Buhari laments mismanagement of Nigeria’s oil wealth

Buhari in France

President Muhammadu Buhari on Tuesday lamented Nigeria’s management of its oil wealth, saying it was regrettable that the country could not produce enough refined petroleum products for its domestic use.

Mr. Buhari stated this during his two-day official visit to Ogun State. He expressed regret that the country’s oil wealth was fast declining.

“I appreciate President Obasanjo for making me the Minister of Petroleum. For three years, he tolerated me. During that period we built Warri and Kaduna refineries. We laid so many pipelines and then we were exporting refined petroleum products. But what do we have today? I want to stop here,” Mr. Buhari said.

The president commended the Ogun State Governor, Ibikunle Amosun, for his administration’s effort in building infrastructure for the state.

Earlier in the day, Mr. Buhari commissioned projects in the state capital, Abeokuta, to mark the 40th year anniversary of the state’s creation.

The government had declared a work-free day, as thousands of residents lined the streets through which the president’s motorcade drove, chanting “sai Buhari! Sai baba! Sai Buhari!”

Some of the projects inaugurated by Mr. Buhari include the Ultra-Modern Market, Omida; Olufunmilayo Ransome-Kuti Flyover, Itoku; and the Ultra-Modern Market, Sapon, Abeokuta.

He also performed the ground-breaking ceremony of the Judiciary Complex, and inaugurated the Femi and Dotun Oyewole Model School, and the Muhammadu Buhari Estate—all at Kobape.

After the commissioning, the president attended a luncheon organised by the state government. He was joined by the national chairman of the ruling All Progressives Congress,  John Oyegun; the Minister of Finance, Kemi Adeosun; the Minister of Information, Lai Mohammed and others.

Also in attendance were the governors of Oyo and Osun States, Abiola Ajimobi and Rauf Aregbesola respectively, former President Olusegun Obasanjo and his wife, Bola; former head of the defunct Interim National Government, Ernest Shonekan; wife of the Vice President, Dolapo Osinbajo; the Olu of Ilaro and paramount ruler of Yewaland,  Kehinde Olugbenle; the Alake and paramount ruler of Egbaland, Oba Adedotun  Gbadebo; Osile of Oke-Ona, Adedapo Tejuoso; Olowu of Owu,  Adegboyega Dosunmu; Akarigbo and paramount ruler of Remoland, Michael Adeniyi Soariwo; Awujale and Paramount ruler of Ijebuland Sikiru  Adetona.

Also present at the luncheon were musicians actors and actresses from the state, inlcuding Olu Jacob, Ebenezer Obey-Fabiyi; Apala musician, Musiliu Haruna Ishola and Juju icon, Sir Shina Peters.

The anniversary special recognition award was given to Biyi Afonja, former INEC Commissioner for Lagos and Rivers State,  Yetunde Gbadebo; Kessington Adebutu,and Wole Soyinka, who was  conferred in absentia.

Mr. Obasanjo was given the “Icon of all Time” award by the state government.

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  • Truth Deficiency Syndrome


    WARNING: The National Assembly must address the threatening issue of Buhari’s incompetence without further delay or Nigeria will sink!

    The malicious, deliberate and intentional use of excuses, lies, outright falsehood, propaganda, frivolous foreign trips, and a so called war against corruption … to mask Buhari’s incompetence is nothing but deadly political Ebola

    Be it known to all men …. Buhari is suffering from “Truth Deficiency Syndrome” complicated by acute incompetence …. and there is no cure!

    • signs of being the “enimies within”

    • tundemash

      Another hopeless one from despair street. Keep wailing.

      • Otile

        Abubakar tundemash, are you going to follow your duncee master to his grave. Stop insulting everybody to please your duncee master.

  • The facts

    ‘Icon of all time’ lol! Nigerians with bogus awards.



    Both Cameron and Obama inherited depleted and ravaged economies yet they got down to work and sorted things out but here we have a President who keeps whining instead of concentrating on his job. The lack of ideas is now glaring and it is clear that despite having had enough time to prepare for leadership,the man has nothing new to offer……..

    • Julius

      Tawanda, Obama is still complaining about what Bush left behind, what he inherited from the Bush Administration, Hilarry Clinton is running on it as we speak. I know you dont know that. This is after 7 plus years. Buhari just took over less than a year ago.Obama didnt complete his administration for more than a year. Im explaining all these to you because you brought Obama with your comment. LIke I always tell you, try to know what you are talking about before you make a comment. By the way, Bush left a better condition for Obama than what the thief Jonathan left for Buhari.

    • tundemash

      Dunce which Nigerians are you speaking on their behalf ?
      And what are u doing here coward when your mates are busy preparing for your one million-man march ????

    • Otile

      Some idiot_will retort that Obama and Hilary are lamenting the Bush economic pitfalls but he is too dunce to know that despite those shortcomings Obama has achieved more than any other president in recent memory. Under Obama America has been moving at an exponential speed while their Duncee master has irreversibly set Nigeria back.

  • wode

    @PT, I think this part “…to mark the 40th year anniversary of the state’s creation.” needs little editorial touch. It should be “…to mark the 40th anniversary of the state’s creation.”

  • Barnabas Ebuga

    We should continue pray for our leaders good thing are coming ahead.

    • Loser and wimpy fools, or like you must of us have no imaginary back up country so we want this one to work and we wishes her well

  • Heroes_Nigeria


    Nigerians are now coming to terms with the fact that Buhari does not know what to do to move Nigeria forward.

    Most of Buhari’s supporters are panicking and shamed …. while some are making frantic efforts to avoid the huge embarrassment that Buhari’s incompetence is bringing to them.

    Just the other day Prince Bola Ajibola stepped forward to teach Buhari elementary lessons in governance … he advised Buhari to form two committees … one for governance and the other for corruption.

    This was just Prince Bola Ajibola’s way of telling Nigerians that Buhari does not know what to do

    • tundemash

      Ole Fani Kayode, Buhari listed the refineries he built 3 years , tell us how many refineries your rogues built in 16 years ?

      • Damilola

        Point of correction… “The refineries he oversaw”. A minister in a cabinet does not execute projects, he/she simply supervise. Why you guys keep using different measure for this man I don’t fathom. Now you can ask ursef. How many of those refineries were working by the time he came in as HoS and what capacity?… when he resumed as PTF chairman, at what capacity were they working? When exactly did we start total importation of our oil consumption? Those questions if u’re really sincere with urself and all you want is see this country function well, will give u an incite. Ignorance is not an excuse, these people will continue milking us with their divisive tactics till we wise up.

        • tundemash

          What a cl0wn you are to say “Point of correction… “The refineries he oversaw”. A minister in a cabinet does not execute projects, he/she simply supervise.”
          So the workers just go onsite and start building refineries ?

          And you were probably a kid in 1983, all the refineries were working as at 1985 when IBB took over. Between 1983 and 1985, Buhari used batter augment the shortfall in local consumption; the oil majors take crude and bring refined products into Nigeria hence nothing like subsidy. IBB introduced subsidy to bribe the politicians and “militricians”.
          Kid, go ask those who were old enough between 1976 – 1987 and stop displaying amazing ignorance all over the pace.

          • Damilola

            You must have written ur own history book yourself. But why u just like ridiculing ursef? Do u even have shame at all? Listen to what ursef and a little of research/ knowledge b4 posting na, abah!!! How does it suit u to display ignorance always? How? Lot of questions just keep coming my mind when I saw ur message here, I felt really hopeless and helpless in ur retard thoughts, and I was like is this Tunde guy normal at all, serzly cos I can’t just fathom y u will always speak out reasoning. Read ur books well bro maybe u can get a clue on the conditions of the refineries till the present date. The moment you started talking about ministers executing projects, rather than the govt they represent which gives a lead, then I tot I shud just close my eyes at ur poopooped rhetoric, but u would av tot fly, like uve said something, so I av to take d pain to reply u. Serzly u need to build ursef more.

          • tundemash

            You are just a desperate drowning PDPig clawing at any straw.

            Your first jaundiced post was “How many of those refineries were working by the time he came in as HoS and what capacity?”
            And now it is no more about the number of refineries working but the rate hence u claimed “The refineries were working then no doubt, but at what rate?”

            Kid, once again, I put it to you that the refineries were working optimally and his govt. had to opt for barter exchange of crude oil with refined oil with the oil majors because demand had outgrown capacity.
            And dunce what has PTF got to with maintenance of refineries ? Was there no Minister of Petroleum under Abacha ? The more u type your nonsense the more u look stup1d! You are just all over the place with your haphazard thoughts, i doubt you are not under the influence of cheap drugs.

          • Awolo

            Moron, if the refineries were working optimally, why would any sane mind opt for that archaic economic medium of trade by barter, to bring in refined oil. To do what and for what purpose. Tundemess, I think you are neck deep in this Buhari misadventure not to realise that the old man has been deceived into accepting a much heavier load than he can carry.

            As Ayobamiba suggesgted above, “let Buhari honorably resign and allow Nigeria to progress. Buuhari can
            nominate a replacement who is capable with a youthful age and good
            academic prowess; all that patriotic Nigerians are concerned with is that
            this nation do not crash in Buharis weak hands. Buhari has brought an
            unprecedented bad luck to Nigeria, with much more lives of innocent
            Nigerians going down the drain untimely.”

          • tundemash

            You are a compound f00l, refineries have capacities and I thought i explained that in simple plain English to you earlier where i said “Kid, once again, I put it to you that the refineries were working optimally and his govt. had to opt for barter exchange of crude oil with refined oil with the oil majors because demand had outgrown capacity.

            Show us how many refineries Dumbo built and u are wailing. You can wail till eternity for all i care, it changes nothing; we are getting rid of those who looted your destiny whether you like it or not !

      • Otile

        Abubakar tundemash, can you not make any comment without insulting people? People like you are the reason Pakistan named a whole city Islamabad – Islam is bad. Islam has corrupted you totally.

  • Koku S.


    Muhamadu Buhari is selling a dummy. Nigerians should reject it. He’s praising himself as the best
    Petroleum Minister and laundering Olusegun Obasanjo to look less like a rogue amid missing funds
    in the national treasury traceable to his ignorant mis-governance. A good portion of the $150billion
    stolen from the treasury, as confirmed by official probes, is easily traceable to the shambolic
    Obasanjo regime of 1999 featuring boxing fights between Obasanjo and his deputy, ATIKU.

    Since October 1st 1960 about six military officers ruled Nigeria in turns and chose three
    dunderhead civilians just as interregnum. These six military officers are together solely
    responsible for the decline and fall of Nigeria. The least worst un-educated amongst
    them is Obasanjo – with Ordinary National Diploma (OND). It is amongst that criminal
    gang of six that Nigerians are being invited to choose the best. Nigerians must not
    choose any of these wretched six military generals – 90% of whom have no school
    certificate – because they are all beyond pale in incest, theft and gross immorality.

  • Damilola

    Mr. President, you shouldn’t have stopped there sir. You should have continued to enlighten us on the subsequent capacity of these refineries after u left as petroleum minister. Part of this epoch, I’m sure u will remember u were HoS, later you were among the strongest cabinet member of the Abacha Dragonia regime, which oversaw the complete tatters of our commonwealth. In this two strong capacities, you can as well tell us the production capacities of those Refineries you allegedly helped built. As far as we know, you were PTF chairman when Nigeria refineries collapsed abysmally. We were importing every litre of oil by then. That period saw the end of the already weakened refineries u claimed to help built, which was sequel to the ineptitudeness of the past administrations, which your were part of, before the Abacha regime. So who is to blame? You can’t set ur sef aside in this heinous clime sir, you’re part of it, now God has given u d third chance to redeem those woes. God help u sir

  • ayobamiba

    When obj took over from abdusalam in 1999,oil was $11 per barell,obj went out and built on what he met and left Nigeria better than he met the nation.buhari took over when the oil was $78 per barrel and 10 months into his sleepwalking presidency,all that buhari is busy doing is attending parties outside and inside Nigeria lamenting and throwing his hands in the air frustrated. Buhari tried unsuccessfully for 12 years to be President of Nigeria since 2003 ,until jegas PVC/card reader fraud imposed him on Nigeria. Does it mean that buhari all this years was just struggling and endangering the lives of his almajiri followers for nothing, didn’t buhari developed any blueprint to use ,honestly I am very very disappointed with an old man like buhari behaviour like a toddler. If pmb is overwhelmed by the demands of office may be because of his age,weakened bones,mind and intellectual capacity, let him honorably resign and allow Nigeria to progress.buhari can nominate a replacement who is capable with a youthful age and good academic prowess all that patriotic Nigerians are concerned with is that this nation do not crash in buharis weak hands.buhari has brought an unprecedented bad luck to Nigeria, with much more lives of innocent Nigerians going down the drain untimely. Economy crashing out heavily with the attendance hardship on citizens. Buhari is going about enjoying himself making thoughtless malicious species blackmailing every body except himself while the nation jega placed in his hands have turned bankrupt and citizens of Nigeria in unprecedented anguish, pain,sorrow and peril. May God deliver this nation from this self inflicted national calamity and disaster called change.

    • excel

      you show how insane you are. This is not campaign period, wait till 2018 before you start showing off your stupidity.

      • Awolo

        No it will be too late for the hapless Nigerians now in Buhari’s gulag, to wait till 2018. Now is definitely the time for action if there will be anything called Nigeria by the time Buhari and his band of plunderers are through in 2018.

  • Malchine

    —–later you guys can confer him with an award: GRAND LAMENTER OF NIGERIA. GLN. If this man was efficient, Babangida would not easily have overthrown him when Idiagbo was in Mecca. Contest that please.

  • Malchine

    Fellow Nigerians,

    When in December 1983, the former military leadership, headed by Major-General Muhammadu Buhari, assumed the reins of government, its accession was heralded in the history of this country. With the nation at the mercy of political misdirection and on the brink of economic collapse, a new sense of hope was created in the minds of every Nigerian.

    Since January 1984, however, we have witnessed a systematic denigration of that hope. It was stated then that mismanagement of political leadership and a general deterioration in the standard of living, which had subjected the common man to intolerable suffering, were the reasons for the intervention.

    Nigerians have since then been under a regime that continued with those trends. Events today indicate that most of the reasons which justified the military takeover of government from the civilians still persist.———–