President Muhammadu Buhari may have successfully performed the first of many miracles expected from him by Nigerians.



After 40 days and 40 nights (it’s actually 39 days) on the saddle, President Muhammadu Buhari has performed his first miracle: He has conjured a mind-boggling N414 billion out of an otherwise ‘empty treasury’.

‘Bailout’ is the catchword. And now, our errant governors can return to their old habits. There’s now plenty money to spend again. The party can start afresh. Yes, the bazaar is back!

A whooping N413.7 billion. Another N250 billion (in the least) coming from the Central Bank, in the form of soft loans. A restructuring of commercial loans amounting to about N660 billion, with the Federal Government set to serve as guarantor for fresh loans that the states may procure from commercial banks. The governors have definitely got back their groove. The spirit of the prodigal is set to return.

After nearly six weeks of prevaricating, PMB, who is not usually swayed by public opinion (which also explains why he’s taking his time and ignoring all of us clamouring for him to announce his first cabinet), has finally capitulated to pressure. He has emptied our excess crude account (which Goodluck Jonathan was supposed to have cleaned out, by the way) and shaken out every dime inside the purse containing our LNG proceeds. And like the PDP before it, the APC is now set to “share the money”!

The only difference now is that everything has been put on the table for sharing – unlike before, when they only brought a fraction to the sharing-table, while the larger chunk remained under the table, from whence it vanished into private pockets.

Of course everyone, saint and sinners alike, is getting a cut. It is to cushion the effect of 16 years of PDP’s mismanagement, especially in the last two years. A monumental mismanagement that has left the country and its economy prostrate.

Click here to read more

SOURCE: THE SUN