Governors elected on the platform of the opposition Peoples Democratic Party have frowned at the position of their counterpart in the ruling All Progressives Congress on the alarm by the Governor of Edo State, Godwin Obaseki, on the printing of about N60 billion by the Federal Government for allocation.
Obaseki had recently raised an alarm that the Federal Government printed the money to support monthly allocation shared for the month of March among the federal, state and local governments.
Progressive Governors Forum were among those who attacked the Edo State governor for raising the alarm.
But in a statement this weekend by CID Maduabum, LL.M, Director General, PDP Governors Forum, the PDP governors said they were “alarmed at the partisan slant a patriotic advice to the Federal Government by His Excellency, Governor Godwin Obaseki, on its monetary policies has assumed.”
The statement read in full, “It is unhelpful for the Progressive Governors Forum to join the fray in the manner it did by its recent statement attacking the bona fides of Governor Obaseki who merely warned the monetary authorities about the danger of uncontrolled use of Ways and Means, that is, the printing of Naira, to support government’s expenditure.
“Governor Obaseki has a background in economics and finance and is a very responsible Governor who talks in a measured way . His advise, which by the way has been corroborated by none other than the Governor of the CBN himself, and the international ratings agency FITCH , should be heeded rather than being crucified for sounding a note of caution.
“No doubt the Federal government has been supporting the States in the area of agriculture, budget, refund of Federal Government executed projects by States and a few other areas of intervention. Is CBN trying to be vindictive and vengeful by recalling its loans to the States because of an informed advise by a Governor?. It is unfortunate that governance has plummeted to this level.
“The Federal government should plug financial leakages in the system and curb wasteful expenditure of billions of Naira on projects that can be executed by the private sector and save a lot of money in the process, thereby relying less on Ways and Means by the CBN , which brings pressure on the Naira with its inflationary consequences. Inflation in Nigeria is currently at 18.2 % , the highest in recent years. We should all be concerned to find ways of steming the tide.
“We are all involved in the urgent task of rescuing the economy of Nigeria and nobody should indeed play the OSTRICH.”