The controversial politician regretted that the Yar’Adua/Jonathan administrations squandered the inheritance from Obasanjo’s government.
Olufamous.com gathered that El-Rufai lashed out at President Jonathan in a keynote address entitled; “13 years of civil rule: Few Gains, Many Pains,” which he delivered on Wednesday at the opening of the 2012 Law Week of the Nigerian Bar Association, NBA, Warri branch.
The former minister said he is unfortunate that the achievements recorded in the advent of the present democratic dispensation from 1999 to 2007 - particularly the liberalisation of the telecomms sector, which, according to him, brought in foreign investment, spurred ancillary businesses and put telephone in the hands of virtually every adult resident in the country - could not be sustained and consolidated upon by the Jonathan administration.
Mallam El-Rufai, who was represented by Chief Ayuba Giwa, said: “We saw the beginnings of a credible system, and even a skeletal mortgage scheme that assisted many of the buyers of Federal Government houses in Abuja. Nigeria won debt relief, consolidated its banking system and witnessed economic growth, no doubt assisted also by high oil prices.
“By 2007, the new government inherited vast reserve ($47bn) and ongoing series of power projects (NIPP), new rail system from Lagos to Kano ($8.3bn), Abuja metro ($800m) and vast excess crude account ($23bn).
“In short, a basis to hit the ground running, complete ongoing projects, initiate new ones and continue the work of solving Nigeria’s problem was created. Alas, that did not happen!”
The former minister said he is unfortunate that the achievements recorded in the advent of the present democratic dispensation from 1999 to 2007 - particularly the liberalisation of the telecomms sector, which, according to him, brought in foreign investment, spurred ancillary businesses and put telephone in the hands of virtually every adult resident in the country - could not be sustained and consolidated upon by the Jonathan administration.
Mallam El-Rufai, who was represented by Chief Ayuba Giwa, said: “We saw the beginnings of a credible system, and even a skeletal mortgage scheme that assisted many of the buyers of Federal Government houses in Abuja. Nigeria won debt relief, consolidated its banking system and witnessed economic growth, no doubt assisted also by high oil prices.
“By 2007, the new government inherited vast reserve ($47bn) and ongoing series of power projects (NIPP), new rail system from Lagos to Kano ($8.3bn), Abuja metro ($800m) and vast excess crude account ($23bn).
“In short, a basis to hit the ground running, complete ongoing projects, initiate new ones and continue the work of solving Nigeria’s problem was created. Alas, that did not happen!”
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