Reacting to a statement by ex-President Goodluck Jonathan, the presidency said on Monday that Nigeria witnessed abuse of public funds in the most buoyant period of its history under Jonathan and the PDP.
In a statement released after Jonathan and Ahmed Makarfi, the caretaker chairman of the Peoples Democratic Party, were quoted as saying “under the previous administration, there was money but now things are very hard,” Garba Sheu said a cursory look at any sector clearly indicated that Jonathan’s 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 120 dollars and peace in the Nigeria Delta. Nigeria earned unprecedented dollar revenues. Sadly, that is where the story turns sour,” the senior media aide to Buhari said.
“Rather, the administration presided over the diversion of oil revenues on 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.”
The presidential aide further lamented that Nigeria could not record a single major infrastructural project in the last 10 years.
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“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.”
As a result, he said President Buhari’s administration was left with the task of facing serious economic challenges from the oil majors, which included the demand for six billion dollars owed by Nigeria for oil that had already been sold or stolen.
According to him, the PDP also raided the Ecological Fund and selectively grant two billion dollars each to the PDP states to pay salaries.
He further stated that it was only aggressive borrowing by the Ministry of Finance, under Ngozi Okonjo-Iweala, that prevented Federal Government from also owing salaries.