Former President Olusegun Obasanjo says Nigeria’s economy is in ruins because over 80 per cent of the country’s crude oil were stolen.
Obasanjo said this in Abuja at the launching of a book titled, ‘Court and Politics,’ written by Dr. Umar Ardo, a former associate of the ex-Vice President, Atiku Abubakar.
He said one of the reasons why Nigeria’s economy is in ruins is that while other oil-producing countries have records of their oil production, Nigeria cannot account for hers due to theft.
Obasanjo, who was represented by a former governor of Niger State, Babangida Aliyu, said crude oil theft is one of reasons the Nigerian economy would be in ruins.
The former president said while the crude oil quota is about two million barrels per day, over 1.7 million are stolen.
On whether Nigeria should go back to the parliamentary system, Obasanjo said there is nothing wrong with the presidential system, only that, according to him, Nigerians do not play by the rules.
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