Former President Olusegun Obasanjo has made a startling revelation, asserting that more than 80 percent of Nigeria’s crude oil is stolen. Speaking at the launch of Dr. Umar Ardo’s book, ‘Court and Politics,’ in Abuja, Obasanjo highlighted the rampant theft of crude oil as a significant factor contributing to Nigeria’s economic challenges.
Obasanjo, represented by former Niger State Governor Babangida Aliyu, lamented that Nigeria’s inability to account for its oil production, unlike other oil-producing nations, is a grave concern. He emphasized that crude oil theft is a major contributor to the country’s economic woes, with over 1.7 million barrels being stolen daily out of a quota of approximately two million barrels.
In addition to addressing the issue of oil theft, Obasanjo weighed in on the ongoing debate regarding Nigeria’s governance system. He defended the presidential system, attributing the nation’s challenges to the lack of adherence to rules and regulations by its citizens. Dismissing calls for a return to the parliamentary system, Obasanjo stressed the importance of accountability and compliance with existing governance structures.
