#Vindicated: ‘Buhari’s N702.7 Billion Bailout Fund Is Taken From Jonathan’s Gov’t Savings’

#Vindicated: ‘Buhari’s N702.7 Billion Bailout Fund Is Taken From Jonathan’s Gov’t Savings’

President Muhammadu Buhari

The Peoples Democratic Party (PDP)on Tuesday, July 7, 2015 said a large chunk of the N702.7 billion set aside by President Muhammadu Buhari was gotten from the savings accumulated from the Excess Crude Account passed down from the Peoples Democratic Party (PDP) government pf former President Goodluck Jonathan.

Speaking via a statement issued by its National Publicity Secretary, Olisa Metuh, the PDP also said the bailout sanctioned by President Buhari proved that he was not being truthful when he said he met an empty treasury.

He said the PDP “notes that a significant amount of the bailout came from savings accumulated in the Excess Crude Account handed over to the Buhari-led All Progressives Congress (APC)’s administration by the past PDP-led administration.

“This development is in clear contradiction to the earlier impression given by President Buhari to Nigerians and the international community that they should not expect much from his administration in its first one hundred days because according him, upon assumption of office, he met a virtually empty treasury.

“We want to believe that given the President’s release of such huge amount, he may have realized that he was earlier misdirected on the actual financial state of the nation at the time he took over. In this regard, we expect the President, as a respected statesman to do the needful to correct that erroneous impression.

“Furthermore, we expect President Buhari’s APC administration as direct beneficiary of this savings initiated by past PDP administrations to appreciate the strategic importance of always saving for rainy days and as such guarantee prudent and transparent management of the nation’s resources now under its care.”

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