Home NEWS Jonathan Handed Over Power In 2015 To Escape Looming Economic Recession, Fashiola

Jonathan Handed Over Power In 2015 To Escape Looming Economic Recession, Fashiola


Minister for Power, Works and Housing, Babatunde Fashola has said that former President Goodluck Jonathan conceded defeat to President Muhammadu Buhari in 2015 as a way of escaping economic recession that was obviously staring the nation in the face.

Fashola, who spoke at a Town Hall meeting in Ibadan, Oyo State, said that Jonathan never wanted to be in charge of the country’s affairs during recession, hence he relinquished power.

According to him, Jonathan’s government not only plunged the nation into recession but pushed it into debts, adding:  “what was left behind were massive debts owed to contractors who had not been paid for three to five years and who had laid off thousands of workers and shut down equipment and plants.

”That was one of the reasons why the economy first went into, and, I suspect, one of the reasons they (Goodluck administration) quickly conceded defeat.”

Fashola, who was two-term governor of Lagos State, said that when the Buhari administration assumed office in 2015, the three ministries previous budget was N19 billion for works, N5 billion for power, and N1.2 billion for housing making a total of N25.2 billion, “as at when the country was selling oil at $100 per barrel in that decade.

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“In 2017, the All Progressive Congress (APC) led administration budget for works was N394 billion; power was N69.96 billion and housing was N64.9 billion (total- N529 billion) and oil price hovered between $40-$60 per barrel.

”Let me start by saying that my ministry is responsible for delivering some of Nigeria’s critical infrastructure for transport, electricity and housing.”

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