Business Nigeria Loses Crude Oil Worth N3.1tr Every Year - Osinbajo

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Nigeria- Prof. Yemi Osinbajo, vice presidential candidate of the All Progressives Congress (APC) in this year’s election has said that Nigeria loses an average of N3.1trillion worth of crude oil to graft annually, according to Leadership.

Speaking in Uyo, Akwa Ibom State yesterday during the presentation of the APC’s 2015 manifesto on Securing Nigeria’s Future during the APC’s Youth Interactive Town Hall Meeting, Osinbajo said that the level of corruption in Nigeria is too high, adding that no country can survive under the current rate of stealing in the country.

Osinbajo, who said that the federal government itself has confirmed that over 400,000 barrels of oil are stolen everyday, explained that Nigeria’s problem is not lack of resources but corruption and stealing.

He said, “The government of today has tried to give the impression that the problem of the country is that of falling oil prices, which is now below $50 per barrel but that is not the problem. The problem is the corruption and stealing”.

“Nigeria’s problem is not resources but management of resources is our main problem. We must put in place a responsible government who will hold those managing the country’s resources accountable.”

#Nigeria #Osinbajo

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