Presidency Blasts PDP Over Bailout Fund Statement

The Presidency has reacted angrily to the claim by the Peoples Democratic Party (PDP) that most of the money approved by President Muhammadu Buhari for bailout for financially ailing states was accumulated by the last government.

It said in a statement issued by the Special Adviser (Media and Publicity) to the president, Femi Adesina, in Abuja on Wednesday, that the opposition's intention was to cause unnecessary controversy over a benign effort by Buhari to alleviate the sufferings of workers.

The Presidency deplored what it said was the attempt by the PDP and its agents to create an unnecessary controversy over the well-intentioned effort by President Buhari to give some relief to state governments and long-suffering public sector workers.

It said: "We also reject the banal and ludicrous demand by the PDP spokesman, Olisa Metuh, that the PDP government which was ousted by Nigerians at the last general elections for running the country aground be given some credit for 'saving' the funds that were disbursed as part of the intervention package approved by President Buhari.

"Mr. Metuh's claim that a significant amount of the funds came from savings accumulated in the Excess Crude Account and handed over to the Buhari administration is completely false and deliberately intended to mislead the public.

"As we clearly stated yesterday (Tuesday), the funds approved by President Buhari for sharing to the three tiers of government on Monday came entirely from dividends and taxes paid to the Federation Account by the Nigerian Liquefied Natural Gas Company (NLNG), not from the Excess Crude Account.

"The disbursed NLNG dividends and taxes were paid into the Federation Account in June this year and confirmed by the Central Bank's statement to the Federal Government on July 7, 2015. The funds cannot therefore be considered 'savings' by the Jonathan administration which left office in May 2015, as disingenuously claimed by Mr. Metuh.

"Instead of being repeatedly impugned and castigated by the PDP and its agents for honestly telling Nigerians that the nation's treasury has been immensely depleted and its resources looted or squandered under previous administrations, President Buhari should be commended for the openness, transparency and accountability which he has now brought to the management of national funds.

"It was in keeping with that disposition that the President promptly disclosed the accrual of the NLNG dividends and taxes to the Federation Account at his recent meeting with state governors and approved the convening of a special session of the FAAC to share it.

"As a state governor who was present at the meeting remarked, under past administrations, the states never had the benefit of such disclosures.

"Mr. Metuh and others who now ungratefully see Monday's disbursement of the NLNG proceeds as their 'legitimate' earnings and not a 'bailout' from the Federal Government may wish to tell Nigerians if such earnings were ever disclosed by the PDP Federal Government and paid to the states in the past.

"The public may also wish to note that the Buhari administration itself has never referred to the actions which it has taken to ease the current financial difficulties of states as a 'bailout.'

The PDP had on Tuesday accused the Presidency of 'yet another embarrassing flip-flop' following what appeared to be inconsistency between what the Accountant General of the Federation (AGF), Ahmed Idris, said was the source of fund for the bailout and the clarification later given by the Presidency.