Nigeria has been cast in the light of Idi Amin’s Uganda with the disclosure of the federal government’s alleged printing of N60 billion shared among states in March, 2021.
Senator Shehu Sani who represented Kaduna Central in the 8th Senate made this declaration on Sunday on his Twitter handle.
Sani spoke in reaction to a disclosure by Governor Godwin Obaseki of Edo State that the federal government printed N60 billion and shared among the states of the federation in March.
His words: “Obaseki’s disclosure of Printing and Sharing cast us in the light of Idi Amin’s Uganda.”
With Uganda’s economy in shambles under Idi Amin’s leadership, a minister of finance was said to have, with all the courage he could muster, told the dictatorial Idi Amin that the nation’s treasury was empty.
And to that, Idi Amin replied: “Why [do] you ministers always come nagging to President Amin?
“You are stupid. If we have no money, the solution is very simple: you should print more money.”
Knowing that the suggestion of the president was not the solution to the economic woe of the country, the minister fled to London instead of carrying out the order.
He knew the consequence of not carrying out the order could mean death.
Obaseki was quoted to have made the disclosure of the printed money on Thursday in Benin during Edo State transition committee stakeholders engagement.
His words: “In another year or so, where will we find this money that we go to Abuja to share every month?
“Last month, we got FAAC for March.
“The Federal Government printed an additional N50 to N60 billion to top-up for us to share.”
Lamenting the nation’s dwindling oil revenue, the governor was said to have stressed: “Where will the Federal Government find the oil revenue to share monthly as federal allocation among the three tiers of government?
“We say remove subsidy, they say no.
“This April, next week again, we will go to Abuja and share.
“By the end of this year, the total borrowing is going to be in excess of N15 to N16 trillion.
“My worry is that we will wake up one day like Argentina, the naira will be 1,000, 2,000 and will be moving because we don’t have money coming in.
“You are just borrowing, borrowing and borrowing without any means or idea of how to pay back.”
