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Okonjo-Iweala Spent $2.1bn Without Approval, Says FG - Politics (6) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Okonjo-Iweala Spent $2.1bn Without Approval, Says FG (23557 Views)

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Re: Okonjo-Iweala Spent $2.1bn Without Approval, Says FG by mightyokwy(m): 8:55pm On Jun 30, 2015
TeamSimple:

He never said empty treasury but NEAR empty treasury. And yes the treasury is near empty,because if you think GEJ's govt leaving us with 30b dollars is an achievement,then you don't know anything about the socio-economic dispensation of Nigeria. Obasanjo cleared our debt and left 48b dollars in the federation account, Yaradua increased it to near 60b. Gej met a reserve of close to 60b,mind you Gejs 5year out of his spent 6years witnessed the highest price for crude oil sale on the internationa market,selling above 100dollars per barrel. Therefore he was in a better position to increase the reserve and not deplete it. We went from being a bouyant Nation with 60b dollars,to being a borrowing nation,we now have heavy local and foreign debt.
And to bring to your notice,the amount we have in our reserves also affects the balance between the Naira and dollar. And that ONE of the reasons the Naira took a sharp drop from 150 exchange rate to the 220 we have at present.
So bro,taking into cognizance the various sectors of the economy that needs financial support at the moment,from simple mathematics you will know 30b dollars is just a peanut to what Nigeria need if it wants to develop.
But still,the present administration should stop the blame thing and work with the little we have. They knew it was like this before clamouring for power,now they have it,let them look for a way out or they will also be termed SPOILERS.
My bro leave matter for mathayas, abeg no blem GEJ bcs he did not use the money for him self. The cash was share among the 36 state of federation. The governors even took him to court to ensure that the cash was squandered. Next time apportion blame to those greedy governors.
Re: Okonjo-Iweala Spent $2.1bn Without Approval, Says FG by Adezy1(m): 9:25pm On Jun 30, 2015
Adeyinka12:
A country with law and order, oga oo .well let hear her response on this first




Which law, which country u mean Niger or Nigeria anyway we don't ve law in this country Nigeria.

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