How Nigeria Created Mass Poverty Over 15 Years with $107.4 billion! – Premium Times Report

How Nigeria Created Mass Poverty Over 15 Years with $107.4 billion! – Premium Times Report

As I have noted, Nigeria’s problem is never money: we do have decent enough money in this country. Our biggest problem is paralysis at all levels of leadership. Interestingly, over the next 14 days, Nigerians will have opportunities to make their calls via elections.

So, the trending Premium Times report which noted that in the last 15 years Nigeria has spent $107.4 billion (the equivalent of N15.46 trillion) from the Excess Crude Account (ECA) under the administrations of Olusegun Obasanjo, Umaru Musa Yar Adua, Goodluck Jonathan and incumbent President Muhammadu Buhari while recording mass poverty is nothing new.

In the last fifteen years, the Nigerian government has spent at least $107.4 billion (the equivalent of N15.46 trillion) from the Excess Crude Account (ECA) under the administrations of Olusegun Obasanjo, Umaru Musa Yar Adua, Goodluck Jonathan and incumbent President Muhammadu Buhari.

A Premium Times Centre for Investigative Journalism (PTCIJ) report revealed that Nigeria earned $109.37 billion, approximately N15.274 trillion, as excess crude money between 2004 and 2018. According to the report, the fund reached its peak with a real inflow of $18.16 billion in 2008.

This is a country where people die like goats in campaign rallies as organizers cannot even manage simple partisan crowds. If you are counting, we have lost (or seriously wounded) more than 20 Nigerians during this election cycle. Life goes on after the usual apologies with no one going to jail for dropping the balls. Yes, no accountability at all levels.

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