Governors asked Jonathan to share Nigeria’s foreign reserves — Akpabio

Godswill Akpabio

The Governor of Akwa Ibom State, Godswill Akpabio, Thursday attempted to weigh in on the circumstances surrounding Nigeria’s depleted $55 billion foreign reserves.

Mr. Akpabio, who spoke at the official flag off of the Peoples’ Democratic Party, PDP, presidential campaign in Lagos, said state governors prevailed on President Goodluck Jonathan to share the money.

“People are starting to talk about money. We governors here were the ones who told the president that our children are crying, the effect of the bad economy due to dwindling oil prices,” Mr. Akpabio told the crowd present at the rally.

“We cannot say we are saving money when people are hungry. You cannot save money when your child is in the hospital. If your child dies you are a fool.”

While hosting some Southwest women leaders last Monday, former President Olusegun Obasanjo had lambasted Mr. Jonathan for “squandering” the $55 billion excess crude oil savings and foreign reserves left by his administration.

But the Finance Ministry, Ngozi Okonjo-Iweala, had risen to the president’s defence, describing Mr. Obasanjo’s claims as “absolutely not true.”

“The facts are clear and indisputable. At the end of May 2007, Nigeria’s gross reserves stood at $43.13 billion, comprising the CBN’s external reserves of $31.5billion, $9.43billion in the Excess Crude Account, and $2.18 billion in Federal Government’s savings,” the finance ministry said in a statement.

“The excess crude savings which is a component of the reserves, was largely used to cushion the economy at the height of the global financial crisis in 2008-2009,” it added.

On Thursday, Mr. Akpabio said the money was shared among the three tiers of government “for use by all Nigerians”.
“No money is missing. Do not listen to propaganda. Let us face reality,” he added.


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  • Sadiq Garba

    Which one do we believe? Okonjo or Akpabio?

    • Mike udi

      The two re saying the same thing if u read with neutral mind

  • thusspokez

    “We governors here were the ones who told the president that our children are crying”

    Well lead the way by stop stealing from them and spending it on ‘Savoy Row’ suits properties abroad.

  • abbadd

    Corruption in its highest level looting financial mis-management kai under GEJ people are no longer ashamed and afraid of stealing the peoples money with so much comfort people are looting the measures while GEJ is going around lying to his supporters about fighting corruption.

  • Amir

    Which beer parlour is this governor coming out from? If what Akpabio said is true then we don’t have a ‘commander’ in chief rather a ‘commanded’ in chief to squander resources. By the way did GEJ government not take its usual 52%? If he was unwilling to share the money, why did he spend his share instead of saving it? Akpa’s, Akpa’s, abeg go back to your drink joint. It’s already late!

    • MrFesh+Ifebuche+Paschal

      Why is it hard for you guys to taste the truth? Will it kill you?

      • Amir

        If Akpabio or GEJ is the truth in Nigerian politics, then give me another bottle of alcohol, for we are drunk already and need psychiatric help.

        • MrFesh+Ifebuche+Paschal

          I’m sure you do. Check into national psychiatric hospital. It has been renovated I guess.

          • Amir

            There are no doctors and no drugs there. The outside walls of the hospital has been repainted for propaganda. No equipment, nothing and the federal workers have not been paid for 4 months. The hospital itself is in a psychiatric state due to misrule by the federal government. That’s why we need to change this mediocre government of sharing money. Come with Nigerians and leave your sinking ogogoro ship.

          • MrFesh+Ifebuche+Paschal

            So that means that you will continue to run mad abi?

          • Amir

            Yes. Just like you until sanity takes over leadership of Nigeria in February 2015. The negroes in America ran ‘mad’ and demonstrated against discrimination before winning their rights. Just yesterday the French police ran ‘mad’ yesterday until they dislodged and wiped out terrorists who want to change their ways of life. Those of you who sit in the comfort of government apartments making money through propaganda remind us daily of what is wrong with incompetent leadership. Think with your brain. Nothing changes unless its changed.

          • MrFesh+Ifebuche+Paschal

            Abeg I’m nothing like you. Go away with your madness.

    • Kay Soyemi (Esq.)

      Amir, Mr. Akpako is being economical with the truth, and deliberately so.

      It is true the Governors demanded the monies be shared, but it was only after they noticed that at each meetings they had, the money was dwindling without it being shared and without the Jonothing admin explaining the magic of disappearing money.

      Rumours have it sha, that each time they visited the vaults, they saw loads of empty cans of Red Bull. Seems the money was drinking a lot of Red Bull and growing wings!!!

  • tundemash

    So Dumbo does whatever you co-rogues tell him ???????????? The more reason he needs to be voted out .

  • Emmanuel Olusuyi

    Please tell us what the Governors did with the fund. How has it translated into the welfare of the people of Nigeria?

  • McAlfred Uta

    Akpabio has just said the truth that is well known to us and widely publicized by the newspapers. The FG, States and Local Governments shared the excess crude account during the FAAC sessions against the advice that it should be kept for the rainy day. With Russia’s uncompromising attitude on illegal annexation of Crimea and funding of the crisis in Eastern Ukraine we are in for a long oil price slump and the concomitant hardships.

  • Spoken word

    If people like Akpabio are governors in this country, then it is not a surprise that this country is in reverse gear.

  • Bigzy

    We are all witnesses to this fact. Chief amongst those who agitated for the Sharing of our foreign reserves were Amaechi and Kwankwaso. The trouble with our people is that we have got a very short memory

    • Amir

      You guys are simply daft. Why didn’t the federal government save its share? If the governors requested sharing the money, did they force the GEJ government to squander its share of 52%? Government of excuses, excuses and endless excuses. Who knows what the next set of governors will ask him to do if we make the mistake of allowing him rig PDP back to power.