Money Buhari Met When Jonathan Handed Over Could Not Sustain Nigeria For Three Weeks -Amaechi

The money that President Muhammadu Buhari met when he took over government from former President Goodluck Jonathan on May 29,2015 could not sustain Nigeria for three weeks, the Minister of Transportation, Rotimi Amaechi has alleged.

Amaechi, who said this on a Channels Television’s programme titled, ‘Hard Copy’, claimed that what Jonathan left behind was insufficient to manage the country for 21 days.

Ameachi was the former governor of Rivers State and the Chairman of the Nigerian Governors’ Forum during the administration of Jonathan.

The Transport Minister alleged that while he headed the governors’ forum, he was informed by Presidency officials that there was virtually nothing left in the government coffers.

The minister said, “When you talk about bandits and all these people that kill. It is a question about poverty. And that poverty didn’t start in this regime.

“Don’t forget that oil was sold at $110, $114, $115 per barrel. When this government came into power, oil fell to $28 per barrel and since then it has not gone above $80 per barrel.

“As former chairman of the governors’ forum, I was told by the security in a meeting chaired by the former President including the former minister of finance that at every point in time, the government must leave money behind in case Nigeria goes to war that would last for six months.

“By the time we came, they didn’t leave money behind that could last us for three weeks. And I was speaking at that time as the chairman of the governors’ forum.”

But checks by THE WHISTLER revealed that between 2015 and 2019, the Federal Government withdrew N1.5tn (about $4.92bn) from the Excess Crude Account.

The ECA, which was created by former President Olusegun Obasanjo in 2004 for the purpose of saving oil revenue in excess of the budgeted benchmark, rose from $5.1bn in 2005 to more than $20bn in November 2008.

Available statistics from the Ministry of finance showed that within five years, stretching from 2015 to 2019, a total of $4.92bn or (N1.5tn at the then government rate of N305 to a dollar) was withdrawn from the account.

In 2015 alone which was the year Buhari took over, the Federal Government gave approval for the withdrawal of N458.14bn from the ECA.