The Presidency has explained how it spent the $1 billion drawn from the Excess Crude Account, ECA, in 2017 for the purpose of attending to issues bordering on national security.
The explanation was made against the backdrop of the allegation by the leading opposition party, Peoples Democratic Party, PDP, that the money was diverted and used for the campaign of President Muhammadu Buhari in the last general election.
Buhari contested the election on the platform of the ruling All Progressives Congress, APC, and won.
In a statement issued by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, the Presidency said the allegation by the PDP over the spending of the fund drawn from ECA was unverifiable.
The Presidency said the APC government was not run on the basis of freewheeling looting as allegedly done by the PDP.
It’s on record that the Buhari administration paid about 490 million dollars for a dozen Super Tucano fighter aircraft in a direct, government-to-government (no Contractors or Commission Agents) transaction with government of the United States.
“Various other military procurements have been made. Balance of expenditure stands at about 880 million dollars or so.
“The PDP spent Defence procurement funds on their failed 2015 political campaigns as proven in court.
”That is not to say every succeeding government, more so one led by a Buhari will do the same,” the Presidency stated.
