Governors chosen on the platform of the Peoples Democratic Party, PDP, have stated that Nigeria is now the poverty capital of the world following the supposed maladministration of the All Progressives Congress, APC-led government.

The PDP Governors’ Forum, in a communique issued at the end of its conference in Port Harcourt, the Rivers State capital on Monday, implicated the APC-led administration of crashing the Nigerian economy.

According to the communique, the opposition party handed over a great economy to the APC federal government in 2015 however almost everything altered to worst in the last 7 years.

The stated, “The Nigerian Economy has continued to weaken and Nigerians have ended up being numb and accustomed to bad economic news as exemplified by the inconsistent and differential currency exchange rate regime, high interest rates, unsustainable joblessness figures and loaning spree some of which have not been used to important tasks, and other bad financial signs.

“In specific, it is clear that this APC administration is a massive failure when compared to the records of PDP in government before they forcefully took control of in 2015. The PDP handed over a $550 billion economy (the largest in Africa), however under APC, Nigeria becomes the Poverty Capital of the world.

“In 2015, under PDP, the exchange rate was N198 per Dollar, it is now almost N500 to a Dollar under APC; In 2015, unemployment rate was 7.3% under PDP, it is now 33%, among the greatest worldwide under the ruling celebration; In 2015, the Pump rate of Petroleum was N87 per litre, it is now N165 per litre and still climbing under corrupt APC.

“Debt Servicing in the country under APC now takes over 98% of the total Federal budget plan. The tales of woe is unlimited.”