It alleged that it was more painful that the over $30 billion left in the Excess Crude Account as well as the over $60 billion left in the Foreign Reserves Account, as of May 29, 2007 by the previous administration had been reduced to less than $1billion in the Excess Crude Account and less than $30 billion in the Foreign Reserves Account.
Speaking through its national publicity secretary, Osita Okechukwu, the group said it wholeheartedly considered the recent Fitch BB-Minus rating of the Nigerian economy as unstable and in the negative as the truth and nothing but the true position of the economy.
CNPP also called on the Minister of Finance, Mr Olusegun Aganga, to admit the Fitch’s BB-minus rating of the Nigerian economy as one sliding dangerously to negative paradigm, as a true assessment.
Stating that it viewed the BB-Minus negative rating as a wake-up call, call to duty and call for introspection, the group noted that it was at a loss why President Goodluck Jonathan and the finance minister should wait for the passing of the Nigerian Sovereign Wealth Fund Bill to escape from BB-Minus rating of Fitch.
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