Tuesday, 7 June 2016

Jonathan- How we were pressured to lavish $18billion excess crude revenue savings

Former President Goodluck Jonathan speaking at the Bloomberg Studio in London

Former President Goodluck Jonathan finally opened up on how over $20 billion excess crude oil revenue he met during his administration was reduced to about $2 billion as he was leaving office on 29th May,2015. According to Premium Times, the former president stated during an interview he had with Bloomberg TV, of how the state governors were constantly forcing the Federal government to draw from the reserve account to make up revenue allocations from the federation account. He narrated that whenever there was a drop on oil earnings, the governors would be reminding him that it was not stated anyway in the country's law that the federal government should keep the reserve, therefore, always insisted that some portion of the excess crude revenue be shared. He further said that while in the office, he tried creating a special fund called sovereign wealth fund, which would be difficult for anyone to take from. The former president said he never left empty treasury, saying the present administration would not have given bailout to the states the way it did if it met empty treasury. 

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