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Thursday, July 25, 2024

Nigeria’s Oil Economy Has Been Mismanaged For Decades — Ezekwesili



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Obiageli Ezekwesili has said that the oil economy has been mismanaged by the government of Nigeria over a decade now.

Ezekwesili however accused the federal government of squandering over the $67 billion foreign reserve  which she claimed was left in the foreign reserve account while she was a serving minister.

She volunteered to prove the mismanagement of the funds but was turned down when she requested for a democratic accountability forum.

She further said that her believe in good governance, transparency and accountability still stands and her accountability credentials has not been questioned internationally.

According to Ezekwesili Nigeria never put to good use its oil resources during the five major oil booms that the country had as this can be seen by the level of development in the country compared to the progress that other oil producing countries have made over time, citing Singapore as an example. She said Nigeria’s income per capital is $1500, while that of Singapore stands at $50, 0000 presently.

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Meanwhile, in a swift reaction, Senior Special Adviser to President Jonathan; Doyin Okupe has reacted to the comments made by Ezekwesili on Sunrise Daily saying the problem the FG has with Ezekwesili is that she misled Nigerians on the issue of foreign reserve, that the Obasanjo regime did not leave $67m in Oil Reserve.

Okupe said it is wrong for Ezekwesili to say oil reserve money was squandered by the present administration and with her recent statement in which cleared her points, the administration has been vindicated.

Source: Channels


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