Obasanjo Goes Hard On Jonathan's Administration Again
Former President Olusegun Obasanjo has accused President
Goodluck Jonathan of squandering $25billion crude oil savings his
administration left behind.
According to Obasanjo, who disclosed this on Monday in Abeokuta, his administration left over $25 billion to his successor, Musa Yar’adua, who raised the sum to $35 billion.
He added that he left $40billion in Nigeria’s foreign reserve account after paying the outstanding debt at the time and the late Yar’adua also raised the reserves to $60billion, Premium Times reports.
He explained that under Jonathan’s administration, the reserves had dropped to $40billion.
Obasanjo said: “Our economy should not have been this bad. When I was leaving office about eight years ago, I left a very huge reserve after we had paid all our debts. Almost $25billion we kept in what they called excess crude. The excess from the budget we were saving as reserve for the rainy days. When we left in May 2007, the reserve was said to have been raised to $35billion.
“That is why the Naira has been falling against the dollar. What
would now happen, I learnt if you want to buy a dollar now, it’s about
N192 or N195. What it means is this, what you have been buying at N150
to a dollar, now you need N192 or N195 to buy it. That is the real
situation. Is there any remedy? There is, but it does not come overnight
because it means we have to give up all the bad things we have been
doing.”
The former president said he had no grudge against Jonathan but was more concerned about the interest of the country, and therefore cared less about criticisms.
“I have no grudges against Jonathan and I think Jonathan equally has no grudges against me. I’m not quarrelling with Jonathan but all I know is that whatever is good for Nigeria, that I’m ready to die for,” he said. On the forthcoming election, Obasanjo advised the electorates to vote for candidates with integrity and good records.
The former President has repeatedly taken a swipe at Jonathan’s administration, accusing him of promoting and tolerating corruption, and failing to provide security for Nigerians.
In December 2014, Obasanjo released a book, ‘My Watch’, in which he criticized President Jonathan.
On Saturday, Obasanjo had insisted that Nigeria had wasted all the chances to greatness given to it by God.
According to Obasanjo, who disclosed this on Monday in Abeokuta, his administration left over $25 billion to his successor, Musa Yar’adua, who raised the sum to $35 billion.
He added that he left $40billion in Nigeria’s foreign reserve account after paying the outstanding debt at the time and the late Yar’adua also raised the reserves to $60billion, Premium Times reports.
He explained that under Jonathan’s administration, the reserves had dropped to $40billion.
Obasanjo said: “Our economy should not have been this bad. When I was leaving office about eight years ago, I left a very huge reserve after we had paid all our debts. Almost $25billion we kept in what they called excess crude. The excess from the budget we were saving as reserve for the rainy days. When we left in May 2007, the reserve was said to have been raised to $35billion.
The former president said he had no grudge against Jonathan but was more concerned about the interest of the country, and therefore cared less about criticisms.
“I have no grudges against Jonathan and I think Jonathan equally has no grudges against me. I’m not quarrelling with Jonathan but all I know is that whatever is good for Nigeria, that I’m ready to die for,” he said. On the forthcoming election, Obasanjo advised the electorates to vote for candidates with integrity and good records.
The former President has repeatedly taken a swipe at Jonathan’s administration, accusing him of promoting and tolerating corruption, and failing to provide security for Nigerians.
In December 2014, Obasanjo released a book, ‘My Watch’, in which he criticized President Jonathan.
On Saturday, Obasanjo had insisted that Nigeria had wasted all the chances to greatness given to it by God.
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