The Minister for Power, Works and Housing, Babatunde Fashola has disclosed why former President Goodluck Jonathan conceded defeat to President Muhammadu Buhari in 2019.
Fashola, a former governor of Lagos State said Jonathan conceded defeat because he knew Nigeria was at the brink of economic recession.
Speaking at a Town Hall meeting in Ibadan, Oyo State, Fashola claimed that Jonathan never wanted to be in charge of the country’s affairs during recession, hence he relinquished power.
He maintained that Jonathan’s government not only plunged the nation into recession but pushed it into debts.
According to Fashola, ”What was left behind were massive debts owed to contractors who had not been paid for three to five years and who had laid off thousands of workers and shut down equipment and plants.
”That was one of the reasons why the economy first went into, and, I suspect, one of the reasons they (Goodluck administration) quickly conceded defeat.”
Fashola disclosed that when the Buhari administration assumed office in 2015, the three ministries previous budget was N19 billion for works, N5 billion for power, and N1.2 billion for housing making a total of N25.2 billion, “as at when the country was selling oil at $100 per barrel in that decade”.
“In 2017, the All Progressive Congress (APC) led administration budget for works was N394 billion; power was N69.96 billion and housing was N64.9 billion (total- N529 billion) and oil price hovered between $40-$60 per barrel.
”Let me start by saying that my ministry is responsible for delivering some of Nigeria’s critical infrastructure for transport, electricity and housing,” he added.