President Muhammadu Buhari has explained that the Peoples Democratic Party (PDP) still owes Nigerians explanation on how it expended the revenues accrued to the country from oil sales between 1999 and 2014.
An estimate by NEITI put the total amount earned during the period at $592 billion.
Buhari said his administration met a country with dilapidated infrastructure all round in 2015, and it calls to serious question what the party that was in power for 16 years did with the country’s earnings from oil, which reached a peak during the period.
“PDP has not successfully explained to the country what they did with the money,” President Buhari said.
“There were no roads, no rail, no power. They said they spent $16 billion on power, but where is the power? The irresponsible expenditure of that period has not been explained, and Nigerians deserve an answer on that terrible mismanagement of the country.” He said
The President also announced that the recently passed national minimum wage bill will be implemented by the federal government.