PDP raises concern over Buhari's economic recovery and growth plan

- The Peoples Democratic Party (PDP) has urged the Federal Government

to ensure commitment to the implementation of Economic Recovery and

Growth Plan



- The opposition party welcomed the economic growth plan but said that

it required great commitment to see it through



- PDP also expressed worry over comments purportedly made by the

president during the launch



The Peoples Democratic Party (PDP) on Friday urged the Federal

Government to ensure commitment to the implementation of Economic

Recovery and Growth Plan.

The plan was launched on Wednesday by President Muhammadu Buhari in Abuja.



In a statement by the National Caretaker Committee Spokesman, Mr Dayo

Adeyeye, the party welcomed the economic growth plan but said that it

required great commitment to see it through.



It, however, expressed worry over comments purportedly made by the

president during the launch to the extent that the government was

approaching solution to the economic challenges as it did with

terrorism.



It also wondered how the lofty plan could be actualised given "the low

state of Nigerian economy'' where government was borrowing

domestically and internationally to fund its operations.



"The 2017 Budget is still a mirage. To buttress this, the

International Monetary Fund (IMF) has declared that Nigeria is

spending 66% of its interest revenue on debt.



"In other words, the Federal Government has only 34 per cent of its

revenue to tackle capital and recurrent expenditures and

development.''