Lagos – Minister of Finance, Ngozi Okonjo-Iweala has disputed former President Olusegun Obasanjo’s claims that the Goodluck Jonathan administration squandered the country’s reserves, Premium Times reports.
Obasanjo said in a meeting with South West women leaders in Abeokuta that $67 billion that was left in the foreign reserve account by his administration was depleted by Jonathan’s government.
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In a statement, Okonjo-Iweala said that the present government only inherited $43.13 billion and that part of the foreign reserves were used by the Central Bank of Nigeria (CBN) to stabilize the Naira, and the balance fluctuates with the swinging of the crude oil prices.
She also said that funds were used to pay for fuel subsidies to petroleum marketers to ensure that there was a greater supply of fuel in the country..
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