This is PDP’s latest grudge with Buhari

The Peoples Democratic Party says the lack of an economic team and a clear-cut fiscal policy by President Muhammadu Buhari’s administration is responsible for the decline in the stock market.

According to the PDP, the “apparent absence of an economic team in the third month of his administration is leading Nigeria into an economic quagmire and doldrums.”

A statement released by the National Publicity Secretary of the party, Olisa Metuh, in Abuja on Sunday, accused the government of making it impossible for honest Nigerians to engage in free trade and regulate their personal activities as guaranteed by the constitution, owing to its restriction on the operations and regulations of the foreign exchange transactions.

Metuh said: “In a desperate attempt to create a semblance of movement out of the clearly motionless and stoic state of affairs of this government, they have reeled out bans and complete clampdown on free trade. One begins to wonder therefore whether we are not heading back to the era of import duty licenses and regulation of commodity prices.”

“The most disturbing aspect of this communist economic agenda is the illegal and unlawful attempt to repeal the provisions of the Foreign Exchange Monitoring And Miscellaneous Provisions Act, otherwise known as Decree No 17 of 1995 and replace it with unilateral imposition of new regulations.”

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