Where is N5tr oil money, APC asks Jonathan

The All Progressives Congress (APC) Presidential Cam­paign Organisation (APCPCO) has asked the Peoples Democratic Party (PDP) to explain to Nige­rians how N5 trillion in oil and gas revenue allegedly gone down the drain.

In a statement by the Director of Media and Publicity, APCPCO, Mallam Garba Shehu, in Abuja yes­terday, the organisation chal­lenged President Goodluck Jonathan to explain why over N5 trillion in oil and gas rev­enue vanished under his su­pervision, through fraud and embezzlement.

“This government must an­swer the questions posed by the different Committees and Task Forces thaat probed the Oil and Gas Sector between 2011 and 2012. By this, we mean the Nuhu Ribadu-led Petroleum Task Force Report, the Minister of Trade and In­vestment’s report on stolen crude; the House of Repre­sentatives fuel subsidy report coupled with the investiga­tions into the ecological fund, SIM card registration and fre­quency band spectrum sale,” APCPCO said.

The campaign organisa­tion recalled that a national newspaper had in its Novem­ber 25, 2012 edition alerted Nigerians on how over N5 trillion oil money had been stolen under Jonathan’s ten­ure.

Bemoaning the shock that the nation’s economy was currently going through as a result of the free-fall of the oil pries, APC noted that waste and graft associated with the management of the oil and gas revenue had further com­pounded Nigeria’s economic predicament.

It noted that if the above scenario was frightening, what followed in the last two years had been worse and most flagrant.

“Industrial theft of oil surged from 250,000 to 400,000 barrels per day and remains unabated. The issue of corruption was also re­packaged and lowered to the status of petty stealing. Worse still, innocent whistle-blowers were hounded out of office,” it stated.