Former President Goodluck Jonathan has spoken out about how the excess crude oil revenue account, which stood at over $20 billion at the inception of his administration, was depleted to about $2 billion when he left office on May 29, 2015.

Answering questions on an interview programme with Bloomberg TV, Mr. Jonathan blamed the state governors for regularly pressurizing the federal government to draw from the reserve fund to augment revenue allocations from the federation account.

“At any time the earnings (from oil) drop, the governors would insist that there is no place in our laws that actually say that the federal government should keep the reserve,” Mr. Jonathan said. “They always insisted that a part of it (excess crude revenue account) should be brought.”

He said there had always been misconception about the excess crude account, pointing out that while a number of people felt it was a reserve fund for the rainy day, others said it was fund that could be drawn from in times of economic difficulty.

“Yes, it is also part of our own reserves. But, when I was there, I tried to make a special fund called a sovereign wealth fund, so that it would not be easy for one to take from there,” the former president said.

Asked to react to claims by the current administration that it inherited empty treasury at inception of its tenure, Mr. Jonathan said that could not be true, arguing that there was no way the administration would have inherited empty treasury and still be able to give bailout to states the way it did.

On the diversification of the economy away from oil, the former president said his administration did “very well”, particularly in encouraging manufacturing and industrialization as well as agricultural development, which he said got to its peak within the five years he was in power.

He spoke of the agriculture transformation agenda of his administration, which he described as not only the best since the history of the country, but also one that received global acclaim.

According to him, it was the administration’s achievements in the agricultural sector that recommended the then minister of agriculture, Akinwumi Adesina, to be elected president of the African Development Bank.

He however expressed regrets that his administration did not succeed much in the solid mineral sector, despite its efforts to attract investors.

“The blue print and everything was worked out. So, if somebody says I did not diversify the economy, I will say that is not true,” he said. “Of course, I was president of Nigeria. Sometimes, when people ask me question, it would seem I was the president of Nigeria from Independence till 2015. I was president for five years.”

On the perception among Nigerians that corruption was rampant during his administration. Mr. Jonathan said there was nothing new about such perception, pointing out that that had always been the case since the country’s independence.

“Perception is based on what people say,” the former president said. “In Nigeria, somehow it has been a routine. From the collapse of the First Republic, what the military said was the reason for taking over was corruption.

“When the Second Republic collapsed, the same was the story. If there is a major change in government where one political party is taking over power from another one, there must be issues that would be raised.

“Yes. I cannot say the country, from beginning of independence, there was no corruption. Yes, there was corruption. I did well to cut down on corruption. My approach was not to make money available to anybody to touch,” he said.

The former president said although his administration succeeded in eliminating corruption in fertilizer subsidies, his attempt to extend same to the oil industry was frustrated.

“The very people that have been accusing us of corruption are the very people that frustrated it. It’s unfortunate,” he lamented.

On whether he would come under investigation by the present administration for corruption, Mr. Jonathan said he was already under probe but that he was reserving his comments on the matter, arguing that it was improper to make comments while investigation was still on.

“Of course, obviously I will be investigated. I am being investigated. Yes, investigations are going on. But, I wouldn’t want to make certain comments, because when a government is working, it is not proper for immediate past president to make certain statements.
“I will allow the government to do the work it is supposed to do. So, I would not want to make serious comments on that. Definitely it’s not proper. After all these investigations and so on, the whole story will be properly chronicled. It is not a good practice. I have just left office. I should allow the person that is on the seat to do what he feels is good for the country,” he said.

source: www.premiumtimesng.com/news/headlines/204809-pressured-squander-18bn-excess-crude-saving-jonathan.html

These are known fact naw... the governors especially Aregbe of Osun. But oga Jona you scored below average on anti-graft fight...

lastly ; The APC lead administration should focus its energy on rebuilding the said reserve and stop reiterating its empty status... that's the way forward !!!

So your son is the one telling you how to run your house. There are leaders and there are rulers Jonathan was just a figure head with no head. Common sense says you run your government the way you think is right to do so not the way somebody else wants, because at the end you get the blame.

Go and learn the true meaning of leadership

Abegi. He don do. No strong WILL to do anything. Gej is a personality that likes aportioning blames to other people even as a commander-in-chief. What a sorry case? Blaming govs for his ineptitude. U will also blame govs for the looting spree using dasuki as ATM. U will also blame govs for the Niger delta neglect, the 43000 ghost workers, the shaddy deals of ex petroleum minister Dezieni in oil the sector, etc ? How can u deplete from $20Bn to $2Bn as a business man and u are telling us u are successful even when oil was sold for $100/per barrel. It is gross failure. What Gej should know is that the more mentions he makes about this, the more questioning and public probing would take place. If he wants to still clear his name, let him challenge the govnt of the day in open debate of which i know he dares not.

Why is governance very difficult for apc. Let them build their own fund and do needful but not by appointing Fashola as minister of power

So what did they do with money shared? Particularly, what the FG at that do with her own share?

Please, tell us?

globexpo:
Why is governance very difficult for apc. Let them build their own fund and do needful but not by appointing Fashola as minister of power

Yaradua left over $45 billion in reserve. How much did he left. He failed to tell us how much he left. That should have been the yardstick to decide if he left empty treasury or not.

What prevented FG from saving its own share?

As at early 2015, Jonathan-led FG was borrowing to pay salaries and recurrent expenditure.

Obasanjo and Yar'Adua prevailed on the governors to save. Only Jona could not. Does this tell us something?

amaechi1:


Yaradua left over $45 billion in reserve. How much did he left. He failed to tell us how much he left. That should have been the yardstick to decide if he left empty treasury or not.

Gej depleted our foriegn reserve to about $28 billion thanks to dasuki and diezani

Oga Jonathan u have done ur best sir nw apc n bubuhari is there d world is witnessing d worst ever govt 2ever rule Nigeria again ametif bubuharis ATM n co we knw hw u sue fed govt over excess crude a/c yeye govt

Ok

GEJ their hero.

Fayose their role model.

amaechi1:


Yaradua left over $45 billion in reserve. How much did he left. He failed to tell us how much he left. That should have been the yardstick to decide if he left empty treasury or not.

How can the treasury be empty and Naira was relatively stable during election?
Also with bailout fund

This statement by GEJ is implicative, you met $20 billion and left $2 billion, what happens to the excess that accrued during his tenure when oil sold at an average of $100, does that mean there was no Savings? What about the foreign reserves that dwindled? No gain? He should just holed up, the bleeped up, he is a prodigal son..

Realy happy dis is coming from d horse's mouth. Pls how else do we interpete an empty treasury-20billion dollors spent to 2billion dollars. I guess wailers wuld be so heartbroken with dis Rubbish dere hero is saying.

What is the excuse here, Federal Government receive 54% of that amount i.e $9.72 billion

slimfit1:


So your son is the one telling you how to run your house. There are leaders and there are rulers Jonathan was just a figure head with no head. Common sense says you run your government the way you think is right to do so not the way somebody else wants, because at the end you get the blame.

Go and learn the true meaning of leadership

point of action. It's not in any way comparable to family or father/son thing. Stop speaking like an illiterate jst bc u want to malign somebody. Nigeria is governed by a constitution which does not recognise govs as mere sons of d president. Don't forget d fg and SGs and LGs share d total income oncertain % recognised in d constitution. It's clear d vast majority of us do not knw how democracy is different frm military or jst civil rule.

Ebele..."Yes I was the presido but I had to take orders from the governors even though they were my subordinates"




Dis ebele na mumu sha!

Pfft

[s]

slimfit1:


So your son is the one telling you how to run your house. There are leaders and there are rulers Jonathan was just a figure head with no head. Common sense says you run your government the way you think is right to do so not the way somebody else wants, because at the end you get the blame.

Go and learn the true meaning of leadership

[/s]

What do u know, internet chest beating warrior! A leader is someone who listens to his followers, does Buhari listens to his followers?

The responses of Dr Jonathan are so unfair to Nigerians who are daily embarrassed by the level of atrocious pilfering under his watch. It's so unfair. How people with these level of leadership failure like Dr Goodluck sleep at night still baffles me. This man owes Nigerians apology for God sake. From Immigration to National security adviser offer, it was stealing and corruption galore

[s][/s]

IVORY2009:
[/s]

[s]What do u know, internet chest beating warrior! A leader is someone who listens to his followers, does Buhari listens to his followers?

Ok

Amanwulu1:
point of action. It's not in any way comparable to family or father/son thing. Stop speaking like an illiterate jst bc u want to malign somebody. Nigeria is governed by a constitution which does not recognise govs as mere sons of d president. Don't forget d fg and SGs and LGs share d total income oncertain % recognised in d constitution. It's clear d vast majority of us do not knw how democracy is different frm military or jst civil rule.

I don't reply clueless people this days no time I'm moving on.

Jonathan did not learn from his predicessors he did not save his own(fedreal govt) share of the money he was the first to put his hands into the treasury he did not follow the budjet he could not explain what he did with the money he could not explain what he did with the increased revenue he increased nigerias curruption level
he decreased the treasury and at the same time increased debt, what a man!

antispexish:
Jonathan did not learn from his predicessors
he did not save his own(fedreal govt) share of the money
he was the first to put his hands into the treasury
he did not follow the budjet
he could not explain what he did with the money
he could not explain what he did with the increased revenue
he increased nigerias curruption level

he decreased the treasury and at the same time increased debt, what a man!

Good governance is not all about savings. Sometimes savings iis even toxic! To u buhari is fighting corruption abi? Well discerning is a rare trait these days. Buhari is only fighting his foes. No one fights corruption as his war rather it is a systemic national war. The icpc, efcc,TSA,BVN, e-wallet, FOI and many more are ways of fighting corruption institutionally not the, arrest n investigate then make some noise hoping to get some confession by Coercion! GEJ came before his time a democrat per excellence!!!!

tuniski:

Good governance is not all about savings. Sometimes savings iis even toxic! To u buhari is fighting corruption abi? Well discerning is a rare trait these days. Buhari is only fighting his foes. No one fights corruption as his war rather it is a systemic national war. The icpc, efcc,TSA,BVN, e-wallet, FOI and many more are ways of fighting corruption institutionally not the, arrest n investigate then make some noise hoping to get some confession by Coercion! GEJ came before his time a democrat per excellence!!!!

yes, good governance is not all about savings, but saving Is part of good governance.

Depleting your savings at the same time increasing your debt is definitely not part of good governance.

ok, buhari is only fighting his foes, the foes that stole nigeria money, that are already vomiting it, that are currupt!, may he continue to fight those foes till the end!

a beg, of all this means of fighting curruption, which one of them did jona use and which did buhari not use ?

Abegii, things have gone beyond confession by Coercion!, can you be forced to return billions that you did not steal? where did you get the money in the first place.
hope you noted that most accused are not denying that they got the money, they are saying they got it through Jona's directives!

antispexish:


yes, good governance is not all about savings, but saving Is part of good governance.

Depleting your savings at the same time increasing your debt is definitely not part of good governance.

ok, buhari is only fighting his foes, the foes that stole nigeria money, that are already vomiting it, that are currupt!, may he continue to fight those foes till the end!

a beg, of all this means of fighting curruption, which one of them did jona use and which did buhari not use ?

Abegii, things have gone beyond confession by Coercion!, can you be forced to return billions that you did not steal? where did you get the money in the first place.
hope you noted that most accused are not denying that they got the money, they are saying they got it through Jona's directives!

Let them put names to that yeye list and they will be so shamed after so much noise of fighting corruption. Over 80% of whatever recovered which for your information is _nder 100bn are from the efforts of previous govts. We are waiting for the names. Yeye govt deceiving only zombies!

tuniski:

Let them put names to that yeye list and they will be so shamed after so much noise of fighting corruption. Over 80% of whatever recovered which for your information is _nder 100bn are from the efforts of previous govts. We are waiting for the names. Yeye govt deceiving only zombies!

don't get too emotional about things you know little about!
you brought some few points, yet you could not defend them

antispexish:


don't get too emotional about things you know little about!
you brought some few points, yet you could not defend them

Defend what and what are u ignorant of? Abeg. U actually is d one being emotional!