By Nairaland Forum In the face of the recession Nigeria is currently coming out from, there have been several attacks on the current administration.
Here are 5 indisputable facts before the current government came into power. Recall that as at Dec 2014, oil price was still above $64/barrel.
1. 27 state governors were owing back log of salaries as at May 2015 when this government took over hence the bail out funds approved for governors. Despite this bail out funds, many refused to meet their obligations.
Buhari in ‘bailout’ meeting with governors– June 23; 2015
With a view to breaking the ice over the “salary crisis” in most of the states, President Muhammadu Buhari will on Tuesday meet with the 36 state governors, Femi Adesina, presidential spokesman, has confirmed through his Twitter handle.
3. Oil marketers were owed billions, led to a fuel scarcity that paralyzed Nigeria, even banks were closing before time, telecoms operators were sending texts about expected disruptions (never in Nigeria have this happened until 2015)
Nigeria fuel shortage cripples businesses, banks and flights – 25 May 2015
Nigeria is being crippled by the fuel shortage that the country has been experiencing for more than a month.
Nigerian banks have shortened opening times, flights have been cancelled and phone companies may restrict services.
The party of President-elect Muhammadu Buhari has accused the outgoing government of “sabotage” for failing to deal with the crisis.
The wholesale fuel sellers have been withholding petrol as they say they are owed $1bn (£625m) by the government.
4. Okonjo-Iweala who many people in the opposition believe would have done better or saved the economy warned of tougher times as oil slipped low to about $76.
Brace for tougher times ahead, Okonjo-Iweala tells Nigerians -NOV 2014
Nigerians should brace for tougher economic times ahead, the Minister of Finance, Ngozi Okonjo-Iweala, has said as crude oil prices slipped to a four year low on Wednesday.
The Federal Government had attributed the declining revenues to the fall in prices at the international oil market.
After drawing from the ECA, Minister of State for Finance,
Bashir Yuguda, said the balance in the account had dropped further from $4.1 billion to about $1.34 billion at the moment.
But Mrs. Okonjo-Iweala said in Lagos on Tuesday that the economic indicators show there are tougher times ahead.
According to her, Nigeria would begin to feel the impact of the dropping oil prices at the international oil market, which commenced since the Read More
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