APC Chairman John Oyegun Says N4.1 trillion needed to pay outstanding salaries .

The National Chairman of the All Progressives Congress (APC), Chief John Oyegun has said that the incoming federal  government headed by President- elect, Muhammadu Buhari  will need a whopping N4.1 trillion to pay outstanding salaries of workers at the federal and state levels and also to offset  petrol subsidy payments as well as service debts incurred by the outgoing administration.

Oyegun, who was speaking at a two-day retreat for APC senators-elect in Abuja on Saturday, lamented the state of the economy, urging Nigerians to show understanding since the expected change in the state of things would not happen overnight.

Oyegun said there  is no magic wand to make the economy better overnight. Against the realities on the ground, the party chairman said   reviving our economy will be a long and tortuous process.

“Make no mistake about it, the days ahead will be tough, and this is not crying wolf. From the first day of this government, a total of 4.1 trillion Naira will be required for sundry expenses, including oil subsidy payment, arrears of salaries at federal and state levels and debt servicing, just to mention a few," he said.

Oyegun, however gave an assurance that with an APC government, things would surely get better.

"Bold decisions will need to be taken, and this can only be possible if there is a synergy among our party, the National Assembly and the President. We know you will not fail us, and you will not fail Nigerians.

“Put this against the background of the falling oil prices, the unprecedented 60-billion-dollar debt which the outgoing government has left for the incoming one, the largely depleted Excess Crude Account (ECA), the 60 billion dollars that have been lost in the last four years to crude oil theft (and which are perhaps still being lost as we speak), the need to rapidly create jobs for our teeming army of unemployed youths, enhance the security of the citizenry and improve the economy, and you will begin to understand the enormity of the challenges ahead.

Details Later.