The People’s Democratic Party (PDP) in Delta State said that Governor Sheriff Oborevwori has saved over 205 billion naira by managing money well. He also reduced the state’s debt by 180 billion naira.
Delta State PDP Secretary, Engr. Dan Ossai, shared this news to reply to the All Progressives Congress (APC).
He said, “The APC is unhappy because Governor Sheriff has managed the state’s money well.”
The PDP said, “The APC wants to run Delta State like they ran Nigeria since 2015. APC borrowed a lot of money, which hurt Nigeria’s economy. They even used borrowed money to pay debts. We don’t want this for Delta State.”
The PDP emphasized that Governor Sheriff wants to make Delta State debt-free.
The PDP also said, “Thanks to better oil production in Delta State, due to Governor Sheriff’s good work with oil communities, the state is getting more money. He is managing the state’s money wisely so that future generations won’t have a lot of debt, unlike the APC.”
The PDP criticized the APC for spreading false information about Governor Sheriff’s debt management. They said it’s a “shameless act” and “misguided propaganda” aimed at misleading people.
The PDP explained, “In a message from its Publicity Secretary, Valentine Onojeguo, the APC tried to downplay Governor Sheriff’s efforts to reduce the state’s debt and ensure better financial health.”
The PDP reminded everyone about the APC-led federal government’s borrowing issues since 2015. After taking over in 2015 under President Muhammadu Buhari, the APC borrowed recklessly, increasing Nigeria’s national debt from around 7 trillion naira to over 90 trillion naira in just eight years. This heavy borrowing led to 97% of national income being used to pay off debts, leaving less money for states and local governments.
They added, “The APC government failed to manage Nigeria’s oil production well, reducing output from over two million barrels per day to about one million BPD. Most of the money from this reduced output went to importing fuel and paying subsidies, with very little going back to the federal account.”
“The situation was made worse by bad policies from the APC, which devalued the naira and caused high inflation in the country.”
Former APC Finance Minister, Zainab Ahmed, admitted in 2021, “We have very low revenue and very high expenses. We are just trying to keep things stable by paying salaries, pensions, and meeting debt obligations. It’s very difficult for the federal government and the states.”
The PDP said these were the words of the APC’s Finance Minister about the national economy.
They also stated, “The federal government borrowed more money, which wasn’t used efficiently for infrastructure. Instead, they resorted to printing money, which is a bad way to manage the economy.”
In March 2024, during a Senate Committee hearing, the current Minister of Finance, Wale Edun, said the APC mismanaged the economy from 2015 to 2023. He mentioned, “The last eight years involved printing money without productivity, leading to high inflation we are facing now.”