The People’s Democratic Party (PDP) in Delta State has announced that Governor Sheriff Oborevwori has achieved significant financial milestones, saving over N205 billion through efficient financial management and reducing the state’s debt profile by N180 billion. Delta State PDP Secretary, Engr. Dan Ossai, revealed this in a statement responding to the All Progressives Congress (APC).
Ossai criticized the APC for opposing these financial management achievements, accusing them of wanting the state to be run like the APC has mismanaged the national economy since 2015. He highlighted that the APC’s reckless borrowing has forced Nigeria to spend over 97% of its national revenue on debt servicing, leading to further borrowing to sustain the economy, ultimately damaging it.
The PDP emphasized that Governor Oborevwori is committed to making Delta a debt-free state. The administration’s effective management of relations with oil-producing communities has led to increased oil production output and higher state allocations. Governor Oborevwori focuses on managing the state’s economy within its means and boosting internally generated revenue (IGR) to ensure future generations do not inherit debts, unlike the APC’s approach.
The PDP condemned the APC’s recent statements as misleading propaganda, aimed at downplaying Governor Oborevwori’s efforts to improve the state’s financial stability and economic health. They highlighted the APC-led federal government’s heavy borrowing, escalating national debt from N7 trillion to over N90 trillion in eight years, which has resulted in a significant portion of national revenue being used for debt servicing.
The PDP criticized the APC for failing to manage the nation’s crude oil production effectively, reducing output from over two million barrels per day to about one million, with a significant portion of the revenue going towards corrupt petroleum product imports and fuel subsidies. The APC’s poor fiscal and monetary policies further devalued the naira and caused inflation across all sectors.
Former Minister of Finance, Zainab Ahmed, admitted in 2021 that revenues were low and federal allocations to states were reduced, creating a challenging financial situation. The PDP noted that the current Minister of Finance, Wale Edun, revealed during a Senate Committee hearing in March 2024 that the APC’s economic mismanagement involved printing money without matching productivity, leading to high inflation.
The PDP concluded that the APC’s economic strategies have been detrimental to the nation, and Governor Oborevwori’s responsible financial management aims to prevent such a scenario in Delta State.