₦airaland Forum

Vice President, Yemi Osinbajo, has once again accused the immediate past government of President Goodluck Jonathan of throwing Nigeria into untold hardship, recession and debt.

According to him, the corruption that took place under the previous government was the reason Nigeria’s economy was currently in crisis.

Osinbajo made this statement on Monday in Lagos in a lecture entitled, “Restructuring and the Nigerian federation,” which he delivered as part activities marking the 40th anniversary of Association of Friends.

He said, “What do these figures show? They show that when oil prices were at the highest between 2010 and 2014 the government was borrowing heavily.

“From 2010 to 2014, debts moved from $35bn to $63bn. When we assumed office in 2015, the debt that the previous government left was $63bn.

“Today, three and half years later, the debt is $73bn.

“There are two reasons why despite high earnings we are poorer – the first is grand corruption and mismanagement of resources. And there is a difference between grand corruption and ordinary corruption.

“Grand corruption is directly stealing from the CBN, directly taking money from the treasury without any contract, no pretences; there’s no caution, you just take money. That was going on and I will give you several examples.

“When I got to the office as Vice-President, I couldn’t believe it. In one day, $292m was signed out and it disappeared. After that period, for two weeks, the Central Bank of Nigeria did not have cash dollar – $292m without any real explanation! We later discovered what became of the money.

“On another occasion, N60bn was moved out ostensibly for security purposes; but we know what happened.

“When you have a corrupt government, large sums of money which can be used for development is simply taken. If you are the President of Nigeria, you can literally say, ‘Go and bring money’.

“Look at a sum of N60bn; when someone can take N60bn; and $292m, that’s almost N70bn. Today, our TraderMoni scheme is costing us N20bn, where we’re giving to petty traders a loan of N10,000 and when they pay back, we give them N15,000 and when they pay back, we give them, N20,000. But somebody will take $292m, almost N70bn. If you have N70bn, you will solve the problem of seven million of those petty traders. That’s the kind of thing we are talking about and the kind of contrast that we’re trying to draw.”

https://www.mcebisco.com.ng/2018/11/how-jonathan-govt-threw-nigeria-into.html

And your govt??

How much has bubu borrowed in just 4 years without having any important project

can they just stop talking about previous governments and face the reality. for how long will they still keep blaming them. I hate this blame game

We r tired of this.

15Ebisco:
Vice President, Yemi Osinbajo, has once again accused the immediate past government of President Goodluck Jonathan of throwing Nigeria into untold hardship, recession and debt.

According to him, the corruption that took place under the previous government was the reason Nigeria’s economy was currently in crisis.

Osinbajo made this statement on Monday in Lagos in a lecture entitled, “Restructuring and the Nigerian federation,” which he delivered as part activities marking the 40th anniversary of Association of Friends.

He said, “What do these figures show? They show that when oil prices were at the highest between 2010 and 2014 the government was borrowing heavily.

“From 2010 to 2014, debts moved from $35bn to $63bn. When we assumed office in 2015, the debt that the previous government left was $63bn.

“Today, three and half years later, the debt is $73bn.

“There are two reasons why despite high earnings we are poorer – the first is grand corruption and mismanagement of resources. And there is a difference between grand corruption and ordinary corruption.

“Grand corruption is directly stealing from the CBN, directly taking money from the treasury without any contract, no pretences; there’s no caution, you just take money. That was going on and I will give you several examples.

“When I got to the office as Vice-President, I couldn’t believe it. In one day, $292m was signed out and it disappeared. After that period, for two weeks, the Central Bank of Nigeria did not have cash dollar – $292m without any real explanation! We later discovered what became of the money.

“On another occasion, N60bn was moved out ostensibly for security purposes; but we know what happened.

“When you have a corrupt government, large sums of money which can be used for development is simply taken. If you are the President of Nigeria, you can literally say, ‘Go and bring money’.

“Look at a sum of N60bn; when someone can take N60bn; and $292m, that’s almost N70bn. Today, our TraderMoni scheme is costing us N20bn, where we’re giving to petty traders a loan of N10,000 and when they pay back, we give them N15,000 and when they pay back, we give them, N20,000. But somebody will take $292m, almost N70bn. If you have N70bn, you will solve the problem of seven million of those petty traders. That’s the kind of thing we are talking about and the kind of contrast that we’re trying to draw.”

https://www.mcebisco.com.ng/2018/11/how-jonathan-govt-threw-nigeria-into.html

this man don't know what to say again. It is finished

this man is a joker. can someone remind me the amount budgeted for 2019 elections

So says the incompetent Buhari-Clone govt that borrowed more than other govts combine in just 3 years.
Useless govt.

speedyGonzales:
This guy has really. become a shiit human being,a quick visit to budgIT solves the lies

because the zombie supporters dont do research on some of the lies

yipata:
Most times I read some comments here and I wonder if our peoples brain has been sold out for dollars. because I can't understand why you are bashing someone telling you the truth and how we got to this point. If we can't identify how we got here then we will never be able to move forward towards the right direction. He is telling us how we got here and that we shouldn't repeat the same mistake again as we continue this journey and some are here telling us its stale news just because they have been paid to sell away their future.

but what are dey doing with the corruption happening under their own watch. Gandollar for example