Buhari laments mismanagement of Nigeria’s oil wealth

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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