q1, Q2, NBS revealed on Wednesday .

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