Why Nigeria’s Economy Has Remained In Ruins-Olusegun Obasanjo

Former President, Chief Olusegun Obasanjo is a repository of knowledge, especially when it has to do with Nigeria’s political and economic life.

As a result, when he speaks, he should know what he is saying.

He has thus stated reason why the Nigerian economy has remained in ruins.

Obasanjo stated the reasons 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 .

The Ogun State-born statesman, declared that unlike Nigeria that other oil-producing countries have records of their oil production activities, and this has made a difference in their accountability.

In the case of Nigeria, he said over 80 per cent of its Nigeria’s crude oil were stolen, and that while the crude oil quota is about two million barrels per day, over 1.7 million are stolen.

He did not however see this failure on accountability to be a fallout of the political system being operated by the country, hence he did not support Nigeria going back to the parliamentary system.

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Things, he said would go well, should Nigerians learn to play by the rules.

Chief Olusegun Obasanjo has remained a regular voice in the affairs of the nation, usually saying things the way he views them irrespective of opposing views.