The Presidency on Monday said no major capital project was completed under ex-President Goodluck Jonathan, adding that the current administration inherited an economy that was “ravaged by corruption and mismanagement”.
Spokesman of President Muhammadu Buhari, Garba Shehu, said this while reacting to comments credited to Reno Omokri, Johnathan’s former media aide, who said there is no evidence that the current administration is fighting corruption.
In a statement issued on Monday, Shehu accused Jonathan of “wiping” the nation’s treasury during his time in office.
Shehu alleged that Jonathan presided over the “most monumental and tragic economic mismanagement” recorded in Nigeria’s history.
“The oil sector boomed under his [Jonathan] tenure, with oil prices as high as 120 dollars and peace in the Niger Delta. Nigeria earned unprecedented dollar revenues. Sadly, that is where the story turns sour,” the statement read.
“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.”
Shehu also said Jonathan’s administration simply reticulated oil revenue through “personal spending by corrupt leaders, wasteful expenses and salaries.”
He said it is only “aggressive” borrowing by the then ministry of finance that prevented the federal government from also owing salaries – “like was the case in 21 states”.
Shehu said when Buhari took over power in 2015, he inherited an accumulated debt and that all the factors were building up to Nigeria heading for a major crisis if the price of oil fell.
