‘Bailout funds not Jonathan's savings,’ Presidency blasts PDP

The Presidency has criticized the Peoples Democratic Party (PDP) over its demand that former President Goodluck Jonathan should be given credit for funds recently approved to be shared between Nigeria’s states and the Federal Government.

This was contained in a statement released by Buhari’s Special Adviser on Media and Publicity, Femi Adesina. It reads:

“Mr. Metuh’s claim that a significant amount of the funds came from savings accumulated in the Excess Crude Account and handed over to the Buhari administration is completely false and deliberately intended to mislead the public.”

“As we clearly stated yesterday (on Tuesday), the funds approved by President Buhari for sharing to the three tiers of government on Monday came entirely from dividends and taxes paid to the Federation Account by the Nigerian Liquefied Natural Gas Company, not from the Excess Crude Account.”

“The disbursed NLNG dividends and taxes were paid into the Federation Account in June this year and confirmed by the Central Bank’s statement to the Federal Government on July 7, 2015.”

“The funds cannot, therefore, be considered ‘savings’ by the Jonathan administration which left office in May, 2015, as disingenuously claimed by Mr. Metuh.”

“Instead of being repeatedly impugned and castigated by the PDP and its agents for honestly telling Nigerians that the nation’s treasury has been immensely depleted and its resources looted or squandered under previous administrations, President Buhari should be commended for the openness, transparency and accountability which he has now brought to the management of national funds.”

“It was in keeping with that disposition that the President promptly disclosed the accrual of the NLNG dividends and taxes to the Federation Account at his recent meeting with state governors and approved the convening of a special session of the FAAC to share it.”

“Mr. Metuh and others, who now ungratefully see Monday’s disbursement of the NLNG proceeds as their “legitimate” earnings and not a “bailout” from the Federal Government, may wish to tell Nigerians if such earnings were ever disclosed by the PDP Federal Government and paid to the states in the past.”

“The public may also wish to note that the Buhari administration itself has never referred to the actions which it was taken to ease the current financial difficulties of states as a “bailout.”

The funds were approved for sharing by Buhari on Monday, July 6.