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.
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.”
