Eventful In Partnership with FirstBankPresident Muhammadu Buhari, has pointed an accused finger at the past administrations (since he left the office as military head of state) as the cause of the collapsed infrastructure in the oil sector, paving way to their allies to steal by importing refined products.
Buhari made this accusation yesterday, in a meeting with the Chairman and members of the Revenue Mobilisation, Allocation and Fiscal Commission, RMAFC. He said “the current situation in which Nigeria is forced to spend billions of Naira annually on alleged subsidies for petroleum products.”
An extract from statement signed by the Senior Special Assistant to President Buhari on Media and Publicity, Mallam Garba Shehu, said “the escalation of petroleum subsidy payments over recent years was due to the deliberate neglect of the nation’s refineries, oil pipelines and other related infrastructure to allow the importation of petroleum products and corruption to thrive.”
According to the statement, the President restated expressed his disappointment with the way Nigeria’s oil industry has been handled since he left office as Petroleum Minister and Military Head of State, pointing that he was convinced that if domestic refining capacity and petroleum products distribution network have been developed along with the pace of national demand, there would not have been any need for the huge subsidies currently being paid to importers.
“They allowed the infrastructure to collapse so that their cronies can steal by bringing in refined products from overseas,” President Buhari said.
He, however, directed the chairman and members of RMAFC, to go “back to the drawing board.”