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Jonathan Left 7 Trillion Naira Deficit For Nigeria, PDP Has Put Naija In Total Mess – Buhari’s Committee

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Jonathan Left 7 Trillion Naira Deficit For Nigeria, PDP Has Put Naija In Total Mess – Buhari’s Committee

jonathan 7 trillion deficit

June 23, 2015 – Jonathan Left 7 Trillion Naira Deficit For Nigeria, PDP Has Put Naija In Total Mess – Buhari’s Committee

Ahmed Joda, the Chairman of the transition committee put in place by President Muhammadu Buhari to interface with the former administration of President Goodluck Jonathan for a smooth handover of power on May 29, has stated that the former president left behind a N7 trillion liability.

This figure contradicts claims by officials of the administration that the country’s debt profile stood at N1.3 trillion.
Mr. Joda made the disclosure in an interview he granted the Daily Trust newspaper, published on Sunday.
Mr. Buhari’s deputy, Yemi Osinbanjo, had said shortly before the handover of power that the new government would be inheriting a debt of $63 billion.

However, the former Minister of Finance, Ngozi Okonjo-Iweala, promptly rose to the defence of Mr. Jonathan’s administration, saying of the $63 billion debt, the administration only incurred $21.8 billion.

She also said the $63.7 billion cited by Mr. Osinbajo included multilateral and domestic loans by successive federal and state governments since 1960.
Speaking on Sunday, however, Mr. Joda said, “We were told at the beginning of the exercise that the government was in deficit of at least N1.3 trillion and by the end people were talking about N7 trillion; everything is in a state of collapse.

“The civil service is bloated and the military and police, if you are a Nigerian, you know what they have been facing for a long time; everywhere is in a mess and these things have to be fixed”.
The former Federal Permanent Secretary said he had always wondered what would have been the fate of the country had Mr. Jonathan and his party, the Peoples Democratic Party, returned to power.

He said, “I often wondered, since the beginning of this exercise, if the PDP and president Jonathan had won the election what would have been the fate of Nigeria. It would have been more difficult for them to face the challenge because they had been telling people that everything was good; the roads are good.

“They were not talking about the absence of light in the house, but they were talking about the capacity to produce electricity is 12,000 megawatts out of which only 5,000 could be released. But even out of this 5,000 at the time they were doing the handing over notes only 1,300 megawatts were being generated, but they were talking about 35,000 kilometers of distribution lines and so on, but nobody told us the real problem – that there is no gas, or there is no capacity to transmit the electricity that could be generated; that even when it is delivered at the point of distribution the distribution system is so weak that it can’t take it.”

Mr. Joda further said, “if they came back, they couldn’t wake up in the morning and say we can’t pay salaries, we couldn’t do this or even pay contractors and might even not be able to pay pensions and gratuities or finance any of our operations”.

In defence of Mr. Jonathan, Ms. Okonjo-Iweala had stated that it was wrong to blame Mr. Jonathan’s administration for the huge debt stock which she said was accumulated over a long period of time by successive administrations.

She said the debts incurred under the Jonathan government were made up of $18 billion domestic component and $3.7 billion external component.

She added that between 2007 and 2011, a debt of $17.3 billion was recorded while between 2012 and 2015, the debt incurred stood at $18.1 billion.

She had further explained that the leap in the debt profile between 2012 and 2015 was triggered by the 53 per cent wage increase implemented by the late Umaru Yar’Adua administration.

[Premium Times]

4 Comments

4 Comments

  1. Patoya Michael

    June 23, 2015 at 12:10 AM

    The jonathan that many people are supporting is a trillionaire today, may devil slap him and his moron fans

  2. Jilo

    June 23, 2015 at 2:53 AM

    I felt ashamed when I first read it in Washington post that GEJ administration left a huge deficit of 7 trillion with nothing left to run the present government. How could Jonathan have left such huge debt without thinking about how the rest of populace will survive? We only claiming we are the richest black nation with nothing to show for it. We are Nation of fool, liar, thieves and deceit. The only African nations that is thriving is South Africa and Rhodesia now Zimbabwe. The reason is white people are in the helm of affairs of those Countries. Name any Africa Country that is functioning after independence from colonial masters. My suggestion for Buhari is to probe Jonathan administration at least to get some of the money back from those thieves,otherwise this will put a lot of strain on this administration. As for that lady Okonjo Iweala defending his master, she lack credibility and not trustworthy. She knew what she was doing when she was at the World bank because she was under white man. Also Jonathan must to cut down all the allowances of those legislators and save some money. If anyone cannot adjust just like the rest of masses let him/her resign. There is no time for nonsense. Why would they be canvassing for Furniture allowance, car allowance, Wardorope allowance when some common Nigerians on the street never have any clue on how to eat a meal in a day. That is all rubbish. If they cannot buy clothing for themselves, they might as well go naked publicly.

  3. OmoKehinde

    June 23, 2015 at 3:37 AM

    This revelation shouldn’t come as a surprise to any Nigeria who has been following criminal Jonathan and his supporters in the way and manner they misuse and looted national funds without any remorse or conscience. Thank God for His deliverance of Nigeria from that heartless and criminal zoologist turned president and his greedy allies. Four more years of that incompetent, low mentality, and unpatriotic Jonathan would have destroy the destiny of our beloved nation. Money laundering operation with some criminal minded people’s private jets, mass murder of innocent people, looting, darkness, inflation, fuel subsidy scam,abuse of power, mismanagement, corruption, and political bribery are all terrible legacy of criminal Jonathan and his barbaric wife. May God help PMB and his vice to help deliver the dividend of democracy through good governance, accountability, competent, good management, and national security. Nigerian people have suffered greatly in the hands of our criminal politicians and military rulers for about thirty years.

  4. sf

    June 23, 2015 at 8:01 AM

    May God help Nigeria as a whole

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