PassingShot:


Can you provide your proof to the claim? I mean credible proof.

PTF Fraud: How N25 Billion was stolen under Buhari’s watch

The Petroleum Trust Fund was inaugurated by the Abacha administration in March 1995 and General Muhammadu Buhari was appointed to head the Fund which was formed sequel to the increase in the pump price of petrol to N 11 from N 3.25. The then Head of State, Gen Abacha had said then that the Fund was to distribute the gain from the increased price on social and infrastructural projects.

The Fund started work with an initial capital of about N60b in 1996 with a mandate that included the rehabilitation of roads and waterways, educational and health institutions, providing textbooks and stationery, procuring essential drugs and vaccines, providing water supply systems, reviving crumbling agricultural sectors, connecting outlying areas to the national electricity grid, extending railways and telecommunications and ensuring consistent food supply.

Buhari often referred to as Mai Gaskiya (the honest one) was apparently considered for the job mainly because of the qualities he possessed, with the Abacha led government feeling that would douse the tension generated by the increase in fuel prices. With time however, allegations started flying that the PTF was no more than another avenue for the Abacha administration to siphon funds.

On assumption of office in 1999, Chief Obasanjo disbanded the PTF. One of the discoveries made by the administration was that between its inception and July, 1999, the funds that accrued to the PTF stood at N 181 billion. It was also found out that the Consultants appointed by the Executive Chairman of the Trust Fund, Gen Buhari constantly fleeced the country of funds running into billions.

In 2000, the Obasanjo administration set up an Interim Management Committee to take a look into the affairs of the Petroleum (Special) Trust Fund and ascertain among other things, how much has been spent by the PTF so far and what is on ground to justify the huge expenditure. The Committee the set to work and accomplished all the terms of reference by March 2000. The Interim Management Committee submitted that:

Term of Reference No 1:
The Interim Management Committee has already ascertained the total income that has accrued to PTF from its inception to date. The total amount that has accrued to PTF is N 181, 795, 000, 000 (One hundred and eighty one billion, seven hundred and ninety five million Naira). The report for the ascertainment of accrued income has been completed.

Term of Reference No 2
Independent Consultants were commissioned by the Interim Management Committee to ascertain the state of all the bank accounts operated by the Petroleum Special Trust Fund from its inception up to September, 1999.

All the assignments have been completed and all the reports submitted. An Executive Summary was prepared and a total of N 3, 642, 982, 280 (Three billion, six hundred and forty two million, nine hundred and eighty two thousand, two hundred and eighty Naira) was found to be recoverable from various banks, due to excess charges, under payment of interest on fixed term deposits and non-payment of interest on current account balances, as stipulated by Central Bank of Nigeria guidelines.

Terms of Reference No 3
The Petroleum Special Trust Fund intervened in, prepared and packaged, ready for transfer to the appropriate line ministry

(b) Food Supply Sector All the necessary verification work have been concluded for projects and programmes and reports already supplied by independent consultants. The programme is already in the process of being transferred to the appropriate ministry, as per the approval given by Mr President.

(c) Education Sector  i) Educational Materials Procurement Programme: The verification of the entire programme has already been done and the process of handing over the whole programme to the appropriate beneficiaries has reached an advance stage as directed by Mr President ii) Rehabilitation of Educational Institutions: The services of various consultants have been used to carry out the technical audit of all the projects throughout the country and a comprehensive up to date report has already been completed by the co-ordinating consultants. The preparation of an Executive Summary has reached an advanced stage.

(d) Health Sector: (i) Drug Revolving Fund: The drug revolving fund programme has been thoroughly verified and all available stocks have been transferred to the various state governments. As per the directive of Mr President (ii) Rehabilitation of Health Institutions: The programme for the rehabilitation of Health Institutions throughout the country has been verified and a comprehensive up to date status report prepared. And Executive Summary for the attention of Mr President is being prepared.

(e) Water Supply Sector: All projects and programmes under this sector have been thoroughly verified in compliance with the terms of reference No 3. A comprehensive and up to date report has already been completed.

(f) Other Project Sector: The projects under the sector which were commenced have already been completed. The rest of the projects are yet to commence. The report stating the above mentioned up to date status of all projects under this sector has already been completed.

Terms Of Reference No 4

(i)  The audited account of the fund as at 30th June, 1999 stating the Assets and Liabilities of the Petroleum Special Trust Fund has already been prepared by the KPMG Audit, a firm of Chartered Accountants. (ii) The Audited Accounts of the fund as at 31st December, 1999 stating the Assets and Liabilities of the fund has already been prepared by Pricewaterhouse Coopers Audit, a firm of Chartered Accountants. (iii) The Audited Accounts of the Fund for the month commencing January, 2000 to June 30th 2000 is to commence when the IMC was replaced. This would have given the asset and liabilities of the Fund at the end of the terms of the former IMC.
Terms Of Reference No 5

The present administrative structure was carefully examined and the best option is to transfer each departmental staff operating a project sector to the appropriate ministry where the projects are transferred. This will reduce hardship on the staff and also will enhance the capacity of the ministry concerned for it to cope with the additional responsibility.

Terms of Reference No 6 and 7
The former IMC has undertaken a thorough technical audit of all projects and programmes using well experienced independent consultants. In the process of the technical audit, the sanctity of all contracts agreement was upheld and all costs were evaluated to a realistic level. The value of work done up to date has been ascertained and the estimated cost of completion has also been calculated. The appropriate ministry that will be responsible for the completion of any project may further negotiate the time and cost of completion of any project.

As it has been enumerated above, all the terms of reference given to the former IMC has already been virtually completed. The handing over of projects to respective ministries has already commenced. The former IMC would have completed the winding down of the activities of the Petroleum Special Trust Fund as directed by Mr President by the end of June, 2000.

The total public funds to be recovered from various contractors, banks and consultants amounted to about Twenty five billion, seven hundred and fifty eight million five hundred and thirty two thousand four hundred and forty eight Naira.

Below is the Executive Summary of various reports of the independent consultants on verification exercise which resulted in the funds recoveries.

Members of The Interim Management Committee Are As Follows:
Dr. Haroun Adamu (Chairman), Alhaji Abdu Abdurrahim, Barrister Achana Gaius Yaro, Arc Edward Eguavoen, Mr. T. Andrew Adegboro, Engr Baba Goni Machina

Report On The Amount To Be Recovered From Some PTF Projects And Programmes
The Interim Management Committee was appointed by Mr President. One of the terms of reference of their appointment is to carry out verification exercise on all projects and programmes prior to packaging the projects and programmes for subsequent transfer to the appropriate line ministries. The recoverable exercises of the under-listed projects were completed and the various reports and the IMC recommendations forwarded to President Obasanjo for further directives.

The Listed Projects Are –
(i) Afriproject Consortium (APC) PTF Management Consultants and also Project Consultants (ii) PTF intervention in the HIV/AIDS Programme (iii) PTF Health Sector Intervention inputs (iv) PTF Prevalent cases of expiring drugs all over the country (v) PTF residential estate development on Plot 780 Cadastral Zone  A8, Abuja FCT (vi) PTF Head Office extension contract at Airport Road, Abuja (vii) PTF-Bank accounts operated from inception to 31st December 1999.

AFPRI- Project Consortium (APC) Afri-Project Consortium were contracted by PTF as Management Consultants and Project Consultants. The former Chairman of PTF also delegated to them the power of Engineer in all appropriate project requiring such power. Afriproject Consortium then assumed an absolute power of initiation, approval and execution of all projects.

Three reputable management consulting firms were engaged to verify all payments made to (APC) from the inception of PTF up to 30th September, 1999. On verification it was found that they have over charged PTF for their services to the tune of N 2, 057, 550, 062 (Two billion fifty seven million five hundred and fifty thousand and sixty two Naira only).

(ii) PTF Assisted HIV/ AIDS Programmes : The intervention of PTF in the HIV/AIDS was flawed due to professional negligence by the management consultants. There was an excessive order of HIV/AIDS kits which resulted in most of the kits expiring before use. Also there was gross inflation of the purchase price. The two factors combined resulted in a loss of N 579,000,000 (Five hundred and seventy nine million Naira only).

(iii) PTF Intervention Programmes : PTF intervention in the health sector input programmes totalled to about N 9 billion Naira. The projects were executed by the management consultants and PTF in-house staff. In this sector there are three glaring areas of loss: (a) Purchase of specific frames which was done at N 1,900 each while they can be purchased locally at a price between N 80 and N 880. This resulted in total loss of N 45, 270,000 (b) Purchase of ambulances which was done at N 13,000,000 each instead of the price of N 3,000,000 each. This resulted in total loss of N 900,000,000 (Nine hundred million Naira only). (c) Purchase of drugs was done to the tune of N 3.08 billion. Price inflation and expiring of drugs resulted in a loss to PTF of about N 1, 500, 000,000 ( one billion, five hundred million Naira).

(iv) PTF Prevalence Expiring Drugs All Over The Country: A team of Pharmacists were commissioned to verify the Drugs Revolving Fund Programmes. Their findings were very depressing. A huge loss has been incurred by PTF as enumerated below:- (a) Drugs and consumables worth N 817, 831,723 (Eight hundred and seventeen million, eight and thirty one thousand seven hundred and twenty three Naira only) were found to have expired by October, 1999 (b) another quantity of drugs worth N 94, 741, 517 expired in December, 1999 (c) drugs worth N 233, 416, 829 will expire by March 2000 (d) Drugs worth N 461, 255,073 will expire by June 2000 (e) Drugs worth N 429, 117, 861 will expire by September, 2000 (f) Drugs worth N 1, 196, 276, 052 will expire by October- December, 2000.

There were many cases of deterioration of drugs as a result of faulty manufacturing, inappropriate packaging, improper storage and excess stock.

(v) PTF Residential Estate: The involvement of PTF in Residential Estate    Development was out of its intervention sphere. As at now, the estate has been confiscated by government. The contract sum is N 703, 815, 416 (Seven hundred and three million, eight hundred and fifteen thousand four hundred and sixteen Naira only) while after verification, the whole project was valued at N 328, 901, 521 (Three hundred and Twenty Eight Million nine hundred and one thousand, five hundred and twenty one Naira only). There was an inflation of the contract to the tune of N 374, 913, 895 (Three hundred and seventy four million, nine hundred and thirteen thousand eight hundred and ninety five Naira only).

(vi) PTF Headquarters Extension: The IMC Commissioned Consultants to determine the current construction cost of the on-going extension at the headquarters office. The current construction cost determined by the Consultant came to N 326, 207, 861 (Three hundred and twenty six million, two hundred and seven thousand, eight hundred and sixty one Naira only) as against a contract sum of N 461, 216, 759 (Four hundred and sixty one million, two hundred and sixteen thousand, seven hundred and fifty nine Naira only) this resulted in contract sum inflation of N 135, 008, 879 (One hundred and thirty five million, eight thousand eight hundred and seventy nine Naira only).

(vii) Bank Accounts Operated By PTF From Inception To December 31, 1999: Various Consultants were commissioned to verify the Bank accounts operated by PTF from inception of the Fund up to 31st December, 1999. The Fund operated its bank accounts under three different categories viz- (a) Administration Account (b) Project Account (c) Treasury Account. Recoveries to be made from the various banks are as follow:

(a)    Administration Account Total Amount recoverable is N 664, 415, 793 (Six hundred and sixty four million, four hundred and fifteen thousand seven hundred and ninety three Naira only). This is mainly due to overcharge on Cost of Turnover (COT), non-payment of interest on current account balances as stipulated by Central Bank of Nigeria (CBN) and other various discrepancies.

(b)   Project Account On project Account, total amount recoverable is N 2, 467, 817, 167 (Two billion, four hundred and sixty seven million, eight hundred and seventeen thousand, one hundred and sixty seven Naira only). This is made up mainly from overcharge of Cost of Turnover (COT), non-payment of interest on Current Account balances as stipulated by Central Bank of Nigeria (CBN) and other various discrepancies.

(c)    Treasury Account All the Treasury Accounts were verified and amount to be recovered is N 510, 749, 323 (Five hundred and ten million, seven hundred and forty nine thousand, three hundred and twenty three Naira only). This is mainly due to short-payment of interest on deposited funds. (See Box A).

The total sum of N 11, 658, 532, 448 (Eleven billion, six hundred and fifty eight million, five hundred and thirty two thousand four hundred and forty eight Naira only) is recoverable as per various reports completed as at now.

1.Other Potential Areas Of Fund Recovery : Road (Highways and Urban Roads) The PSTF uses about 70% of its income on highways and Urban Road Projects. In this project sector, there was total variation of contract sums of N 68,000,000,000 (Sixty eight billion Naira). These variations were not done with properly priced bills of quantities and approved civil contracts procedure as stipulated by government regulations. Taking the experience of what has been discovered after verification of previous contracts awarded by PSTF, the minimum potential recovery will be about 15%. This estimated percentage will be about N 10, 000, 000 (Ten billion Naira). The verification of this project sector was about to take off when the IMC members were replaced.

2. Rural Water Supply Programme The area of potential fund recoveries under this programme are basically two :-  (i) Mobilisation paid to contractors who by now have not even commenced work (ii) Over pricing of contracts. The amount to be recovered from this project sector can be conservatively estimated at N 1,000,000,000 (One billion Naira).

The detail verification report on this programme has already been completed. The executive summary of this report was in the process of compilation when the IMC members were replaced.

3. National Health and Educational Institutions Rehabilitation Programme The detail verification exercise on this sector has already been completed by various independent Consultants. The executive summary for total amounts recoverable is now in the process of being compiled. The conservative estimate of amount recoverable due to non-performance of contractors and over-pricing of contract is about N 600,000,000 (Six hundred million Naira).

4. National Educational Material Procurement Programme This programme entails the purchase of educational materials such as text books, exercise books, chalk, dusters, pencils, biro, magazines, maps etc. The verification exercise of this programme is yet to commence. The conservative estimate of recoveries to be made due to non-performance by contractors and inflation of prices will be in the region of N 900,000,000 (Nine hundred million Naira).

5. Rural Telecommunication Programme The Rural Telecommunication Programme was supposed to be carried out in two phases viz: – (i) Pilot programme (ii) The main programme. The main programme was to commence after the pilot programme has been completed and certified as operational, but mobilisation of N 1, 600,000 (One billion, six hundred million Naira) was paid to the contractors for the main programme without any contract being signed at all.

In view of the government policy at present, the full amount of the mobilization paid can be recovered (i.e N 1,600,000,000), See Box B

The Committee recommended that the total recoverable amount can be used to offset some of the outstanding debts because some of the creditors are contractors from whom these amounts are to be recovered. It also recommended that the President may wish to set up a high powered judicial panel to recover the huge public fund and to take the necessary action against any officer, consultant or contractor whose negligence resulted in this colossal loss of public funds.

The Interim Management Committee Members who compiled this report include Dr. Haroun Adamu (Chairman), Alh. Abdu Abdurrahim, Barrister Achana Gaius Yaro, Arc. Edward Eguavoen, Mr. T Andrew Adegboro and Engr. Baba Goni Machina.

LRNZH:


Why do you think Abba Moro or Diezani Alison Maduekwe are deemed to have failed?

They're Ministers under GEJ but the immigration scams and the unimaginable oil bunkering going on respectively under them are a failure on their part, and then on GEJ’s part.

I don't think you understand organisational structure and managemnt from your statements

and bombing is credited to Jonathan even when hausa parents are donating their daughters for bombing sprees

failure and success is credited to the Head of Government, if head of state did not approve then, who was Buhari to build a refinery,

according to you and your cohorts 20 months was too short to achieve anything, but it was long enough to cancel mega railway projects in lagos and stall all capital projects.
it was long enough to unleash the army on the people in the name of KAI, flogging civilian li ke animals
it was long enough to gag the press so that nobody could say the evils he perpetrated

[size=21pt]
Buhari as head of state achieved nothing in terms of developing the country, prove me wrong

case closed[/size]

if you cant prove me wrong dont quote me again

I expect this thread to die the natural death, most APC lying threads die.

LRNZH...badoleee! ...keep causing dem grief!

docadams:
@ LRNZH: I implore you to disregard Ngwakwe and continue with your submission. He is blinded in all fields of vision so much that he may not recognise himself when he stands before the mirror.

Hello wait, can't you envisage what the fraudulent publication was meant to achieve then.

It was to cover up massive loot going on as at then for instance the report stated:

5. Rural Telecommunication Programme
The Rural Telecommunication Programme was supposed to be carried out in two phases viz: – (i) Pilot programme (ii) The main programme.

The main programme was to commence after the pilot programme has been completed and certified as operational, but mobilisation of N 1, 600,000 (One billion, six hundred million Naira) was paid to the contractors for the main programme without any contract being signed at all.

please let us not forget to give some credit to Gen. Sani Abacha who set up PTF and wisely appointed Buhari - another evidence Abacha was not corrupt.

Caseless:
The only time i got something from gov't as a citizen of Nigeria, it came from PTF. Ofcourse, I got textbooks with inscription "NOT FOR SALE " on its cover-page and I visited PTF-owned hospital at Sabon Gari, Tudun wada, Kaduna state without paying any medical fee. Recalling that this gesture signifies I'm a Nigerian , also, realising it came from an agency(PTF) headed by GMB at that time- I get drawn to him(GMB) even more.
Sai Buhari!

https://www.youtube.com/watch?v=W_j5lcsDhfo&index=40&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V



https://www.youtube.com/watch?v=_xhN5fljkIw&index=34&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V



https://www.youtube.com/watch?v=_Bd71UMEYJ0&index=21&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V

docadams:
@ LRNZH: I implore you to disregard Ngwakwe and continue with your submission. He is blinded in all fields of vision so much that he may not recognise himself when he stands before the mirror.

I didn't know how golden silence is until now.

24 Carat Gold silence is my mantra if I detect dementia.

I'm with you on this one.

Is some1 trying to repackage buhari the old gizzard effortlessly? Hahahahahaha, that person has failed woefully.

LRNZH:


Thanks for your assertion.

I laugh so much at all the long epistles being posted by TANoids.

Here's the source they didn't want to provide: POINTLANK NEWS http://pointblanknews.com/pbn/exclusive/ptf-fraud-how-n25-billion-was-stolen-under-buharis-watch/

The article is undated and no other media house or national daily carried this fabrication. There's no case as far as I am concerned.

The audited account of the fund as at 30th June, 1999 stating the Assets and Liabilities of the Petroleum Special Trust Fund has already been prepared by the KPMG Audit, a firm of Chartered Accountants. (ii) The Audited Accounts of the fund as at 31st December, 1999 stating the Assets and Liabilities of the fund has already been prepared by Pricewaterhouse Coopers Audit, a firm of Chartered Accountants. (iii) The Audited Accounts of the Fund for the month commencing January, 2000 to June 30th 2000 is to commence when the IMC was replaced

Iykopee:
Is some1 trying to repackage buhari the old gizzard effortlessly? Hahahahahaha, that person has failed woefully.

na so we seeam, a serious question that i asked the op the answer was a laugh
all Buhari supporters always dodge that question, none has been able to stand tall and defend him

Ngwakwe:
Have these people carried these lies to Nairaland?

A success story that kept Nigeria underdeveloped, impoverished, infrastructurally deficient and more also created tens of millions almajiris roaming the streets across Northern Nigeria when the opportunity to eradicate the menace called.

There is no length these repackaging machineries won't go to decorate a too-dented commodity.

It seems their target is Nigerians born after Buhari's infamous, sectional and corrupt laden PTF.

Youths and Nigerians done suffer. A season of grandstanding half-truth, deception and outright lies.

The PTF even claimed to rehabilitate roads more than total of what we have in Nigeria today.

Whoa! This is bigotry at a different level. In your ignorance, you claim that Nigeria has just 12,000km of roads. Even when corrected, you are yet to apologise. In passim, I have read contributions citing you as a biased moderator of this forum. I gave it short shrift; your quoted views above justify those allegations. This article was written by the respected columnist Pini Jason in 1998 without any political connotation. If anything, the claims of inflated contracts have NEVER been justified, proven or prosecuted. Rather, evidence points to the contrary. At this rate, you people and your revisionism would rewrite the history of Nigeria. What has PTF got to do with creation of almajiris? Very soon you will link it to Boko Haram origins. A life lesson you need to imbibe is that you can give some credit to your opponent when he's done something well. That's the mark of a real man. Stop these lies.

pheliciti:


Whoa! This is bigotry at a different level. In your ignorance, you claim that Nigeria has just 12,000km of roads. Even when corrected, you are yet to apologise. In passim, I have read contributions citing you as a biased moderator of this forum. I gave it short shrift; your quoted views above justify those allegations. This article was written by the respected columnist Pini Jason in 1998 without any political connotation. If anything, the claims of inflated contracts have NEVER been justified, proven or prosecuted. Rather, evidence points to the contrary. At this rate, you people and your revisionism would rewrite the history of Nigeria. What has PTF got to do with creation of almajiris? Very soon you will link it to Boko Haram origins. A life lesson you need to imbibe is that you can give some credit to your opponent when he's done something well. That's the mark of a real man. Stop these lies.

Take your prejudice to where the sun doesn't shine. I knew with 100% certainty that the article is a fat lie, paid job and journalistic fraud before confronting it.

I have the proof to it and not this your side talk and inexperience attitude to logical assessment.

Your hypocrisy got exposed when you failed to understand what moderators jobs are all about in relation to their freedom to expression.

Just follow the thread and try to understand the fraudulent attempts to repackage the over dented grandmaster Mohammadu Buhari

pheliciti:

If anything, the claims of inflated contracts have NEVER been justified, proven or prosecuted. Rather, evidence points to the contrary.

If I can't decipher who you are, the above quote says it all

Have you ever taken this stance on matters relating to allegations against President Goodluck Jonathan administration?

The report posted was comprehensive and their recommendations included your suggestions until OBJ decided to kill it.

[b]The Economic Theory of Buharism - Sanusi Lamido Sanusi July, 2002 excerpt

One of the greatest myths spun around Buharism was that it lacked a sound basis in economic theory. As evidence of this, the regime that succeeded Buhari employed the services of economic “gurus” of “international standard” as the architects of fiscal and monetary policy. These were IMF and World Bank economists like Dr. Chu Okongwu and Dr Kalu Idika Kalu, as well as Mr SAP himself, Chief Olu Falae (an economist trained at Yale).

At the time Buhari’s Finance Minister, Dr Onaolapo Soleye (who was not a trained economist) was debating with the pro-IMF lobby and explaining why the naira would not be devalued I was teaching economics at the Ahmadu Bello University. I had no doubt in my mind that the position of Buharism was based on a sound understanding of neo-classical economics and that those who were pushing for devaluation either did not understand their subject or were acting deliberately as agents of international capital in its rampage against all barriers set up by sovereign states to protect the integrity of the domestic economy.

I still believe some of the key economic policy experts of the IBB administration were economic saboteurs who should be tried for treason. When the IMF recently owned up to “mistakes” in its policy prescriptions all patriotic economists saw it for what it was: A hypocritical statement of remorse after attaining set objectives

Read more: http://www.gamji.com/sanusi/sanusi26.htm[/b]

Ngwakwe:


If I can't decipher who you are, the above quote says it all

Have you ever taken this stance on matters relating to allegations against President Goodluck Jonathan administration?

The report posted was comprehensive and their recommendations included your suggestions until OBJ decided to kill it.

As far as you are concerned, my credential to objectivity is taking a stance when allegations are made against the Jonathan administration? If I understand you correctly, then it's unfortunate. BTW, you guys do a great job parroting arguments in support of the Jonathan administration, so why do you need me to do same? Just view me as someone that likes the underdog, especially when they are being maligned.
One such evidence of malafides is the purported audit report you posted. Note 3 things flowing from the document:
1. The audit blames Buhari for drugs that expired in October 1999 when his PTF was disbanded in May 1999
2. Many parts of the report stated clearly that items of work had not been verified; yet, they had concluded on amounts to be recoverable
3. Any reason why nobody was prosecuted from Buhari's PTF, rather it was officials of the IMC that were arrested on account of fraud and extortion.
Please note that Obasanjo did not kill the report. NO! He thrashed it when he found that the officials of the IMC had ulterior motives as they started collecting bribes from contractors. obasanjo then went against those IMC officials.

LRNZH:


Thanks for your assertion.

I laugh so much at all the long epistles being posted by TANoids.

Here's the source they didn't want to provide: POINTLANK NEWS http://pointblanknews.com/pbn/exclusive/ptf-fraud-how-n25-billion-was-stolen-under-buharis-watch/

The article is undated and no other media house or national daily carried this fabrication. There's no case as far as objectivity is concerned.

Watch! When they want to lie they don't provide links.

that ngwa man lie a lot.

GenBuhari:
please let us not forget to give some credit to Gen. Sani Abacha who set up PTF and wisely appointed Buhari - another evidence Abacha was not corrupt.


https://www.youtube.com/watch?v=W_j5lcsDhfo&index=40&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V



https://www.youtube.com/watch?v=_xhN5fljkIw&index=34&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V



https://www.youtube.com/watch?v=_Bd71UMEYJ0&index=21&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V

I dont real care what people say about abacha- I like him.

LRNZH:


Abacha's major weakness was his intolerance for dissent and his plan to metamorphose into a civilian President thereby stockpiling money's for the transition.

Otherwise, he was truly Pan-Nigeria.

The rail project GEJ is claiming but cannot complete after 6 years was Abacha's brainchild.

as at 1996-1997, Abacha was already giving the SS a reasonable percentage of close to 17% and he linked most creek in that region. Like u said, that transition was really his problem- this ambition got him stashing money.

OP May God bless you for this article. We pray for a replica of the PTF achievement and we know that the general is more energetic and capable to bring those performance on board.

Sai Buhari

LRNZH:


Abacha's major weakness was his intolerance for dissent and his plan to metamorphose into a civilian President thereby stockpiling money's for the transition.

Otherwise, he was truly Pan-Nigeria.

The rail project GEJ is claiming but cannot complete after 6 years was Abacha's brainchild.

Please I would like to see proof that the railways was Abacha's project.

Thanks

Chei all these things happened under messiah buhari....u guys are bad kudos altwireless and ngkwe

Ngwakwe:





The audited account of the fund as at 30th June, 1999 stating the Assets and Liabilities of the Petroleum Special Trust Fund has already been prepared by the KPMG Audit, a firm of Chartered Accountants. (ii) The Audited Accounts of the fund as at 31st December, 1999 stating the Assets and Liabilities of the fund has already been prepared by Pricewaterhouse Coopers Audit, a firm of Chartered Accountants. (iii) The Audited Accounts of the Fund for the month commencing January, 2000 to June 30th 2000 is to commence when the IMC was replaced

calebo101:


Please I would like to see proof that the railways was Abacha's project.

Thanks

I have somethings for you. See excerpts below:
Daily Trust: http://dailytrust.com.ng/weekly/index.php/opinion/16626-how-pettiness-slowed-down-rail-projects
And to his credit, General Abacha demonstrated incredible zeal in the implementation of the railway rehabilitation and modernization policy. In no time, the projects took off and were making remarkable progress across the country. The relevance of any projects is determined by how far they can positively impact on the lives of the people. And there is no doubt that the rehabilitation of Nigeria’s railway system was one of the most indelible legacies of the late General Abacha administration.
These projects would have by now been completed, but they were frustrated by former President Obasanjo’s petty politics. As soon as he was sworn into office in May 1999, Obasanjo stopped the railway rehabilitation projects because he didn’t want anything that would give credit to the memory of the late Abacha.

Shamelessly, towards the end of his tenure in 2007, former President Obasanjo re-awarded the same railway projects he had suspended at a more staggering cost to Nigeria.

When the late President Umaru Musa Yar’adua succeeded Obasanjo, he found himself overburdened with the heavy costs of the projects

Punch Newspapers carry a less glowing narrative. : http://www.punchng.com/editorial/false-dawn-in-railway-sector-2/
In its bid to revive the sub-sector, the Sani Abacha military dictatorship in 1995 awarded a $500 million contract to modernise the Lagos-Kano rail line to the Chinese construction giant, CCECC. Despite the loss Nigeria incurred after CCECC failed to execute the contract, the Olusegun Obasanjo Administration reawarded the same Lagos-Kano rail modernisation contract to the same company at the sum of $8.5 billion. In 2008, Robert Ejenavi, a former Auditor-General of the Federation, told a public hearing that “the nation spent over $826.6 million” on the railways without results.

Conservatively, the Goodluck Jonathan Administration has awarded railway contracts worth more than $3 billion. This is in addition to budgetary allocations of N104 billion since 2009 to the NRC. Yet, all the avalanche of financial provisions has gone to waste, with the railways still highly inefficient.

I hope this helps.

Gone through the link and it's same story of awarded or earmarked project but not eyemarked.!

So wouldn't it be fair to give kudos to Jonathan for awarding the contract and seeing it come to fruition despite the challenges he's facing?

Abacha awarded, couldn't deliver.. Obasanjo awarded, couldn't deliver. Jonathan awarded and it's being delivered! Isn't that progress sir?