Home FEATURES How PDP Federal Government Looted, Squandered Nation’s Treasury – Presidency

How PDP Federal Government Looted, Squandered Nation’s Treasury – Presidency

Femi Adesina
Femi Adesina

Nigeria Presidency has asked Peoples Democratic Party (PDP) to cover its face in eternal shame for the looting, plundering and squandering of the nation’s treasury by the federal it controlled for 16 years before Nigerians sacked it.
“Instead of being repeatedly impugned and castigated by the PDP and its agents for honestly telling Nigerians that the nation’s treasury has been immensely depleted and its resources looted or squandered under previous administrations of the PDP, President Buhari should be commended for the openness, transparency and accountability which he has now brought to the management of national funds.”
Reacting to the claim by the PDP National Publicity Secretary, Olisa Metuh that the mony released by President Muhammadu Buhari was the one saved by the administration of Goodluck Jonathan, special adviser to President Buhari on media and publicity, Femi Adesina described such claim as “banal  and ludicrous.
“We also reject the banal  and ludicrous demand by the PDP Spokesman, Olisa Metuh that the PDP Government which was ousted by Nigerians  at the last general elections for running the country aground, be given some credit for “saving” the funds that were disbursed as part of the intervention package approved by President Buhari.
“Mr. Metuh’s claim that a significant amount of the funds came from savings accumulated in the Excess Crude Account and handed over to the Buhari Administration is completely false and deliberately intended to mislead the public.
“As we clearly stated yesterday, the funds approved by President Buhari for sharing to the three tiers of government on Monday came entirely from dividends and taxes paid to the Federation Account by the Nigerian Liquefied Natural Gas Company (NLNG), not from the Excess Crude Account.
“The disbursed NLNG dividends and taxes  were paid into the Federation Account in June this year and confirmed by the Central Bank’s Statement to the Federal Government on July 7, 2015. The funds cannot therefore be considered “savings” by the Jonathan Administration which left office in May, 2015, as disingenuously claimed by Mr. Metuh.”
Adesina said that it was in keeping with the new spirit of openness in the running of the government that the President promptly disclosed the accrual of the NLNG dividends and taxes to the Federation Account at his recent meeting with State Governors and approved the convening of a special session of the FAAC to share it.
“As a state governor who was present at the meeting remarked, under past administrations, the states never had the benefit of such disclosures.
“Mr. Metuh and others who now ungratefully see Monday’s disbursement of the NLNG proceeds as their “legitimate” earnings  and not a “bailout” from the Federal Government may wish to tell Nigerians if such earnings were ever disclosed by the PDP Federal Government and paid to the states in the past.
“The public may also wish to note that the Buhari Administration itself has never referred to the actions which it has taken to ease the current financial difficulties of states as a “bailout.” [myad]

Leave a Reply