Politics
Osinbajo knocks IBB, Obasanjo, Jonathan, others for wasting $982.8bn oil revenues
Vice – President Yemi Osinbajo said he wondered how past Nigerian leaders , including a military dictator , Ibrahim Babangida ; former President Olusegun Obasanjo and former President Goodluck Jonathan , spent the oil revenues that accrued to the country during their administrations .
According to a statement on Monday by his Senior Special Assistant on Media and Publicity , Mr Laolu Akande , the Vice -President said this while answering questions from Nigerians at a town hall meeting in Minnesota, the United States of America , on Sunday .
Osinbajo said Nigeria ’ s problems were not about geographical restructuring but about proper management of the country ’ s resources .
While relying on the Organisation of Petroleum Exporting Countries ’ statistics on oil revenues accruable to Nigeria under successive administrations between 1990 and 2014 , the Vice – President said not much had been done in terms of infrastructure development despite the huge oil revenues realised by the country .
Osinbajo said , “ Under the IBB / Abacha administrations ( 1990 – 1998 ) , Nigeria realised $ 199 . 8 bn .
“ Under the Obasanjo / Yar’ Adua governments ( 1999 -2009 ) , the country got $ 401 . 1 bn .
“ During the Jonathan administration ( 2010 – 2014 ) , Nigeria got $ 381 . 9 bn from oil revenues .
“ The question that we must all ask is that what exactly happened to resources ? The question that I asked is that where is the infrastructure ?
“ When added together, the oil revenues that accrued to the country under IBB , Obasanjo , Yar ’ Adua and Jonathan amounted to $ 982 . 8 bn
“ One of the critical things that we must bear in mind and see is that this government, despite earning $ 94 bn , up until 2017 , we are spending more on infrastructure and capital than any previous government. So, we are spending N 1 . 5 trn on capital. That is the highest we have spent since 1990 . ”
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