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Dr. Ngozi Okonjo-Iweala in her latest book, “Fighting Corruption Is Dangerous: The Story Behind the Headlines,” has indicted the APC National Chairman Adams Oshiomhole and several others.
Others indicted include former Rivers State Governor Rotimi Amaechi, and Governor Rauf Aregbesola of Osun State, as the most strongest voices that discouraged the regime of former President Goodluck Jonathan from saving.
Okonjo-Iweala, who the finance minister and the coordinating minister of the former PDP-led government said most of the state governors at the time were responsible for the inability of Jonathan’s regime to save for the rainy day.
She specifically accused former governor of Rivers, who was then the Chairman of Governor’s Forum and now Transportation minister Amaechi; former Edo State governor and now the National Chairman of the APC, Oshiomhole; Aregbesola of Osun as the arrowheads of the wasteful spending of the former regime.
The regime of Goodluck Jonathan was marred with high level of corruption, particularly for the failure of the former administration to save for the rainy day, despite oil boom when he was in office.
She said state governors in Nigeria were responsible, noting that they were always insisting that funds in the Excess Crude Account must be shared.
While she writes that most of the governors said “there was no need to save despite that crude oil was selling at $86 per barrel” however gave kudos to a former Anambra State governor Peter Obi of being among the few ones that supported the idea of saving from the Excess Crude Account.
The book, “Fighting Corruption Is Dangerous : The Story Behind the Headlines, ” published recently has generated global attention due to the level of corruption in Nigeria since 1960 by successive government.
President Muhammadu Buhari who succeeded Jonathan has repeatedly blamed his predecessor of draining the Federation Account before leaving office, which according to him has been hampering projects he would have executed.
Okonjo – Iweala, recalled that the regime of former President Olusegun Obasanjo, under which she also served, created the ECA to solve the problem of Nigeria’ s volatile revenue.
“ The idea was that during good times , when the price of oil was high in the international markets , Nigeria could budget domestically at a lower price , save the difference and then have these resources available during bad times when international oil prices were low . In this way , the budget could help smooth out government expenditures and consumption ,” she said .
She pointed out that between 2004 and 2007, Obasanjo ’s administration was able to save $22bn.
Obasanjo had also publicly revealed that Jonathan’s regime drained the ECA in a letter written to the latter while he was in office between 2010-2015.
At the time of filing this report, APC chairman Oshimhole, or any other former governor or serving was yet to react.