FG replies HSBC, Economists over predictions on 2019 elections

FG replies HSBC, Economists over predictions on 2019 elections

- The federal government has responded to the predictions of two British-based institutions, HSBC and The Economist, over the 2019 general elections

- HSBC had said Nigeria’s economic development will be stunted if President Buhari gets a second term

- The federal government describes the prediction as fake news

The federal government has described the predictions on the 2019 general elections by two British-based institutions, HSBC and The Economists, as fake and a psychological warfare against the anti-corruption policies of the current administration.

Vanguard reports that the minister of information and culture, Alhaji Lai Mohammed, stated this when he paid an advocacy visit to Channels Television on Friday, September 14.

The minister said: “We have all read that the intelligence unit of the Economist said the PDP will defeat the ruling APC in 2019. We have also read that the international financial institution, HSBC, said Nigeria’s economic development will be stunted if President Buhari gets a second term.

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“Let me state clearly that these reports are based on fake premises and, therefore, qualify as fake news. It is a psychological warfare by those who have been badly hit by our policies. Our fight against corruption has meant that many financial institutions, especially banks, that fed fat on the proceeds of corruption are no longer able to do that.

“Also, international publications that used to feed fat on questionable supplements paid for by the federal government have seen a drastic reduction in such patronage, as the administration cuts down on frivolous spending that was the order of the day in the past.

“Therefore, it is natural that these institutions and publications would not wish to see another term for this administration. The truth, however, is that only the good people of Nigeria will determine who presides over the affairs of the country, not any bank or media establishment, irrespective of their influence or self importance.

“The parents and wards of the 8.5 million school children, who are being fed every school day under our home-grown school feeding system, are feeling the impact of this Administration. The more than six million farmers, who have joined rice production since this Administration came on board, know what this government has done.

“Nigerians, who are enjoying more stable electricity after power production has more than doubled, know better. The 500,000 unemployed graduates who have benefitted from our N-Power programme know that these naysayers are only thinking about themselves. So we are not bothered."

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Meanwhile, Legit.ng previously reported that the ruling All Progressives Congress (APC) faulted The Economist Intelligence Unit (EIU) and HSBC, a multinational banking and financial services company, for their report that a second term for President Muhammadu Buhari would stunt the economic development of Nigeria.

The APC in a statement sighted by Legit.ng said they were nothing but the usual doomsday prophesies about the Nigerian nation.

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Source: Legit

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