President Muhammadu Buhari has given more
insights on the extent of corruption in the country’s
oil sector under the administration of former
President Goodluck Jonathan.

He spoke on Tuesday while reacting to questions
from members of Nigerians In Diaspora
Organisation (NIDO) in the United States and
Canada at the Nigerian Embassy in Washington DC.
According to him, “250,000 barrels per day of
Nigerian crude were being stolen and people sell
and put the money into individual accounts,”
adding that the United States and other developed
countries “are helping us to trace such accounts
now.”

” 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 stated.

Citing the example of the Nigerian National
Petroleum Corporation (NNPC), President Buhari
said unlike what obtained during his tenure as
Federal Commissioner for Petroleum under military
regime when the NNPC had only two traceable
accounts before paying oil proceeds into the Central
Bank of Nigeria (CBN), “now everybody is doing
anyhow.”

The President, who expressed skepticism on the
existence of oil subsidy, said if subsidy was
removed, transport, housing and food prices would
go out of control and the average worker would
suffer untold hardship.

olapluto:
1 million barrels per day at 105USD = 105 million USD per day. Honestly, anyone still supporting the past administration is a wicked soul, and is the lowest of low.

You dey mind them

Cc: Firefire, come and tell us another lie. child of hate.

donholy28:
See dix man o....Jonas ministers re not there...yet u say dem still dey sell 1mil barrels a day