President Muhammadu Buhari has accused the Peoples Democratic Party (PDP) of wasting about $500 billion oil earnings during its 16 years in power.
Buhari made this revelation on Monday in Abuja at the All Progressives Congress (APC) National Caucus meeting.
According to him, he took over the country when it was on the verge of collapse, adding that the PDP failed to invest when oil earnings were high.
“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.
Buhari took over in 2015 after beating Goodluck Jonathan of the PDP.