Buhari says Nigeria's treasury is "virtually empty"

Nigeria's new President Muhammadu Buhari said the country's treasury was “virtually empty”, less than a month after taking office as President.

Read more: Buhari takes office as President of Nigeria

In a press briefing the new president said he inherited millions of dollars worth of debt from the previous government, led by Goodluck Jonathan.

"It is such a disgrace for Nigeria." he added. “This is the bad management that we find ourselves in.”

He also commented how some government workers had not been paid for months, and added he was due to meet state governors to discuss the crisis.

"This bad management we find ourselves in - we really need your help to protect us from people before they march on us," Buhari said.

During the electoral campaign, he promised to meet the growing energy requirements of the population, to create jobs and to tackle corruption.

After winning the elections, Buhari admitted that the Nigerian economy was "in deep trouble".

He told journalists he came to power amid "insecurity, pervasive corruption... and seemingly impossible fuel and power shortages.”

Read more: Opposition leader Buhari wins elections in Nigeria

Buhari, former military ruler, became the first opposition leader to win presidential elections in Nigeria, Africa’s biggest economy and largest oil producer, since it became independent in 1960.

Oil has been a dominant source of government revenues since the 1970. In 2013, the country produced 2,367m Brent barrels a day.

The International Monetary Fund forecast economic growth to slow 4.8% in 2015 from 6.3% last year.

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