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Buhari okays disbursement of Abacha looted funds

Published

8 years ago

July 3, 2018

President Muhammadu Buhari has approved the release of funds recovered from looters under the 2018 budget, says Minister of Power, Works and Housing, Babatunde Fashola.

Fashola noted this on Monday at the Herbert Macaulay Memorial Lecture at University of Nigeria, Nsukka.

Recall that a human rights advocacy group, Socio-Economic Rights and Accountability Project, had advised the Federal Government against sharing the recovered $350m (about N115bn) Sani Abacha loot among households in 19 states across the country.

In a statement at the weekend by its Deputy Director, Timothy Adewale, SERAP contended that the planned spending was not only ill-advised but also discriminatory against citizens in the 17 excluded states.

According to him, the President had approved N120 billion from the funds for the rehabilitation of 36 roads in the country.

He added that “while other oil producing countries were busy building their nations at a time oil prices were high, the past administration in Nigeria started a different form of development, known as infrastructure of the stomach.”

According to him, the President had approved N120 billion from the funds for the rehabilitation of 36 roads in the country.

But Fashola speaking at the forum said while other oil producing countries were busy building their nations at a time oil prices were high, the past administration in Nigeria started a different form of development, known as infrastructure of the stomach.

“We should never forget this. We decided to share the money rather than invest the money just to win elections. The money that should have been used to fund the Abakaliki rice was used to import rice.

“This is the opportunity that President Buhari has come to recover through the Economic Recovery and Growth Plan.

“So, when the President is talking of change, he is talking of a time when we will invest in real infrastructural development and not stomach infrastructure.

“Unlike before, President Buhari has made a choice and that choice has led to massive development across the country.”