Squandered $65bn: Fani-Kayode reacts to Amaechi’s allegation against Jonathan | Nigeria News Today. Your online Nigerian Newspaper f

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Femi Fani-Kayode, former Minister of Aviation, has reacted to a statement credited to Minister of Transportation, Rotimi Amaechi that ex-President Goodluck Jonathan squandered $65bn saved by ex-President Olusegun Obasanjo.
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Dismissing the claim of the former Rivers State Governor, Fani-Kayode said Amaechi should ask those in the administration of late President Musa Yar’Adua how the fund saved by Obasanjo was spent.

In a tweet via his Twitter handle, the former Minister concurred that Obasanjo saved during his administration.

He wrote, “OBJ’s record in terms of savings, prudence and fiscal discipline remains unbeaten.This is an incontrovertible and indisputable fact.

“It is also a fact that both our Excess Crude Account and Foreign Reserves were heavily depleted in the three years after he left office.

“When OBJ came to power in 1999 he met $1.1 billion in foreign reserves and no Excess Crude Account.

“When he left power in 2007 he left $45 billion in foreign reserves and $22 billion in the Excess Crude Account.

“OBJ left an unbeaten record total of $67 billion in savings!

“When Yar’adua came to power in 2007 he spent $16.5 in 3 years out of the Excess Crude Account!

“By the time Jonathan took over power in 2010 only $6.5 billion was left in that account.



“Rotimi Amaechi should ask Yar’Adua’s men what that money was used for and not Jonathan.”

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  1. Ffk it is like u just failed mathematics.. U said OBj saves $67b and Yardua used $16.7 in 3 years...meaning that $50b was left for Jonathan.. Yet u said he met $6.5b...OK, please where is the $6.5b, because Jonathan was supposed to grow it to at least $150b, due to massive oil price hovering above $150...all of u squandered it...shame on u...never again ...God forbid PDP...

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    1. You did not get the maths. Foreign reserve + Excess crude account= 45b +22b=$67b.OK.The issue under contention here is ECA (excess crude account) NOT foreign reserve. According to Rotimi Amaechi, ECA was $67b. This is wrong. $67b was a sum of foreign reserve and ECA. Fani Kayode is saying that Obj left $22b in ECA and $45 b in foreign reserve. Yaradua spent $16.5b out of $22b of ECA, and that the balance of ECA inherited by GEJ is $6.5b. So this argument is limited to ECA since the accuser Rotimi Amaechi was specific by saying excess crude account. So looking at this primary 4 arithmetics, can you tell who is a failure in mathematics between you and Fani Kayode? This is primary school arithmetics and elementary English. Now to the politics, APC government should not assume that everyone in Nigeria has short memory. I know and it was a trending news how the Nigerian Governors Forum led by Rotimi Amaechi with very strong support by Adams Oshomole took the GEJ led federal government to court to demand that excess crude account be shared and they won the case.And the money was shared.How is it now that Amaechi is asking GEJ to account for $65b excess crude account? Excess crude account was $6.5b. So you can see lies and deception of APC. Lie is the twin of stealing. Both are kinds of corruption. PMB should not cover liers under him while he is fighting thieves that were under GEJ. Neither lying nor stealing is good. David

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  2. APC man will say never again PDP. Fake APC government, promise and fail government, anti people's government. Corrupt government, inflicted of pains and suffering on Nigerians. What a shame.

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