President Buhari Names Those Responsible For Drop In Oil Revenue

President Buhari has named those responsible for the drop in Oil Revenue.

 

Newsonline reports that President Muhammadu Buhari has blamed the fall of revenue in oil production on the insurgency in the South-South and Northeast perpetuated by the militants and Boko Haram when he assumed office.

 

Although the President expressed happiness that his administration has been able to deal with the menace, he regretted that those who were supposed to talk about the problems facing the country failed to do so.

 

Buhari, who stated this on Tuesday during his official visit to Imo State to commission the Owerri/Okigwe, Orlu/Owerri roads and the State House of Assembly complex, also applauded Governor Hope Uzodimma, especially on the massive road projects in the State.

He promised that his administration will continue to support the State to get more dividends of democracy.

 

“If Nigeria will recollect since 1999 and 2015 when we came, I like people to check, OPEC projection was 2.1 million barrel per day of every cost of hundred American dollar per barrel,so Nigeria was earning for this time 2.1 million times 100 times a number of this production.

 

“But look at the State of infrastructure, look at the railways it was virtually killed,power,we are still struggling, when we came it was unfortunate,the militant in the South south were unleashed , the production went down to half a million barrel per day and again it’s unfortunate the cost of petroleum went down to half a million dollar per day.

 

” Again unfortunate cost of petroleum went down from 28 to 27 dollars,looking at the problem in the northeast, ask any body from Borno or Adamawa how many local government were in the hand of Boko Haram,very fraudulent people, but now go and ask the hardworking governor of Borno, How many local governments in their hand now the government is in charge now.

“For relative time and resources, this administration has done extremely well,I have to say it because those who are supposed to say it are not saying it, I don’t know why.”

 

The President also urged elite in the country to join forces with his administration to tackle insurgency, banditry and other security challenges which he said hamper even development.

He commended Uzodinma for his laudable achievements in the State “even with the limited resources available to state government.”