ANGERED by allegations by the Presidency that former Vice-President, Atiku Abubakar is playing politics with the nation’s economy by offering unjustified criticisms, the Atiku Campaign Organisation Friday brought up facts and figures to buttress Atiku’s description of President Jonathan’s leadership as one imbued with "Voodoo Economics".

Mr. Bashir Yusuf Ibrahim, the Deputy Director-General (Operation) of the Atiku Campaign Organisation accused the Jonathan Presidency of deliberately distorting the ugly reality of its mismanagement of Nigeria’s economy.

"The Atiku Abubakar Campaign Organisation notes with regret the deliberate attempt by the Federal Government to distort facts and confuse Nigerians on the economic performance of the Goodluck Jonathan administration particularly in the implementation of the capital components the 2010 Appropriation Act as amended and supplemented.

It will be recalled that the 2010 Amended and Supplementary Budgets provides N2,669.01billion for recurrent non debt expenditure, N1,764.69 billion for capital expenditure, N542.38 billion for debt service and N183.58billion for statutory transfers.

"These figures as a percentage of the overall budget represent 52% for recurrent non debt expenditure, 34% for capital expenditure, 10% for debt service and 4% for statutory transfers respectively. Dr Aganga had informed the House of Representatives in plenary in the first week of November 2010 that of the entire capital budget, only the sum of N749billion had been released, cash-backed and available for Ministries, Departments and Agencies of government (MDAs) to draw from.

"This is however N1billion less than the N750billion he claimed to have released and cash-backed in response to Atiku’s statement. Dr Aganga has also been quoted to state that the federal government will increase the released and cash-backed sum to N900billion by the end of 2010, which will be an addition of N150billion.

"The Minister of Finance further informed the House of Representatives that of the N750 billion cash-backed, only N404.5billion has been accessed and utilized by MDAs.

Essentially what the Federal Government has released and cash backed is 42.5% of

the capital budget and what has been accessed and utilized by MDAs is 22.92% of the entire capital budget for 2010," he stated.

The Atiku Campaign Organisation said the Jonathan presidency is deliberately making fraudulent claims about its implementation of the nation’s budget.

"For the Federal Government to now lay a claim of having implemented the capital

budget up to 64.6% is nothing but a fraud. Nigerians should ask President Jonathan, 64.6% of what figure? The figures of capital budget implementation vis, 97.3% for Niger Delta, 96.7% for FCT, 86.7% for Agriculture, 86.05 for Defence and 67% for power attracts the same question; percentages of which figure?

"Essentially, the government has made up its mind to sabotage the implementation of the 2010 capital budget by setting a target of releasing only N900 billion which is 51% of the appropriated sum. Even these figures put forward by the Federal Government are doubtful considering that the minister and the Budget Office of the Federation have failed, neglected and refused to publish the 3rd Quarter Budget Implementation Report which in accordance with section 30 the Fiscal Responsibility Act is due within 30 days of the end of the 3rd Quarter.

"The most recent and available Budget Implementation Report is that of the 2nd Quarter of 2010 which shows a release of N404.819 billion as released and cash backed whilst N124,789billion has been accessed and utilized by MDAs.

"The depletion of the Excess Crude Account (ECA) without concrete improvements in the living conditions of Nigerians questions the prudence of the administration."

http://thenationonlineng.net/web3/news/20092.html

I think atiku don't knw the meaning of 'voodoo'. Even atiku has no agenda for nigeria if not he wld have been campaigning on them