Jonathan’s reckless spending caused recession, says Obasanjo

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Former President Olusegun Obasanjo on Saturday accused the immediate past President, Dr. Goodluck Jonathan, of ignoring warnings about a looming recession and the consequences of the “reckless” spending of his government.

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Obasanjo said in Abeokuta, the Ogun State capital, that two years ago when he saw signs that Nigeria was walking down the path of recession and the way the powers that be were expending the nation’s resources, he drew Jonathan’s attention to the danger ahead, but was ignored.

The former president spoke during a lecture organised by the Youth Fellowship of Owu Baptist Church, Abeokuta to mark Nigeria’s Independence Day anniversary.

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He said the economic situation in the country has turned development upside down as “things are not what they should be”.

He cited the high level of unemployment, which he described as a time bomb.

“Unemployment is a major problem in the country today and if we don’t take care, it will consume all of us. In fact, the rising unemployment is a time bomb,” he said, pointing out that the high rate of unemployment was responsible for youth restiveness in the country.

He asked that the situation be tackled with all the seriousness it deserves before it gets out of hand.

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Obasanjo added: “Whoever that has lived to witness the celebration of today should thank God.

“Things are not what they should be, but we should pray that next year will be better than this year.

“We thank God for those who are alive, we pray for the souls of those who have laboured for this country and who have passed on to rest in perfect peace.”

The former president recalled how he got five job offers immediately he completed his secondary school education at Baptist Boys High School, Abeokuta.

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8 thoughts on “Jonathan’s reckless spending caused recession, says Obasanjo

  1. Is Jonathan also responsible for the current exchange rate of $1 to over #500? Frustrated idiot if I may say

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    1. You are very dumb. Why are you asking dumb questions just because you can't be physically seen! Olodo. If I hear you talk about Nigeria again

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  2. Stop blaming Jonathan
    You were the person who nominated Jonathan
    And you also have faults
    What we need is the way forward and not backward
    Solution and not the problem

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    1. Sola good observation. But there are no excuses in the grave. Jonathan buried the old Nigeria! The new Nigeria got to work. Serious bros

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  3. So, when you OBJ was releasing you Capital votes in the last weeks of December for 4years when you were in Office, and the monies were shared because no government department could use it, was it not wasteful? You Daughter Iyabo, then Senate Committee Chairperson received N300,000,000:00 as her share of unspent Ministry of Health capital vote for only 1year. Was it Jonathan Government? Was it Jonathan Government that budgeted and spent N320Billion for roads repair in 4years without repairing one metre of Federal Road? Col. Umar your friend specifically mentioned, and Ogun people will confirm, the road to your farm was not repaired. Or you forgot, your own people threw pure water bags on you when you were stocked at Iyana Igbaja Federal Road in Lagos State, which wast hen impassable, because you did not repair or build any road, whereas, the budgeted monies were syphoned? Benin-Ijebu Express was that bad that, it sometimes took days to travel from Benin-Lagos, and people sometimes sleep in the busy when motorists were forced to pass through colonial roads of the 1930s? Can Buhari probe your era? USA citizen who shared Federal Oil money on Contracts awarded by your Government are in prison in the USA. They were clearly named, persons who now run business in your behalf, they are free walking in the streets of Nigeria. Halliburton exactly? Power Contracts in the Billions in Dollars without anything done during your government, OBJ, when people are talking, try close your mouth. Because, you are an Ex-General, every time you run to ABUJA to remind the man of your old generals allegiance. Nothing spoil. If we go near by Countries, we will know the owners of Refineries supplying refined fuel to Nigeria with Nigerian Crude Oil. Some are said to be linked to our Off Shore Wells and are pumping free of charge to refine in one small African Country in the Sea and sell back to us. And you are talking and calling names that are responsible for economic crash?. O/Level economics would have thought you and Buhari that once capital is held and not invested productive activities, the productive forces will not be at work and the economy must crash. Buhari withheld all sources of Federal Revenue through the TSA and did nothing for more than 1year and suffocated the economy. That is a truth all know. Would the economy stimulant, money if not injected into the economy, wouldn't it crashed? Question? Now, Adeosun Minister of Finance is saying we will borrow and inject money into the economy to recover from the recession. Where was she when PMB was mopping all the sources of revenue into the TSA and did nothing? Ministries cannot buy even Broom to sweep their offices. No contracts awarded, all Oil sales were into TSA. NNPC/NAPIMS, Ministries did not do any new project, neither did pay any completed job. Everywhere dried up. Won't the economy dry up? Would every mind remain same like yours, and would not look at the cause of the main problem? When people do nothing, nothing happens. So, all were engaged in blaming and only opening projects previous governments have executed and yet saying "I did not inherit anything" The crash of the economy is the direct result of doing nothing for over 1year by Buhari Government.

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  4. Within one and a half year Buhari has removed the stereotype of Nigerian kleptomaniac pathology from international consciousness.
    The economy will pick in a foreseeable time.But for Jonathan the blame may navigate the next generation.

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