Former President Olusegun Obasanjo has again blamed President Goodluck Jonathan for the nation’s economic woes, accusing him of depleting the huge foreign reserve he left behind in 2007.
According to him, Nigeria does not deserve to be in its present state, lamenting, “Nigeria does not deserve the situation it found itself. Our nation bleeds in poverty, economic downturn, sheer impunity and insecurity.”
Obasanjo spoke on Monday when he received the Southwest women leaders led by the Iyalode of Yorubaland, Mrs. Alaba Lawson Iyaloja – General of Nigeria, at his Hilltop Mansion in Abeokuta, Ogun State. Also on the delegation was the Iyaloja – General of Nigeria, Mrs. Folashade Tinubu – Ojo.
He accused President Jonathan of squandering the foreign reserve and the excess crude accounts.
Obasanjo recalled that the administration of late President Musa Yar’Adua increased the huge money he left in the foreign reserve, regretting however that the account has now been depleted.
The former President noted that the crash in naira could be traced to the depletion of the foreign reserve by the Jonathan administration.
Blaming Jonathan for the naira crash, Obasanjo said, “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.”
“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”.
He spoke further on the state of the economy, “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 $25 billion we kept in what they call excess crude (account).
“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 $35 billion.”
“But today, that reserve has been depleted.
“The reserve we left when we finished paying all our debts, our debts that was about $40 billion, that is including debt forgiveness, the remaining debt was not more than $3 billion.
“Our reserve after we had paid off this debt was about $45 billion. As I said, they continued till the end of 2007.
“I heard that the reserve increased to almost $67 billion before the end of the year. Our reserve now, learnt is left with around only $30 billion.
“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.
“Our inability to have reserve has brought us into this economic quagmire,” he said.
However, Obasanjo said hope is not lost yet as the situation as bad as it is could still be remedied, adding that it would not be overnight.
His asked, “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.
On the upcoming general elections, Obasanjo said “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.
“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,” he counselled.
