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Will the newly recovered $311 million Abacha loot be well spent?




Will the newly recovered $311 million Abacha loot be well spent? - Sani Abacha 1 300x177 - Will the newly recovered $311 million Abacha loot be well spent?


The late General Sani Abacha has today, become the Nigerian foreign bank reserve where both the past PDP and the current APC government withdraw foreign currency whenever the country’s politicians are in need of cash.

The former military dictator president has now become like an ancestor or you can say god to whom the Nigerian government cries unto and looks up to for financial bailouts whenever there is a dearth of resource in the country.


Abacha must have plundered and looted the Petrodollar money of Nigeria in a way only the heavens can imagine, but he is only a scapegoat in the scheme of massive looting going on, on a daily basis in this country.

Nigerian leaders in the past have in one way or another fraudulently extracted money from the Nigerian corrupt system. As at today, every dollar from Abacha’s loot repatriated into the country has been not been well spent by both the PDP and the APC governments.


This is some evidence for this, because a whopping amount of 3,838 billion dollars was estimated to have been recovered so far from Abacha, loots both at home, and mostly abroad (from 1998-2020). From all these mind-blowing recovered money, nothing – no trans-generational projects, nothing of substantial or economic value to the masses can you point unto that the recovered Abacha loot was used to achieve in any part of the nation.

We only hear and see these huge amounts of dollars coming into the country but no projects on the ground to show what the money was used for. This is why we can boldly say that all the Abacha loots recovered have allegedly been looted by past governments.


In 1998, 750 million dollars of Abacha’s loot was recovered by the Nigerian government. In the year 2000, 64 million dollars was also recovered. In 2002, another 1.2 billion dollars, in 2003, it was 160 million dollars, in 2003 again, another 88 million dollars.

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In the year 2005, 461 million dollars. In 2006, it was 44 million dollars and in 2014, it was 227 million dollars the Nigerian government got again. All these money above were recovered during the PDP administration.

Coming down to the APC era, in the year 2017, 322 million dollars, in 2019, it was 211 million Euros and the recent 311 million dollars Abacha loot has been recovered from a Jersey bank account in the US.

All these money recovered from late Abacha between 1998 down to 2020, yet, the poor masses in Nigeria are getting poorer every day. Nigeria still remains the poverty capital of the world with over a hundred million of its population living in extreme poverty.

No food, no clean water, no good roads, no good schools, no standard medical hospitals or medical facilities and no job for the able-bodied men and women to do in the country.


On Monday, May 4, 2020, another fresh 311 million dollars of Abacha loot was duly received by the Nigerian government. The presidential spokesman, in the person of mallam Garba Shahu said that the money would be used for ‘vital and decades overdue infrastructural development, the Mambila power plant, the second Niger bridge, the Abuja – Kaduna road etc.

But there are strong rumours flying in the air that over a hundred million dollars would be given to the Kano state government out of the newly recovered  311 million Abacha loot so that the state can fight Covid 19.

If this newly recovered money is not well spent, be rest assured that the poor would probably remain poorer in the midst of abundance!