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PDP wasted $500bn oil earnings in 16 years –Buhari

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President Muhammadu Buhari  told his party men, at the Presidential Villa in Abuja, yesterday, that the  People’s Democratic Party (PDP) squandered about $500 billion oil earnings in the 16 years it was in power.

In his remarks at the opening of the All Progressives Congress (APC) National Caucus meeting, at the new Banquet Hall of the Presidential Villa, yesterday, Buhari disclosed he took over at a time Nigeria was fast heading for collapse.

“It is easy to forget the fuel subsidy fraud, arms fund diversion, depleted excess crude account savings, depleted foreign reserves, massive unpaid debts to contractors and suppliers amidst failure to invest or even maintain our infrastructure namely railways, roads, electricity, in spite of having earned over $500 billion from oil and gas alone, during the 16 years of PDP rule,” he said.

At the meeting were Vice President, Yemi Osinbajo, Speaker Yakubu Dogara, National leader, Asiwaju Bola Ahmed Tinubu, governors, members of National Working Committee, members of the National Assembly, members of the National Executive Council, former governors and ministers, among others.

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