Former President Goodluck Jonathan, yesterday, defended his government’s record on fighting corruption and denied his successor’s assertion that the country’s Treasury was left empty when he handed over power last year. Jonathan, 58, was succeeded in May 2015 by President Muhammadu Buhari, who accused the previous administration of looting billions of dollars and leaving the country’s finances “virtually empty.”
“That is not true, there no way he would have inherited empty treasury and at the same time, give a bail-out to the states. It is not possible. Nigeria is a fairly robust economy, But sometimes, we over politicize certain issues and make it look so bad, but it was not that bad. No! Not at all.”
Nigeria’s economy is contracting after a decline in the price of Brent by about half since the middle of 2014. Crude exports accounted in 2014 for as much as two-thirds of government revenue, with most state budgets relying on monthly handouts from the federal administration.