Former Minister of Aviation Femi Fani-Kayode has said individuals in the administration of ex-President Umaru Yar’Adua should be held responsible for the squandering of the excess crude account.
The chieftain of the Peoples Democratic Party (PDP) said Goodluck Jonathan should not be blamed for an empty excess crude account.
In a post on his Twitter page, Fani-Kayode also praised Olusegun Obasanjo for saving lots of money for Nigeria.
He wrote: “OBJ’s record in terms of savings, prudence and fiscal discipline remains unbeaten.
“This is an incontrovertible and indisputable fact. It is also a fact that both our Excess Crude Account and Foreign Reserves were heavily depleted in the three years after he left office.
“When OBJ came to power in 1999 he met $1.1 billion in foreign reserves and no Excess Crude Account.
“When he left power in 2007 he left $45 billion in foreign reserves and $22 billion in the Excess Crude Account. OBJ left an unbeaten record total of $67 billion in savings!
“When Yar’adua came to power in 2007 he spent $16.5 in 3 years out of the Excess Crude Account!
“By the time Jonathan took over power in 2010 only $6.5 billion was left in that account.
“Rotimi Amaechi should ask Yar’Adua’s men what that money was used for and not Jonathan.”
The Minister of Transportation, Rotimi Amaechi, had accused the Jonathan administration of siphoning the money in the account.