In a startling revelation made during the book launch of 'Court and Politics' by Dr. Umar Ardo, former President Olusegun Obasanjo declared that more than 80% of Nigeria's crude oil is being stolen, attributing this to the nation's economic struggles.
Represented by former Niger State governor Babangida Aliyu, Obasanjo emphasized that the inability to account for oil production due to theft has significantly impacted Nigeria's economy. He highlighted that while the crude oil quota is around two million barrels per day, over 1.7 million are stolen.
Meanwhile, former Northern Elders Forum Chairman Prof. Ango Abdullahi condemned the leadership's failure, urging a return to the drawing board for the country's rescue.
Abdullahi particularly criticized the struggle to generate a mere 4,000 megawatts of power for a population exceeding 200 million, stressing the urgency to acknowledge and rectify failures
