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Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has refuted claims made by governors of the Peoples Democratic Party (PDP) that Nigeria’s economic condition is akin to that of Venezuela.
The statement came as a response to comments made by Bala Mohammed, the governor of Bauchi State and chairman of the PDP Governors’ Forum, during a meeting in Abuja on Monday, where he expressed concern over the country’s rising cost of living and the depreciation of the naira. Governor Mohammed had drawn a parallel between Nigeria’s economic challenges and the situation in Venezuela, which as of January, reported an alarming inflation rate of 234 percent, placing it among the highest in the world. He described Nigeria as “almost on the road to Venezuela,” highlighting the severe economic difficulties facing the nation. Contrary to these claims, Minister Idris, in a statement on Tuesday, firmly stated that Nigeria’s economic situation does not bear resemblance to that of Venezuela. The statement reads, “It is far-fetched when PDP governors, who are supposed to be major players in driving economic growth and prosperity for our citizens in their respective states, mischievously and falsely compare our current economic challenges to Venezuela. “We want to state categorically that though our country is going through some rough patches, which are being addressed by the administration of President Bola Ahmed Tinubu, our situation is nowhere near what is happening in Venezuela. “The Nigerian economy is still very strong and is expected to record a 3% GDP growth this year. The economy is meeting financial obligations to lenders at home and abroad. “The Nigerian government is running effectively, and our government can pay all its bills while maintaining a healthy trade balance with trading partners worldwide.” “Nigerians should ask PDP Governors how far and how well they have utilised the increased revenue to better the lives of Nigerians in their respective states. “It is on record that most States controlled by PDP owe workers and pensioners months of unpaid salary and pension arrears. The PDP Governors have defaulted in paying gratuities to their retired workers. “It is also a fact that many of the PDP Governors have not paid N30,000 minimum wage to their workers since it took effect more than four years ago. All of these anomalies in their states contribute significantly to the economic pressure their citizens face.” Idris said the PDP governors should support the federal government to revamp the economy.
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