In 16 years PDP squandered $500bn oil earnings –Buhari

President Muhammadu Buhari says the  People’s Democratic Party (PDP) squandered about $500 billion oil earnings in the 16 years it was in power.

Buhari made this known during his remarks at the opening of the All Progressives Congress (APC) National Caucus meeting, at the new Banquet Hall of the Presidential Villa, yesterday.

He disclosed that he took over at a time Nigeria was fast heading for collapse.

He said “It is easy to forget the fuel subsidy fraud, arms fund diversion, depleted excess crude account savings, depleted foreign reserves, massive unpaid debts to contractors and suppliers amidst failure to invest or even maintain our infrastructure namely railways, roads, electricity, in spite of having earned over $500 billion from oil and gas alone, during the 16 years of PDP rule.”

On his part, National Chairman of APC, Chief John Odigie-Oyegun, said despite the successes recorded by the current administration, the 2019 elections, beginning with Ekiti and Osun, on July 14 and September 22, respectively, promises to be challenging.

Oyegun called on party members to be committed, put aside all differences and work to ensure victory for the party at the next elections.

He said, “Disagreements and differences of opinion are normal features of democratic associations, but we must not allow these to develop to the extent that it becomes fetal to the existence of our party, and the achievements of its basic objective of winning elections and forming a government that serves the interests of our people.

“I, therefore, fully support the Asiwaju Peace Committee constituted by the president, to reconcile all aggrieved groups within the party and I encourage all of us to support the committee. The success of this committee will provide great impetus to the realisation of victory for the party in the forthcoming general elections. I wish to note that the road so far has not been smooth sailing, but we have weathered the storm. We should be truly proud of the achievements of our government at all levels.”

At the meeting were Vice President, Yemi Osinbajo, Speaker, Yakubu Dogara, National leader, Asiwaju Bola Ahmed Tinubu, Governors, members of the National Working Committee, members of the National Assembly, members of the National Executive Council, former Governors and Ministers, among others.