Vunderkind
Social Member
Ex-president of Nigeria, Olusegun Obasanjo has stated that he has no beef with President Goodluck Jonathan as has been purported by certain parties.
He said that all he was doing was to ensure the good governance of Nigeria, and he then called on Nigerians to vote against bad candidates in the February election.
Obasanjo has nevertheless attacked Goodluck Jonathan for wasting billion of dollars that would have been used to reduce the effect of the oil crash.
He said: “When we left in May 2007, the reserve was said to have been raised to $35 billion dollars. But today, that reserve has been depleted! The reserve we left when we finished paying all our debts, our debts that was about 40billion dollars, that is including debt forgiveness, the remaining debt was not more than 3billion dollars. Our reserve after we had paid off this debt was about 45billion dollars. As I said, they continued till the end of 2007, I heard that the reserve increased to almost 67billion dollars before the end of the year."
“What is left of our reserve now, I learnt is around 30 billion dollars. That is why the Naira has been falling against the dollar. What would now happen, I learnt if you want to buy a dollar now, it’s about N192 or N195. What it means is this, what you have been buying at N150 to a dollar, now you need N192 or N195 to buy it.
“That is the real situation. Is there any remedy? There is but it does not come overnight because it means we have to give up all the bad things we have been doing. Truly, the price of crude has fallen, but anyone who is wise enough should know that since we depend on just one resource and since we have no control over its pricing, we should be planning for this type of situation and the way out of it. Our inability to have reserve has brought us into this economic quagmire."
Obasanjo reiterated that he had enough experience in ruling Nigeria, and that was why he was regularly speaking on the country's problems, and that any leader who ignored his words would eventually face shame.
Source: TheNewsNigeria
He said that all he was doing was to ensure the good governance of Nigeria, and he then called on Nigerians to vote against bad candidates in the February election.
Obasanjo has nevertheless attacked Goodluck Jonathan for wasting billion of dollars that would have been used to reduce the effect of the oil crash.
He said: “When we left in May 2007, the reserve was said to have been raised to $35 billion dollars. But today, that reserve has been depleted! The reserve we left when we finished paying all our debts, our debts that was about 40billion dollars, that is including debt forgiveness, the remaining debt was not more than 3billion dollars. Our reserve after we had paid off this debt was about 45billion dollars. As I said, they continued till the end of 2007, I heard that the reserve increased to almost 67billion dollars before the end of the year."
“What is left of our reserve now, I learnt is around 30 billion dollars. That is why the Naira has been falling against the dollar. What would now happen, I learnt if you want to buy a dollar now, it’s about N192 or N195. What it means is this, what you have been buying at N150 to a dollar, now you need N192 or N195 to buy it.
“That is the real situation. Is there any remedy? There is but it does not come overnight because it means we have to give up all the bad things we have been doing. Truly, the price of crude has fallen, but anyone who is wise enough should know that since we depend on just one resource and since we have no control over its pricing, we should be planning for this type of situation and the way out of it. Our inability to have reserve has brought us into this economic quagmire."
Obasanjo reiterated that he had enough experience in ruling Nigeria, and that was why he was regularly speaking on the country's problems, and that any leader who ignored his words would eventually face shame.
Source: TheNewsNigeria