Anyone familiar with Nigerian political debates in the last couple of years would have heard this familiar argument: Nigeria is in trouble today because the previous Govt failed to save for a rainy day.

This argument, when put forward by APC propagandists, should be awarded a 5 star for the audacity of its hypocrisy. It presupposes that the responsibility to save for a rainy day is solely that of the FG. The various state governments of course had no responsibility to save for a rainy day - despite their finances being largely dependent on Abuja allocations derived from oil revenues. According to this stunning illogic: Only the FG's 52% share of the allocations ought to have been squirrelled away whilst state governments continued with their spending and borrowing binge.

The hypocrisy is even more blatant when one remembers the following September 2014 statement of APC's policy position during the oil bonanza:

Sept. 30 (Bloomberg) -- Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February.

“We’re going to put a stop to them,” Lai Mohammed, a spokesman for the All Progressives Congress, or APC, said in an interview in London yesterday. “The sovereign wealth fund and the excess crude account are illegal.”

http://www.bloomberg.com/news/articles/2014-09-30/nigeria-s-opposition-wants-to-scrap-sovereign-oil-funds

I stand to be corrected, but you will be hard pressed to find examples of APC supporters advocating for a rainy day fund - certainly not on Nairaland - prior to the oil price collapse. To the contrary, ridicule was levelled anytime NOI talked about a need for savings.

It reminds me of Trump's claim that, unlike his political rivals, he was against the invasion of Iraq despite being on record voicing his support for the war.

The purpose of this attempt at rewriting history is to distance the APC from their fellow incompetents in the PDP, hence the emphasis on FG lack of saving. The propagandists are engaged in a bold project of mendacity.