How Jonathan’s Administration Shared N150bn 2 Weeks to 2015 Elections

Vice President Yemi Osinbajo on Monday disclosed how former president Goodluck Jonathan’s administration shared N150bn just two weeks to the 2015 elections.
Osinbajo who disclosed this at the old banquet hall of the Presidential Villa, Abuja, during the 7th presidential quarterly business forum for private sector stakeholders, described the sharing of the nation’s money as incredible, stressing that it can only happen in Nigeria.
Osinbajo said: “In one single transaction a few weeks to the the 2015 elections, sums of a N100bn and $295m were just frittered away by a few.
“When you consider that in 2014 as the Minister of Finance has said that oil price was an average of $110 a barrel and only N99bn was spent on power, works and housing and when we talk about the economy we talk as if these are normal by every standard.
“Nobody should talk about the economy when you have this kind of huge leakages and huge corruption. Corruption that completely makes nonsense of even what you are allocating to capital projects.
“We saw from the presentation of Minister of Finance that N14bn was spent on agriculture in 2014, transportation N15bn, so the total many spent on infrastructure in those three years was N153bn and in two weeks before the elections N150bn was essentially shared.
“So, if your total infrastructure spending is N150bn and you can share N153bn, that is completely incredible. That sort of thing doesn’t happen anywhere else in the world. And when we are talking about the economy, we must simply understand that that is the problem.
“I must ask again what was wrong with the Nigerian economy and what do we need to do to correct the flaws. There are several issues many of which have already been articulated but I want to talk about what I think is the biggest problem which for some reason we hardly talk about when discussing our national economy.
Osinbajo admitted that the government of President Muhammadu Buhari had not completely dealt with corruption in the country, but he said it had demonstrated enough political will to reverse the situation.

Author: News Editor

8848 stories / Browse all stories

Related Stories »

Provide your email below, and we will notify you the latest news freely.


calendar »

March 2018
« Feb   Apr »