Former President Goodluck Jonathan has debunked claims that Nigeria lost $49.8 billion in oil revenue under his government, insisting the figures were inconsistent and politically motivated.
Former Nigerian President Goodluck Jonathan has revisited the controversy surrounding reports that his government lost nearly $50 billion in oil revenues, dismissing the figures as politically motivated and inconsistent.
Jonathan recalled how the matter first arose in 2012, when the then Central Bank Governor and head of the national treasury raised alarm that the country had lost $49.8 billion between January 2012 and July 2013.
He noted that the figures kept changing, dropping from $49.8 billion to $12 billion, and later to $20 billion, prompting investigations by the Senate and audits by PricewaterhouseCoopers (PwC).
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According to Jonathan, the PwC report did not indict his administration for theft but revealed that the Nigerian National Petroleum Corporation (NNPC) failed to properly account for about $1.48 billion due to documentation lapses.
Jonathan also recalled an encounter with then German Chancellor Angela Merkel during an EU-Africa Summit in Brussels, where she confronted him on the alleged missing billions.
“She looked at me and said, President Jonathan, Nigeria lost $49.8 billion. I told her, ‘Your Excellency, Germany’s economy is very strong. If you lose $50 billion, you may not even notice it. But if Nigeria loses $50 billion, both federal and state governments would not be able to pay salaries,’” Jonathan recounted.
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The former president admitted that corruption exists in Nigeria and Africa, but insisted that some of the allegations made against his government were exaggerated for political reasons.
“Yes, there’s corruption in Africa and Nigeria, no doubt. But some of these stories are not absolutely correct,” he added
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