Obasanjo Left The Country With Close To $50B Foreign Reserve And He Cleared All Our Debts' – Fayose

Ayo Fayose, former Governor of Ekiti State, has asserted that upon leaving office, ex-President Olusegun Obasanjo bequeathed the nation’s foreign reserves with a hefty $50 billion. Speaking to TVC news, Fayose maintained that these reserves under Obasanjo’s stewardship fortified the Nigerian currency. He contended that the present administration, led by President Bola Tinubu, strives to reinstate stability within the system. Fayose lamented that subsequent administrations following General Obasanjo’s tenure witnessed the erosion of these foreign reserves.

In his words, “Irrespective of one’s perspective on Obasanjo, he exited with an estimated $50 billion in foreign reserves for the country and settled our outstanding debts. Today, the excess crude account lies empty. Nigeria can freely transact in dollars, granted there exists a substantial foreign reserve to substantiate such expenditures, thereby upholding the currency’s reliability. But where are these reserves? Depleted. Moreover, everyday Nigerians exhibit a preference for imported goods, compounded by the dearth of domestic manufacturing.”

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