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President Muhammadu Buhari on Tuesday accused past administrations of allowing the infrastructure in the oil sector to collapse to enable their cronies steal by importing refined products, Punch reports.
The President, who made the accusation while speaking at a meeting with the Chairman and members of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) lamented the current situation in which Nigeria is forced to spend billions of Naira annually on alleged subsidies for petroleum products.
A statement signed by the Senior Special Assistant to President Buhari on Media and Publicity, Garba Shehu, quoted the President as saying that “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.”
The President restated his huge disappointment with the way Nigeria’s oil industry has been run since he left office as Petroleum Minister and Military Head of State.
He said the increase in petroleum subsidy payments over the years was due to the deliberate neglect of the nation’s refineries as well as oil pipelines and other infrastructure in the oil sector in order to allow the importation of petroleum products and corruption to thrive.
