Featured

Jonathan’s Poor Leadership To Blame For Nigeria’s Woes- Presidency

289

[dropcap]T[/dropcap]he last time Nigeria fell into recession, it was because of the global financial crisis. This time around, the Buhari administration said, the cause is a person: the former president, Goodluck Jonathan.

“The oil sector boomed under his tenure, with oil prices as high as 120 dollars and peace in the Nigeria Delta, said Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity.

“Nigeria earned unprecedented dollar revenues. Sadly, that is where the story turns sour.”

“Former President Goodluck Jonathan handed over an economy ravaged by years of mismanagement and corruption.”

The presidential aide was reacting to statements credited to former President Goodluck Jonathan and Sen. Ahmed Makarfi, the Caretaker Chairman of the party, to the effect that “under the previous administration, there was money but now things are very hard’’.

“There is nothing to show for the revenues earned; no major capital project was completed, neither power generation, road development, rail nor agriculture benefited from the windfall earnings.

“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.’’

Shehu added that 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 youths 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.”

The presidential aide further lamented that Nigeria could not record a single major infrastructural project in the last 10 years, saying that “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.’’

He, however, maintained that the 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.

 

Leave a comment

Related Articles

#EndBadGovernance protests: AGF to Police: Transfer casefiles of 72 defendants to my office

The Attorney General of the Federation (AGF) and Minister of Justice, Prince...

Morocco 2025: Ekong, Aina, Simon, Ndidi, 19 others to battle Benin Republic, Rwanda

Captain William Ekong, wingback Olaoluwa Aina, and forwards Victor Osimhen and Taiwo...

Unleash the Creativity Within! [PRT 2]

So here I am with more ideas of DIY crafts for you...

Career Advancement Tips for Men

The truth that most career people avoid accepting is that advancing in...

Nigeria-British Chamber of Commerce inagurates Atelly as 18th President, unveils programmes

Ray Atelly has been sworn in as the 18th President of the...

Kano guber poll ‘clerical error’: An Appeal Court judgment in a mire of controversy

The past few months have been characterized with legal tussles over the...

Why I did not walk out of Super Falcons before FIFA female World Cup – Waldrum

In a recent podcast interview with ‘On The Whistle’ podcast. Randy Waldrum,...

Niger’s ousted president is being denied food and electricity, says European Union

The European Union Friday said it had “deep concern” about the treatment...

Breaking: Ex-Kaduna Gov. El rufai might reject ministerial appointment 

The immediate past Governor of Kaduna State, Malam Nasir El rufai is...

President Tinubu appoints Ajuri Ngelale as special adviser media & publicity

President Bola Ahmed Tinubu, GCFR, has approved the appointment of Chief Ajuri...

Are ‘balloons’ the new drug epidemic in Nigeria?

They may look like the normal balloons you see at children’s birthday...

From Fame to Penury: The Despicable Tales of Nigerian Veteran Thespians

The entertainment industry, particularly the movie circle, has been in the eye...

Content creation is the new oil, says Broda Shaggi in an exclusive interview with PSN

There are not many in the class of Samuel Animashaun Perry otherwise...

Hubby’s watery sperm, erectile dysfunction crash two-month-old marriage

A husband’s watery sperm has forced his wife to urge the court...

Max Air Acquires 16 Year Old Boeing 777-200

Kano based Max Air Limited has taken delivery of its first Boeing...

From waste collection to classroom: Story of Adamu’s pursuit of education

Coming from the background of a family of seven children and parents...

Fuel Subsidy: Need for Labour to tread softly, Softly 

The Labour Movement in Nigeria is up in arms against the Federal...

Between the dialectics and the benefits of petroleum subsidy removal

By Paul Njowusi For many years, successive administrations in Nigeria had embraced...