The president-elect, Muhammadu Buhari and his administration will need about N4.1 trillion for sundry expenses including oil subsidy payment, arrears of salaries at federal and state levels and debt servicing, the National Chairman of the All Progressives Congress (APC), Chief John Odigie Oyegun said on Saturday.
Oyegun said this while speaking at a retreat for APC senators elect in Abuja where he told them that the lawmakers may, in the course of their duty be required to pass important bills at short notice in the interest of the nation.
The APC Chairman added that unparalleled commitment, uncommon patriotism, unprecedented hard work and indeed a reservoir of the innermost strength will be required to overcome the challenges ahead.
“Make no mistake about it, the days ahead will be tough, and this is not crying wolf. From the first day of this government, a total of 4.1 trillion Naira will be required for sundry expenses, including oil subsidy payment, arrears of salaries at federal and state levels and debt servicing, just to mention a few.
“Put this against the background of the falling oil prices, the unprecedented 60-billion-dollar debt which the outgoing government has left for the incoming one, the largely depleted Excess Crude Account (ECA), the 60 billion dollars that have been lost in the last four years to crude oil theft (and which are perhaps still being lost as we speak), the need to rapidly create jobs for our teeming army of unemployed youths, enhance the security of the citizenry and improve the economy, and you will begin to understand the enormity of the challenges ahead.
“This is not a lamentation forum, but still, we must tell ourselves the truth about the state of the nation, and the expectations of our people. In fact, to a number of our compatriots, by May 30th, a day after the swearing in of our President-elect, all the streets in Nigeria will be air conditioned while electricity will become stable and fuel scarcity will be a thing of the past.
“Yes, we will get there, but it won’t happen overnight. You, our Senators-elect, will be called upon to take extraordinary actions to address the extraordinary challenges that confront our nation.,” Oyegun stated.