Vice President Yemi Osinbajo on Tuesday revealed how some companies stole $3billion under the ex-President Goodluck Jonathan government.
He spoke at the ongoing fourth edition of the Ogun Investors’ Forum in Abeokuta.
His speech reads in parts: “At the Quarterly Presidential Business Forum, I said that the main reason for Nigeria’s recursive growth is not just a matter of our relying heavily on a single commodity, it is the fact that the proceeds of that single commodity were regularly hijacked consistently by a few.
“So, for example in a so called strategic alliance contracts with the Nigerian Petroleum Development Company (NPDC), the promoters of the companies made away with over 3 billion US dollars, almost a tenth of our reserves at a point!
“In one single transaction, the sum of N100 billion and 289 million dollars in cash were released a few weeks to the 2015 elections, it was not released as such, it was the money embezzled. So, the total spends on capital in these critical areas I have mentioned was only N153 billion, and over N150 billion was released and shared within three days. This is enormity of what we are talking about; there is no country in the world that can survive on grand corruption on the scale that we are talking about."
From Daily Post
His speech reads in parts: “At the Quarterly Presidential Business Forum, I said that the main reason for Nigeria’s recursive growth is not just a matter of our relying heavily on a single commodity, it is the fact that the proceeds of that single commodity were regularly hijacked consistently by a few.
“So, for example in a so called strategic alliance contracts with the Nigerian Petroleum Development Company (NPDC), the promoters of the companies made away with over 3 billion US dollars, almost a tenth of our reserves at a point!
“In one single transaction, the sum of N100 billion and 289 million dollars in cash were released a few weeks to the 2015 elections, it was not released as such, it was the money embezzled. So, the total spends on capital in these critical areas I have mentioned was only N153 billion, and over N150 billion was released and shared within three days. This is enormity of what we are talking about; there is no country in the world that can survive on grand corruption on the scale that we are talking about."
From Daily Post
*Oga pastor we have been hearing how much Jonathan'S govt embezzled since 2015 without any solution....I dont know about anyone else but I am tired.Use the recovered funds to make Nigeria better...Stop revealing please...REVIVE!
Abeg! Abeg! Abeg!
ReplyDeleteSee the yeye Stella is saying o! The guy is speaking as vp you are calling him pastor in a derogatory tone. You know how many years this problem festered now you want a magical solution. Take a seat and be patient.
DeleteAnd how much APCC don chop/swallow since them grab power?
DeleteNa dat be the excuse for all them no fit do?
Anon 11:08 na only you still dey believe this Administration bah? You might get share there sha, make I no argue with you.
Deleteanon 11:08 u dey mind d semi illiterate.Person wey no get d intelligence to grasp what do VP is saying.All d stolen crumbs abati dey give am during jona's time to post lies don dry up so frustration dey kill am
DeleteHe is not the president, so why say make our lives better. Tell that to Buhari. A VP can't really do much based on his office. Based on his short record in office, am hoping his vying for the first office. His a brilliant lawyer and Pastor.
DeleteHe is a disgrace to RCCG
DeleteStop putting this short man in our faces. Tired of hearing about BLAME and EXCUSES. Pastor for that matter, that cannot tell God to help this country.
ReplyDeleteOkpari Stella, i did not see your comment before writing mine.
ReplyDeletePastor that complains too much and blames too much is that one a PASTOR?
What about the ones being embezzled in this administration?
ReplyDeleteYour comment will be visible after approval
NA miracle. DO u think its easy to recover? u always speak like u don't understand Economics. For Nigeria to be great, it needs atleast 10 years of consistent conservative spending and proper planning (which APC isnt doing)
ReplyDeletehow u fit expect d idiot that graduated with a "thanks for coming" degree in mass comm. to understand anything that requires her to think.D fool never recover from her god Jonah defeat
DeleteHAHAHAHA Olivia, i will tell bishop for you
ReplyDeletethank you stella. enough already, soon we will hear how much people embezzled in buhari government. Its just a matter of time fowl yansh go open.
ReplyDeleteAll the money you people have recovered so far , what her u doing with it?
ReplyDelete2019 is around the corner , cold go catch una
This man should go and rest. Something is wrong with him. He has stopped thinking rightly
ReplyDeleteMe too ayam tired of this administration singing the same song, haba!
ReplyDeleteGod have mercy, money was stolen, money was stolen, what are the security agencies doing about it?
ReplyDelete#PrayForNigeria
He should keep quiet jor.. I am tired of old stories
ReplyDeleteABEGIIIII.Make person hear word. 2019 is almost here and you ve started with the blame game.SHINY BOSS
ReplyDeleteI am beginning to dislike this man. Is GEJ your excuse for not performing also? What happened to the ones this Administration has recovered? Only in your regime we hear about snake swallowing millions. Who is fooling who? You people failed completely. GEJ Administration is quite better than APC confused Administration.
ReplyDeleteYou need some lecture in economics, then you can understand why things are presently this way.
DeleteAnon 14:03.. i see u clamouring people don't understand economics and yet all ur brain cud think of is conservative spending.. can u elucidate and make proper assertions on this theory of yours as it seems basic analogy has eluded you thus the need for your vituperation in defending this reckless government.
DeleteWhat we demand is simply a stop of using incompetency as a yardstick for performance where this govt compares it incompetencies against the last administration... Cheers
#JustPasserBy
We want to know about the recovered funds so far
ReplyDelete