Obasanjo blasts Jonathan again!, accuses govt of depleting oil reserves

 Former President Olusegun Obasanjo has taken another swipe at the Jonathan-led administration, this time criticizing the his government for depleting Nigeria's oil reserves. Chief Obasanjo made this allegation today in his state of the nation address where he also received women leaders from the South-West region at his residence in Abeokuta, Ogun State.

The former President's comments went thus:

"Our economy should not have been this bad. When I was leaving office about eight years ago, I left a very huge reserve after we had paid all our debts. Almost $25billion we kept in what they called excess crude. The excess from the budget we were saving as reserve for the rainy days. When we left in May 2007, the reserve was said to have been raised to $35billion. But today, that reserve has been depleted!

Today, that reserve has been depleted. The reserve we left when we finished paying all our debts, our debts that was about 40billion dollars, that is including debt forgiveness, the remaining debt was not more than $3billion. Our reserve after we had paid off this debt was about $45billion. As I said, they continued till the end of 2007, I heard that the reserve increased to almost $67billion before the end of the year. Our reserve now, learnt is left with around only $30billion. That is why the Naira has been falling against the dollar. What would now happen, I learnt if you want to buy a dollar now, it’s about N192 or N195. What it means is this, what you have been buying at N150 to a dollar, now you need N192 or N195 to buy it. That is the real situation. Is there any remedy? There is, but it does not come overnight because it means we have to give up all the bad things we have been doing. 

I know that God did not create Nigeria not to be rich or great. Is it that the people he created in Nigeria are not knowledgeable enough or not intelligent enough? Or is that they don’t know their rights? Our problems in Nigeria, let’s look at the foundation of our leadership. In the profession I know very well, the military, what we normally say is that there are no bad soldiers but bad officers. If you see a situation where the soldiers are not doing well, we need to examine the officers in charge. So it is in the family, the community, the town and the country.”

Obasanjo further noted that his remarks were not as a result of a personal grudge with President Jonathan. He vowed not to relent in fighting for the good of Nigeria.

"I have no grudges against Jonathan and I think Jonathan equally has no grudges against me. I’m not quarrelling with Jonathan but all I know is that whatever is good for Nigeria, that I’m ready to die for. I emphasize that whatever is good for Nigeria, is what I’m ready to defend with my life. Whoever, I emphasize, whoever says he would not do anything good to Nigeria, even if he says he’s ready to go ‘konko below’, I’m ready to square it up with such a person. I say again, whoever that person may be, I want you to get that correctly. If this country is going to change for the better, it would start from the top and if it’s going to be otherwise, it would start from the top, too."

Chief Obasanjo also spoke about the forthcoming election as he advised the electorates to vote for candidates with integrity and good records.

“I have no apprehension over this coming elections. I have no fears over the forthcoming elections. I have had some little experience about this country. I was a military head of state and I was also a civilian president, so what is left?’
“So, if I talk, I know what I’m saying. Whoever wants, should listen to me and whoever feels otherwise, may turn a deaf ear. But when I’m talking, I’m talking with my understanding and intellect. I’m drawing from my experience and from what I’ve learnt with others and from other countries and fellow eminent citizens of the world that I relate with. But leave all of that.
“Good governance comes from voting, from selection of leaders. It is now left to you to decide who you cast your vote for because if you throw away your votes and tomorrow you are saying good governance, once you throw away your votes you have lost out. That is one. Find out the track records of achievements of those you want to vote for. What have they achieved in the past and not what they have said’.
“Truly, the price of crude has fallen, but anyone who is wise enough should know that since we depend on just one resources, and since we have no control over its pricing, we should be planning for this type of situation and the way out of it. Our inability to have reserve has brought us into this economic quagmire.”

The Iyalode of Yorubaland, Chief Alaba Lawson, who led the delegation of South West women, lauded the former President for his efforts and contributions towards the progress of Nigeria. She told Obasanjo earlier in her speech that the level of corruption and insecurity in the land has created an atmosphere of fear stressing that they are the most affected in the present challenges facing the country.

“You are the hand and eye in all the nooks and crannies of Nigeria. You are the voice everybody is waiting to hear his response on any topical issue in the public domain. We believe we are in the right place to discuss with you some knotty issues bleeding our hearts as we have seen you as a beacon of hope and lights for the nation.”

“The unabated nefarious activities of the insurgents which have placed us as a people on the throes of war is worrisome to us, because womenfolk is the most affected. Countless Nigerian women have lost their lives, husbands, children, relatives and sources of livelihood as a result of the despicable acts of killing and wanton destruction by the Boko Haram insurgents."