President Muhammadu Buhari has blamed the drop in oil revenue on the activities of insurgency in the country.
According to Buhari, Boko Haram in the North East and unknown gunmen in the South East are preventing the country from reaching its full potential as an oil-producing nation.
The President said this while speaking at a stakeholders’ meeting in Owerri, the Imo State capital, shortly after inaugurating projects executed by Governor Hope Uzodimma.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
Buhari, however, expressed optimism that his administration had dealt with insurgency to a good extent, while expressing regrets that numerous prominent Nigerians were aiding the menace.
He said;
“If Nigerians would recollect, between 1999 and 2015 when we came, I like people to check; OPEC projection was 2.1 million barrels per day at $100 per barrel.
“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 militants in the South South were unleashed.
“The production went down to half a million barrels per day and again it’s unfortunate the cost of petroleum went down by half.
“Again, unfortunately, the cost of petroleum went down from $28 to $27. Looking at the problem in the North East, ask anybody from Borno or Adamawa how many local governments were in the hands of Boko Haram—very fraudulent people.
“But now go and ask the hardworking governor of Borno how many local governments are in their hands now that the government is in charge.
“For relative peace 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.
“My administration is addressing infrastructure and security in Nigeria when compared with what we used to have from 1999 till 2015 when we took over.”
The president said the sustained efforts by the military had seriously eroded the capacity of insurgents to hold the country to ransom.
On his part, the President General of Ohanaeze Ndigbo, Prof George Obiozor, listed insecurity and infrastructural decay as the two major menaces affecting the South East region.
Prof Obiozor appealed to the federal government to address the issues without any further delay.
