Jonathan leaving empty treasury for us, APC govs-elect tell Buhari

• As FG borrows to avert cash crunch

Ahead of May 29 swearing-in ceremony, serving governors and governors-elect under the platform of the All Progressives Congress (APC), yesterday met with the President-elect, Muhammadu Buhari and expressed their concerns about the present state of the economy.

Briefing journalists after a closed door meeting with the President-elect in Abuja, Chairman of the forum, Governor Rochas Okorocha of Imo State, said that it was needful that they informed the incoming president of the challenges ahead.

He said that it is worrisome that most states of the federation have not paid salaries of workers up to three months as well as the Federal Government who has not paid salaries for April.

“One of the issues that became of concern to all of us is the state of the Nigerian economy which is really in bad shape. We have come to notify the incoming president of the challenges ahead of him”, Okorocha said.

“We wonder with the huge expectation from Nigerians and people who have voted us into power, we are hoping that the president-elect will do whatever is humanly possible to bring about a bail out, not only on the states, but the federal government at least for people to get their salaries and turn around the economy.”

According to him, the problems confronting the country is good enough reason to work and support the president elect when he is sworn into office. We are calling on other parties to come on board and support the incoming administration.

When asked if power sharing and ministerial appointments was discussed, he said, “That is too early, but as a party, we shall all work together to make sure that there is equitable distribution of positions and Infrastructure in Nigeria”.

Meanwhile, Nigeria has already borrowed more than half the amount it budgeted for the full year as it struggles to deal with lower income from oil, Finance Minister, Dr. Ngozi Okonjo-Iweala has said.

Africa’s biggest crude producer and economy has sold 473 billion naira ($2.4 billion) so far in domestic and external debt this year, within the budgeted allowance of 882 billion naira for 2015, she told reporters on Tuesday in Abuja.

“We’ve had to manage the first half on a month-by-month basis,” Okonjo-Iweala said. “We’ve had a cash-flow crunch.”

Under the 2015 spending plan approved by lawmakers last month, Nigeria, which relies on oil for about 70 percent of government spending, will run a fiscal deficit of 1.09 percent of gross domestic product, she said.

“Under very difficult circumstance we’ve managed to keep the country going,” Okonjo-Iweala further revealed.

The price of Brent crude has fallen more than 40 percent since last year’s peak in June. Nigeria isn’t the worst-affected of oil-producing nations because it has made improvements in agricultural output and its inflation rate is still holding below double figures, Okonjo-Iweala said.