Empty Treasury Awaits Buhari

If PDP and the President had known that they may not make it in the 2015 presidential elections, I am dead sure they would not have looted our treasury with reckless abandon. If they had known that the bubble will burst in March 28, 2015 presidential election, I bet they would have been a little bit cautious and prudent in dealing with the nation’s finances. I am sure they would have been sensible enough not to deploy the quantum of money in both local and foreign currencies we saw few days to the elections and even after the elections have been won and lost.

In a special farewell service for the President in Abuja on Sunday by the Church of Nigeria, Anglican Communion, President Jonathan lamented that he fears persecution targeted at him and his Ministers from APC-controlled Federal Government after May 29, 2015. President Jonathan had to swallow the bitter pill of letting the world know what has been troubling his innermost chambers since it became obvious that the game has been won and lost in Nigeria. The reports of the devastating state of Nigeria’s economy have not helped matters. The figures refused to add up. Nigeria cannot pay salaries, petrol cannot flow. Electricity is not available. The system is almost at stand still, hopelessly grounded and mercilessly plundered.


But what worries me most is why the President is crying out loud about possible persecution if there is nothing to worry about. If there is no skeleton in the cupboard, the President needs not bother about anything except to prepare for a decent handover ceremony on May 29, 2015. If President had done his duty to fatherland in the way it should be done, I do not see the reason for this panic statement. But like I said earlier, the figures refuse to add up and these are no bed time stories. Before 2011 when we sold crude oil at 38 US Dollars per barrel we had 62 billion US Dollars in the external reserve. From 2011 when crude oil was sold at $110 per barrel our external reserves dropped to 32 billion dollars. Now, where did all the money go?

In 1999 Nigeria had more than 3000 mw of electricity and sixteen years, after spending billions of dollars, we are still at less than 3000mw.

Again where did all the money go to? For over sixteen years, Nigerians do not know what is going on at NNPC. How much crude oil do we pump in a day? How much of it is sold outside and what quantity is for local consumption? Why are our four refineries not working? Has NNPC been accountable to anybody? Who are those behind the oil subsidy scam? Have they been brought to book? Are we not living witnesses of how those accused of oil subsidy scam found themselves back in government? How come all the terrible characters and bad boys in Nigeria found themselves in PDP for sixteen years?

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Credit: •Igbokwe is Lagos APC Publicity Secretary

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Michael is a Professional blogger, IT Consultant and a Web Designer. He loves Spending time with his PC.