Nigeria’s Vice
President Yemi Osinbajo has revealed that Nigeria has been losing one
million barrel of crude oil on daily basis for the past six months.
The vice president who is head of the
economic team of the Buhari-led administration made the announcement on
Tuesday, September 6, 2016 while receiving a delegation of the Northern
States Pentecostal Bishops Forum in his office at the Presidential Villa
in Abuja.
The statement which was signed by Laolu Akande, Osinbajo’s spokesperson read:
“In addition to the massive fall in oil
prices, the VP stated that the vandalism of pipelines had led to a
worsening of the situation with the country losing about one million
barrels of oil per day for up to six months now. The vandalism has
equally cut power supply short since gas pipelines were also destroyed.”
Professor Osinbajo explained that the
loss of crude oil in Nigeria on daily basis is a result of pipe
vandalizing practices, adding that no country would be able to survive
the amount of theft going on within the country.
He blamed the theft practices in the country for the present economic situation.
However, he expressed enthusiasm when he spoke about hope for Nigeria: “There is great hope that this country will prosper.”
“This country has been badly governed.
We are dealing, for instance, with the embezzlement of funds to the tune
of $15 billion in one sector alone.”
He also blamed the past administration
for Nigeria’s economic woes, saying that the country’s currency
depreciated because they were n savings when oil boomed.
He also revealed that the GDP released
recently which certified Nigeria in a recession, showed the country was
prospering In the agricultural and solid mineral sectors, assuring
Nigerians that soon kick-start the 500,000 jobs scheme earlier promised.
Osinbajo also instructed security
agencies, in response to Archbishop Daniel’s appeal that the federal
government brings violent herdsmen to book, that they arrest and
prosecute anyone, regardless of status, who carried weapons and
perpetrated the law.
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