Goodluck Jonathan has revealed how he was forced to spend from the excess crude oil revenue account during his administration.
The former president made this revelation during interview programme with Bloomberg TV.
Jonathan revealed that state governors were to blame for pressurising him to spend from the reserve fund thereby reducing the $20 billion at the inception of his administration left by Olusegun Obasanjo to about $2 billion when he left office on May 29, 2015.

Goodluck Jonathan
“At any time the earnings (from oil) drop, the governors would insist that there is no place in our laws that actually say that the federal government should keep the reserve. They always insisted that a part of it (excess crude revenue account) should be brought.

Jonathan pointed out that while some argued that the crude oil reserve account was to be used for rainy days, others said it should be used during time of financial difficulty.
“Yes, it is also part of our own reserves. But, when I was there, I tried to make a special fund called a sovereign wealth fund, so that it would not be easy for one to take from there.”
The former president identified the agricultural sector as where he made the biggest transformation and that it was the best in the country’s history.
He said this achievement led to the then minister of agriculture, Akinwumi Adesina, to be elected president of the African Development Bank.
He however regretted that his administration did not do well in the mineral sector industry despite all efforts to attract investors.
“The blue print and everything was worked out. So, if somebody says I did not diversify the economy, I will say that is not true. Of course, I was president of Nigeria. Sometimes, when people ask me question, it would seem I was the president of Nigeria from Independence till 2015. I was president for five years.”
On the issue that corruption was commonplace during his administration, Jonathan said there was nothing new about it as it had been the case since the country’s independence.
“Perception is based on what people say. In Nigeria, somehow it has been a routine. From the collapse of the First Republic, what the military said was the reason for taking over was corruption.

“When the Second Republic collapsed, the same was the story. If there is a major change in government where one political party is taking over power from another one, there must be issues that would be raised.
“Yes. I cannot say the country, from beginning of independence, there was no corruption. Yes, there was corruption. I did well to cut down on corruption. My approach was not to make money available to anybody to touch.”
The former president said his administration was able to eliminate corruption in fertilizer subsidies but could not do same in the oil industry.
“The very people that have been accusing us of corruption are the very people that frustrated it. It’s unfortunate,” he lamented.
Meanwhile, Jonathan also admitted that he has been investigated for alleged corruption during his administration by President Muhmammadu Buhari’s government.
When asked if he has been investigated, Jonathan replied: “Of course, obviously, they investigated and I’ve been investigated.

Everyday this man keeps showing that nigerians do not know when sugar is put in their mouths. And everyday zoohari keeps showing that nigerians made a mistake by voting out gej. I believe amaechi was the frontrunner among the governors who wanted the money shared. Now same amaechi is saying there is no money. Apc sure knew how to scam of nigerians.

Ok

A leader without a willpower-GEJ.

That is what he did when he came out to stop fuel subsidy only for him to rescind his decision---WillPower

Mtcheeeeeeeeeeeeew. (GEJ I dey vex for you)

You are a nice man without a willpower to rule Nigerian. KEEP QUIET! Befor you anger people

dizzydane:
Goodluck Jonathan has revealed how he was forced to spend from the excess crude oil revenue account during his administration.
The former president made this revelation during interview programme with Bloomberg TV.
Jonathan revealed that state governors were to blame for pressurising him to spend from the reserve fund thereby reducing the $20 billion at the inception of his administration left by Olusegun Obasanjo to about $2 billion when he left office on May 29, 2015.

Goodluck Jonathan
“At any time the earnings (from oil) drop, the governors would insist that there is no place in our laws that actually say that the federal government should keep the reserve. They always insisted that a part of it (excess crude revenue account) should be brought.

Jonathan pointed out that while some argued that the crude oil reserve account was to be used for rainy days, others said it should be used during time of financial difficulty.
“Yes, it is also part of our own reserves. But, when I was there, I tried to make a special fund called a sovereign wealth fund, so that it would not be easy for one to take from there.”
The former president identified the agricultural sector as where he made the biggest transformation and that it was the best in the country’s history.
He said this achievement led to the then minister of agriculture, Akinwumi Adesina, to be elected president of the African Development Bank.
He however regretted that his administration did not do well in the mineral sector industry despite all efforts to attract investors.
“The blue print and everything was worked out. So, if somebody says I did not diversify the economy, I will say that is not true. Of course, I was president of Nigeria. Sometimes, when people ask me question, it would seem I was the president of Nigeria from Independence till 2015. I was president for five years.”
On the issue that corruption was commonplace during his administration, Jonathan said there was nothing new about it as it had been the case since the country’s independence.
“Perception is based on what people say. In Nigeria, somehow it has been a routine. From the collapse of the First Republic, what the military said was the reason for taking over was corruption.

“When the Second Republic collapsed, the same was the story. If there is a major change in government where one political party is taking over power from another one, there must be issues that would be raised.
“Yes. I cannot say the country, from beginning of independence, there was no corruption. Yes, there was corruption. I did well to cut down on corruption. My approach was not to make money available to anybody to touch.”
The former president said his administration was able to eliminate corruption in fertilizer subsidies but could not do same in the oil industry.
“The very people that have been accusing us of corruption are the very people that frustrated it. It’s unfortunate,” he lamented.
Meanwhile, Jonathan also admitted that he has been investigated for alleged corruption during his administration by President Muhmammadu Buhari’s government.
When asked if he has been investigated, Jonathan replied: “Of course, obviously, they investigated and I’ve been investigated.

Confused nation

How can govnors forced you? It means you lack power to make decisions.

Ineffectual buffoon comments comes to mind tho

And d yeye ametif bubuhari campaign atm was thier ring leader dat took d case to court

Inspite of d fact dat gudluck fought corruption he made money available 4d people to have wit 5k i can cook soup n feed my family 4 two weeks but now wat do we have?

They know GEJ is a Duallard and Clueless.

I see, they forced you because you were still wearing diapers?

Yeah.... That's when they found out you are just in Office and not the leader.


They did that when they realise you are only in government and not in power.


I'm not surprise, you didn't make any single decision during your presidency, they made all for you.


The Governor gave their conditions for asking for it which was because of corruption that was rampant.


Before one governor's forum meeting to the other, the money that is meant to increase always get decreased. You hear everyday about huge fund missing just like N5.


The Governor saw this and move a motion of sharing the fund and because you are not in position to accept or reject, they accepted it for you.


You are Nigeria best President as you always say, You left an economy that created Africa's richest and produce many Billionaires.


Chai...... What a leader!!!

A fi Goodluck je oye Awodi, sugbon ko le gbe adiye.
Goodluck if you love yourself and whatever remain of your self esteem pleeeeeeeeeaaaase keep quiet haba, how can you accuse your subordinates of overpowering you, you are the C IN C for God's sake chai.

Weak Man no wonder u were thrown out of aso rock

This is a lie from the pit of hell.
The governers saw how you and your ministers were practically stealing even from the common account held by all tiers of government.
Even when Lamido Sanusi told you about the $20billion stolen oil proceeds, instead of you, Jonathan, to sack the thieving ministers, you defended their stealing and fired the innocent whistle blower.How about Abba Moro who single handedly carried out a scam on hapless Immigration job applicants? Was it governors that asked you not to return the money to the applicants and fire the corrupt Moro?
Even when you knew that Nigerians have rejected you due to the obscene performance of your corrupt government, it was no governor but your corrupt self that opened the vault of the Central Bank of Nigeria in your failed attempt to bribe your way to victory in the election.Everyone you gave approval to steal our money is currently in jail or being prosecuted but we know that the God of justice will bring disgrace your way in due time. Even Methuh that you gave N400million is running around to raise a refund of the money you gave him from the money budgeted to fight Boko Haram.

You were the president and money kept disappearing from the ECA and you still have guts to blame the governors for requesting for their own seeing you can't get your filthy hands off the account.
How much did you meet and what was the FG's share after the sharing? FG was supposed to have 54% of the money from the ECA and got only $2.1 billion meaning the total left to be shared was less than $5billion, tell us what happened to the rest. Ineffectual buffoon is what you are GEJ.

eeyah!

b

The federal government received up to 45% of the excess crude oil sales.....
What happened to the 45% of this cash?
Hehehehehehe
I Love GEJ tho

SamuelAnyawu:
The federal government received up to 45% of the excess crude oil sales.....

What happened to the 45% of this cash?

Hehehehehehe

I Love GEJ tho

Nope ,it was 52% and the cash traveled to London to see the queen..

crownprince102:
Yeah.... That's when they found out you are just in Office and not the leader.


They did that when they realise you are only in government and not in power.


I'm not surprise, you didn't make any single decision during your presidency, they made all for you.


The Governor gave their conditions for asking for it which was because of corruption that was rampant.


Before one governor's forum meeting to the other, the money that is meant to increase always get decreased. You hear everyday about huge fund missing just like N5.


The Governor saw this and move a motion of sharing the fund and because you are not in position to accept or reject, they accepted it for you.


You are Nigeria best President as you always say, You left an economy that created Africa's richest and produce many Billionaires.


Chai...... What a leader!!!

GEJ is actually the real definition of an Ineffectual Buffoon. An epic cluelessness!

Very typical of the only ineffectual one.

In the Fullness of time, the looting governors both past and present who diverted the ECA+SURE-P fund will face justice.

1. Rotimi Amaechi
2. 'Tunde Fashola
3. Adams OshiOmoOle
4. Abiola Ajimobi
5. Rauf Aregbesola
6. Ibikunle Amosu
7. AbdulFatal Ahmed
8. Fayemi
And others...

Another Adam has just been spotted The governors never forced you; only that you found another means of helping your 'squandermania' through their request.

So, what happened to FG share? Do they also force to share that to your cronies.