JONATHANS PROFLIGACY The number of importers of fuel(PMS) was 19 in 2008. It rose sharply to 140 in 2011. Subsequent upon this, subsidy payment rose from N245billion to N2.5trillion within the same period. Nigeria,s oil production put at 2.2million barrels per day fall by 180,000 barrels per dayn and price of oil slumped from a peak of 114 dollars in June 2014 to about 60 dollars the following month. By October 2014, the targeted budget revenue had fallen by about a trillion naira. It thus affected capital project execution by N100 billion the shortfall in oil production was blamed on pipeline vandalism. It is common knowledege that Jonathan contrated the safeguard of our pipeline to ex-militants of the Niger Delta at huge cost of several billions of naira. The economic disaster is further compounded by misplaced policies and over-dependence on World Bank orthodox measures employed by Dr Ngozi Okonjo-Iweala, the Minister for Finance. Consequent upon this, many states are unable to pay salaries as and when due, and Federal Government, itself, could not honour the payment of salaries to many of its staff.
Posted on: Sun, 04 Jan 2015 14:51:57 +0000
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