THISDAYonline

About $40.48 billion was expended on the importation of foreign goods into the country between 1999 and June of this year, National Chairman of the ruling Peoples Democratic Party (PDP), Chief Audu Ogbeh, has said.

Ogbeh, who spoke in Abuja yesterday on the occasion of his 56th birthday warned that the "continued importation of foreign goods into the country weakens the Naira and the collapse of the economy."

The PDP National Chairman disclosed that over $10 billion was spent last year to sustain Nigerians' appetite for foreign goods.

Though he said the figure showed a decrease of about $800m when compared to the 2001 figure of over $11 billion, Ogbeh said the consequences of such expenditure on the nation's dwindling foreign exchange is devastating.

He noted that the amount spent on importation of foreign goods has continued to increase from $5.8 billion in 1999 to $7.88 billion in 2000.

The PDP chairman urged Nigerians to reduce their quest for imported goods, because "between January and June this year alone over $5.6 billion was consumed in the importation of foreign goods and there is the likelihood that the bill this year will climb up to $12 billion."

Ogbeh, who resumed in his office yesterday only to meet a surprise party organised by members of the National Working Committee (NWC) and staff of the PDP secretariat to celebrate his birthday. He also warned that unless urgent steps are taken to reverse the trend, the nation would continue to suffer the consequences of scarce foreign exchange to execute development projects.

He called on Nigerians to reflect on the economic problems facing the country and confront it once and for all.

At the social gathering in honour of the PDP chairman which held at the party secretariat, encomiums were showered on him by the Senate President, Adolphus Wabara, his deputy, Senator Ibrahim Mantu, the Minister of State for Defence, Chief Rowland Oristejiafor and other party chieftains.

Wabara described Ogbeh as a visionary leader whose personal leadership qualities was responsible for the towering heights of the PDP in recent times.

Mantu and Oristejiafor described Ogbeh as a politician endowed with patience and charisma.

In paying tributes to the politician, members of the party's NWC said Ogbeh is a great strategist and mobiliser. Directors and staff of the party presented Ogbeh two giant cakes, which were cut by him to mark the occasion.