Previous Administration Embezzled N150 Billion Two Weeks To 2015 Elections, Says Osinbajo
Vice President Yemi Osinbajo (SAN), has revealed how the immediate past administration shared the total sum of N150 billion in two weeks to the 2015 general elections.
Osinbajo made this known at the The 7th Presidential Quarterly Business Forum which held at the State House Banquet Hall, in Abuja, on Monday.
The Vice President noted that N14 billion was spent on agriculture in 2014 and another N15 billion was spent on transportation.
“The total spend on capital in those critical areas was N153billion and in two weeks to the 2015 election, N150billion was shared and essentially shared,” Osinbajo stated.
“So if your total capital spend is N150billion and you can share N153billion, let’s face it, that is completely incredible! It is the sort of thing that doesn’t happen anywhere else in the world. When we talk about the economy, we absolutely must understand that is the problem,” the Vice President added.
On what has changed, Osinbajo stated that the President Muhammadu Buhari’s administration has increased capital funding by 400% in Power, Works and Housing, Defence, Transportation and Agriculture.
He also stressed that systemic corruption, as seen in public finance can’t be dealt with it all in one fell swoop, but the present government is steadfast and strategic to win the battle.
He said: “There is no way you have a system that has consistently thrived on corruption and proceeds of corruption and public finance in particular that will just roll over, no! It is a system that had actively dealt on corruption and the system affects all aspects of governance. So clearly trying to deal with it is not a walk in the park.
“If we stick to a policy that ensures that as far as public finance is concerned, there is no impunity, and we hold people to account, I am absolutely confident this country has everything it takes to make the sort of progress that we deserve to make as a nation.”