Blame Buhari For Loss of $2.8bn Railway Investment – PDP

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Following the withdrawal of General Electric (GE) from a $2.8 billion railway concession deal, the main opposition party, Peoples Democratic Party (PDP) says the pull-out from the deal was due to the harsh economic policies of current President Buhari administration.

According to the party, the withdrawal and handing over of the leadership of the consortium by the US company to South Africa’s Transnet has caused the nation a huge setback, as the PDP urge Nigerians to dismiss the ‘Next Level’ mantra of the President Buhari’s reelection campaign.

In a statement by the National Publicity Secretary, Kola Ologbondiyan, the PDP argued that the next level the Buhari administration can take Nigeria to can only be severe hunger and pains beyond what Nigerians have been experiencing in the last three and half years.

They insisted that the Buhari Presidency has cost Nigerians the much needed commercial and employment opportunities and further frustrated the development of the nation, as a result of the withdrawal of GE and the continued exit of foreign investors due to “unabated unfriendly policies” of the administration.

Meanwhile, GE has said that it handed over the leadership of the consortium chosen to run Nigeria’s rail concession to Transnet as a result of the company’s decision to “spin off its transport business.”

The Minister of Transportation, Rotimi Amaechi had also confirmed that GE’s withdrawal from the railway concession was in line with the US company’s strategy of exiting the transportation business.

However, the PDP has insisted that the Buhari administration is the major economic challenge facing Nigeria as a nation, as it has continued to reel under the administration “characterized by economic stagnation, high inflation, soaring unemployment and harsh regulatory regime that scare away investors.

“The refusal of the incompetent and anti-development Buhari administration to institute and drive arable economic direction and reforms; its resort to heavy taxation, heavy sanctions and blame games have led us to a sorry state where investors keep existing our economy

“This is evident in the capital importation report of the National Bureau of Statistics (NBS) for the second quarter of 2018, which showed critical drop in capital importation in Q2 relative Q1 2018 with no hope in sight under Buhari,” the party said.

The PDP urged Nigerians to continue in their resolution to rescue the nation by rallying behind the PDP Presidential candidate, Atiku Abubakar, with his proven competencies in wealth creation and economic management to bring the country out of the woods, where President Buhari has allegedly plunged us in the last three and half years.

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