Following the comment made by former President Goodluck Jonathan, that he left a healthy economy at the end of his administration, The presidency on Monday in a response says that the former president has nothing to show as achievements.
The reaction came from the Senior Special Assistant to the president on media and publicity, Garba Shehu, according to him, the assertions made by Jonathan during the Saturday national convention of the Peoples’ Democratic Party (PDP) is understandable, but he handed over an economy ravaged by years of corruption and mismanagement.
He said, “It is understandable that Dr Jonathon kept his comments short, because a cursory look at any sector clearly indicated that he and his Government presided over the most monumental and tragic economic mismanagement recorded in our national history.”
“The oil sector boomed under his tenure, with oil prices as high as US$ 120 and peace in the Nigeria Delta. Nigeria earned unprecedented dollar revenues. Sadly, that is where the story turns sour.”
“There is nothing to show for the revenues earned, no major capital project was completed, neither power generation, road development, rail or agriculture benefitted from the windfall earnings.”
“Rather the administration presided over the diversion of oil revenues on a such a massive scale, that even without the protection now accorded to whistle-blowers, the then Central Bank Governor blew not only a whistle but a trumpet. He was hurriedly shown the door.”
“Meanwhile, the acquisition by public officers and their cohorts of private jets, luxury yachts and the accumulation of expensive property portfolios world-wide continued unabated.”
“Indeed the President once celebrated having the largest number of private jets, whilst our youth languished without jobs, our fields stood idle and our factories began the layoff of workers.”
“Government simply reticulated oil revenue through personal spending by corrupt leaders, wasteful expenses and salaries. This was done rather than investing in what would grow the economy.”
“Economies grow due to capital investment in assets like seaports, airports, power plants, railways, roads and housing. Nigeria cannot record a single major infrastructural project in the last 10 years. In short the money was mismanaged.”
“Such was the looting that even the goose that was laying the golden egg was being systematically starved. The direct contractual costs of oil produced, in the form of cash calls, remained unpaid.”
The presidential aide noted that incoming Buhari’s administration was confronted with a demand for US$6billion owed by Nigeria for oil that had already been sold or stolen.
He said at the inception of the current administration, 21 States were unable to meet their salary bills and the spectre of workers arrears had commenced.
The statement added: “The PDP solution was the raid the Ecological Fund and selectively grant N2Bn each to the PDP States.
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