Home Politics Buhari To Expose Ex- Ministers Who Sold Stolen Crude Oil

Buhari To Expose Ex- Ministers Who Sold Stolen Crude Oil


President Muhammadu Buhari has accused some former ministers of “selling about one million barrels of stolen crude oil per day” and diverting the gains to personal accounts.

Buhari made the revelations while speaking with Nigerians In Diaspora Organisation (NIDO) in the United States and Canada at the Nigerian Embassy in Washington DC on the third day of his visit to the country.

President Muhammudu Buhari

He said: “Corruption in Nigeria has virtually developed into a culture where honest people are abused.”

The president alleged that:“250,000 barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts.”  He said the United States and other developed countries are helping Nigeria trace those accounts.

He continued:“We will ask that such accounts be frozen and prosecute the persons. The amount involved is mind-boggling. Some former ministers were selling about one million barrels per day. I assure you that we will trace and repatriate such money and use the documents to prosecute them. A lot of damage has been done to the integrity of Nigeria with individuals and institutions already compromised.”

Buhari claimed that during his time as federal minster for petroleum, the Nigerian National Petroleum Corporation (NNPC), had only two traceable accounts from which the company paid oil proceeds to the Central Bank of Nigeria but the situation is different now saying: “now everybody is doing anyhow.”

The President expressed doubt that if the oil subsidy was ever removed; transport, housing and food prices would go out of control and the average worker would suffer untold hardship.

He said: “Who is subsidising who? But, people are gleefully talking, ‘remove subsidy’. They want petrol to cost N500 per litre. If you are working and subsidy is removed, you can’t control transport, you can’t control market women: the cost of food, the cost of transport.

“If you are earning N20,000 per day and you are living in Lagos or Ibadan, the cost of transport to work and back, the cost of food. You cannot control the market women because they have to pay what transporters charge them.

“If there is need for removing subsidy, I will study it. With my experience, I will see what I can do. But I am thinking about more than half of Nigerians, who, virtually cannot afford to live.

“Where will they get the money to go to work? How can they feed their families? How can they pay rent? If Nigeria were not an oil producing country – all well and good. Our refineries are not working. We have a lot of work to do.”

Buhari lamented that the “economy is in an extremely bad shape” following 16 years of bad government by the Peoples Democratic Party (PDP) which looted the treasury,  but he promised that APC-led administration will fulfill its campaign promises of providing security, turning around the economy with a major focus on youth employment and fighting corruption.

Buhari claims agriculture and mining would be given priority by his government just as he added that investors had agreed to come invest in the country.

On the situation of the Chibok girls, Buhari said: “Our objective is that we want the girls back, alive and returned to their families and rehabilitated. We are working with neighboring countries if they will help.”

While still in America, Buhari was engaged in an interview with the CNN in which he said his government will not spare any member of the APC as well as associates found culpable of corruption.

The interview was a part of Buhari’s 4-day visit to the United States.



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