Ex-President Olusegun Obasanjo has said that the bulk of Nigeria’s crude oil, surpassing 80%, has been siphoned off through theft.
Obasanjo made these remarks while attending the book launch event of ‘Court and Politics’ by Dr. Umar Ardo, who previously worked closely with former Vice President Atiku Abubakar, in Abuja.
The former president pointed out that Nigeria’s economy is in dire straits partly because, unlike other oil-producing nations that maintain accurate records of their oil production, Nigeria’s inability to do so stems from rampant theft.
Drawing attention to the issue, Obasanjo, speaking through former Niger State governor Babangida Aliyu, underscored how crude oil theft is exacerbating the economic challenges facing Nigeria.
According to the former president, out of the allocated crude oil quota of approximately two million barrels per day, a staggering over 1.7 million barrels are being siphoned off through theft.
Obasanjo addressed the debate on Nigeria’s potential return to the parliamentary system, stating his confidence in the effectiveness of the current presidential system while highlighting the issue of non-compliance with established norms among Nigerians.
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Prof. Ango Abdullahi, former Chairman of the Northern Elders Forum (NEF) and ex-Vice Chancellor of Ahmadu Bello University (ABU), has offered his perspective on Nigeria’s leadership, delivering a verdict on its failure to effectively serve the populace.
Abdullahi stressed the necessity of liberating the nation from its leadership challenges, advocating for the cultivation of a healthy political ethos and emphasizing the adaptability of governance structures.
Abdullahi said, “Enough of our failures. Something else must give way to our failures. We have failed this country. This must stop.”
He said, “Time has come for us to go back to the drawing boards to rescue this country.”
The former chairman NEF lamented that Nigeria with a population of over 200 million people is struggling to generate 4,000 megawatts of power.
According to him, “Enough is enough of our failure; we must agree that we failed enough.
“I visited Dantata and he was very angry with me, saying the people of the North have failed the North and Nigeria. Until the North accepts that they have failed the North and sit together to discuss the way forward, there won’t be progress.
“We gathered in 1978 when we wanted to return to civilian rule. We were to discuss why the system of 1961 failed but we were shocked when they said the parliamentary system of government was not going to be discussed and that we should go for the federal system of government.
Abdullahi stated that they were given two options: the French and American systems. He mentioned that they had practiced the presidential system for 24 years and considered it a failure, giving it an F9 score. He emphasized that it was time to return to the drawing board to save the country.