Former Nigerian President Olusegun Obasanjo has unveiled information regarding the nation’s crude oil industry, stating that more than 80% of Nigeria’s crude oil production is being stolen.
Speaking at the launch of Dr. Umar Ardo’s book titled ‘Court and Politics’ in Abuja, Obasanjo stated that rampant theft of crude oil is a significant factor contributing to the country’s economic downturn.
Obasanjo, represented by former Niger State governor Babangida Aliyu, highlighted the dire consequences of the theft, stating that while Nigeria’s daily crude oil quota stands at approximately two million barrels, an alarming 1.7 million barrels are being pilfered.
The former president attributed Nigeria’s inability to account for its oil production to pervasive theft, a phenomenon not observed in other oil-producing nations. He lamented the lack of proper governance and enforcement mechanisms, which have allowed such widespread criminal activity to persist unchecked.
Furthermore, in light of Nigeria’s leadership challenges, former Northern Elders Forum Chairman, Prof. Ango Abdullahi, echoed Obasanjo’s concerns, emphasizing the urgent need for political reform. Abdullahi criticized the failure of Nigeria’s leadership to address critical issues, including the dismal state of power generation, despite the country’s burgeoning population.
Abdullahi urged a return to the drawing board, advocating for constructive dialogue and the adoption of effective governance systems. He emphasized the imperative of acknowledging past failures and collectively charting a new course for Nigeria’s future
