The National Chairman of the All Progressives Congress (APC), John Odigie-Oyegun has said that the incoming administration of President-elect, Muhammadu Buhari would need to generate 4.1 trillion Naira to pay accumulated arrears, oil subsidy debts, salaries and other expenses.

Read an excerpt from his speech below:

“While I congratulate all of you on your elections, I must caution that your task is not easy.  This is because you are being called to service at one of the most challenging periods in the history of our nation.”

“You must dig deep into your inner reserves of wisdom, unshakeable faith in country and a fearless commitment to service of fatherland in order to surmount the daunting legislative challenge that will swiftly face you in the days and weeks to come.”

“I have no doubt in my mind that the coming days will be rough and tough choices will have to be made. This is not intended to scare but rather to frame the magnitude of the challenge that confronts us.  This is because to reposition our country for growth and development hard choices concerning the way we managed our business in the past and our attitude to public assets have to be undertaken.”

“Upon assumption of office, our government will be expected to raise about 4.1 trillion Naira to pay accumulated arrears of salaries at Federal and State levels, oil subsidy debts, costs of debt servicing and other sundry indebtedness incurred by the outgoing administration.”

“Yet our people expect massive investment in infrastructure, public works to create jobs and cash transfer reliefs to ameliorate the harsh economic environment.”

“For many of our fellow citizens, by May 30th, a day after the swearing of our President-elect, all fuel queues will vanish, corruption will disappear and all arrears of salaries paid and all our roads paved, while electricity will become stable.”

Buhari will be sworn in on Friday, May 29, 2015.