Economic Hardship: Nigeria Almost Becoming Like Venezuela - PDP Govs

State governors elected on the platform of the Peoples Democratic Party on Monday said Nigeria under the leadership of President Bola Tinubu’s All Progressives Congress-led Federal Government was almost on the path to becoming like Venezuela.

“Political corruption, ongoing food and medicine shortages, business closures, high unemployment rates, lower productivity, human rights violations, gross economic mismanagement, and disproportionate reliance on oil are just a few of the problems that Venezuela is currently facing.

Insecurity Rate keeps Increasing

“All of these factors have made the situation worse. Recently, Abuja and other parts of Nigeria have seen a noticeable rise in abduction instances, along with several other crimes.

“Furthermore, the majority of Nigerians find it difficult to afford the growing prices of staple items.

Jerrymusa.com reports that the PDP governors reaffirmed their demand for state police and urged the federal government to address the depreciating value of the naira to address economic and security concerns.

Following their meeting at the Oyo State Governor’s Lodge, the governors made the call. Asokoro, Abuja, declared on Monday that they were dedicated to reforming and reorganising the PDP to function as a potent rival to Nigeria’s ruling party.

As the most democratic party, the Forum’s chairman and governor of Bauchi State, Bala Mohammed, stated, “What we are doing is providing constructive criticism of the Federal Government’s objectionable policies.

“But we were in favour of eliminating subsidies when this administration first took office.

“We felt that if we made judgements as a group, we should follow the precautions that were put in place. But the naira has now started to freely tumble.

“We are quickly approaching the point where we resemble Venezuela due to the rapidly rising cost of life. Thus, we are providing specific criticism without disparaging others.

“In the end, it is up to Nigerians and other national organs to decide whether or not to take measures that will provide relief for all of us.

Mohammed revealed that the APC-led Federal Government and the PDP governors will collaborate closely to bring some relief to the general populace.

“The federal government is not the only entity accountable for the growing expense of living.

“The Federal Government is solely in charge of monetary and economic policy, but we have been working with them to make sure we stay focused,” he said.

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