The People's Democratic Party (PDP) has said that the cause of poverty in Nigeria is as a result of corruption in the Buhari administration.

Kola Ologbondiyan, the party’s National Publicity Secretary, disclosed this in a statement issued on Sunday, July 12, 2020.

“The unbridled treasury looting and extortion by the cabal in the Buhari Presidency and the All Progressives Congress (APC) are directly responsible for the excruciating poverty and escalated insecurity being suffered by Nigerians in the last five years,” PDP said.

The opposition party further criticized the handling of the corruption allegations case leveled against the suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.

The PDP had earlier demanded the prosecution of Ibrahim Magu, saying his arrest has exposed why corruption has worsened under the Buhari's administration, as documented by a credible international organization, including the anti-corruption, Eons Intelligence reports.

The party also said the recent revelations of widespread treasury looting have also exposed ‘the hypocrisy of the APC and how its leaders are mercilessly plundering the economy while abandoning our citizens to a life of squalor.'

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The PDP stated that there is “a desperate attempt by a cabal; to delink certain of its officials from the indictment in the saga.

"The picture is becoming clearer; on how APC leaders, in the last five years, siphoned and pocketed over N14 trillion; from various government agencies; meant for the development of the nation and the welfare of Nigerians.

“This explains why the APC administration has failed to expose those involved in the wholesale stealing of N9.6 trillion ($25 billion) oil money as detailed in the leaked NNPC memo; just as no steps have been taken by the APC government to investigate and recover the money.

“It equally explains why the APC administration had also failed to expose those behind the reported stealing of N1.1 trillion worth of crude oil; using 18 unregistered vessels linked to some of its leaders; and why the money was never recovered.”

The party added that the latest “revelation of massive looting in NDDC, as detailed by its former Managing Director, Joy Nunieh; as well as the silence of the Buhari Presidency on the issues raised; grant further insight into how resources meant for the development of our nation are being pillaged under the APC.

“More distressing are allegations that APC leaders are also looting part of the huge borrowings by the Buhari administration; as well as diverting social intervention funds; such as the N500 billion Social Investment Programme fraud revealed by First Lady Aisha Buhari.

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“This is in addition to alleged stealing of repatriated funds and proceeds of huge multiple taxes; imposed by the APC administration”.

The opposition party also faulted the Buhari’s administration, saying the massive looting by the APC is responsible for the collapse of infrastructure in all sectors; a frightening 23.1 per cent unemployment rate, escalated insecurity, high costs of essential goods, increased morbidity rate, reduced life expectancy, and a despondent citizenry. 

On a final note, the PDP urged Nigerians not to give up, but keep faith alive and continue to support one another in this perilous time.