Nigerians Waiting For Audit Report On Missing $20 Billion - Buhari

All Progressives Congress (APC) presidential candidate Gen. Muhammadu Buhari yesterday described corruption and insecurity as obstacles to economic growth, stressing that his administration will tackle the vices, if elected on February 14.

Gen. Buhari challenged the Jonathan administration to account for the missing $20 billion, adding that Nigerians are waiting for the report of the forensic audit ordered by the government. He said, if the cash cannot be accounted for, it is the greatest form of corruption.

The former military leader, who also promised to provide jobs through massive investments in agriculture and mining, said the key to economic recovery and poverty eradication is regular power supply and abolition of corruption, reports the NATION.

Gen. Buhari said: "Corruption affects our ability to secure ourselves and it also undermines the performance of the economy.”

He added: “Twenty billion dollars at ₦210 to one dollar is equal to ₦4.2 trillion, which is nearly a year’s federal budget. If it is true that this sum cannot be accounted for, this is the greatest form of corruption. Just think at ₦5 million per vehicle, this money would have bought 840,000 patrol vehicles. This will improve security in every town and village in this country.

“At ₦13.5 million for a high capacity bus, this money would have bought 311,000 buses. This would have revolutionalised the transport and production side of the economy. From the information at my disposal, Lekki Bridge in Lagos cost ₦29 billion to construct. ₦4.2 trillion would have built 145 Lekki bridges. This would have revolutionalised transport, infrastructure, construction, and employment in the economy.

“If the average cost of generating one mega-watt of power is about $1.5 million, excluding gas and distribution costs, $20 billion would have bought us over 13,333 mega watts of power. What a difference that would make up and down the country.”

Gen. Buhari flayed the Federal Government for borrowing money to fight Boko Haram in a country that successfully fought a civil war without incurring debts. He said: “When Chief Obafemi Awolowo was the Vice Chairman of the Federal Executive Council and Federal Commissioner for Finance, we did not borrow money to fight the civil war. But, they are now borrowing to fight Boko Haram.”