Obasanjo, Yar’adua, Jonathan allegedly blew over N70trn in 15yrs – NEITI

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Waziri Adio Tuesday revealed how former Presidents Olusegun Obasanjo, late Umaru Yar’Adua and Goodluck Jonathan allegedly blew over N70trn in 15yrs.

Speaking yesterday when he told the Senate Committee on Federal Character and Inter-Governmental Affairs during an oversight visit to his office, Adio noted that the over N70 trillion represents earnings from sale of crude oil and gas between 1999 and 2014 during their administrations.

It will be recalled that Nigeria in the last eight years had lost over $200bn which it have earned from the exportation and sales of mineral deposits found in several states of the federation.

According to the NEITI boss, unless Nigeria develops a prudent way of spending, the country may be in for very rough times in the coming years.

Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.