In a recent skit trending on the X platform, skit maker Dan Bello aims to misinform the public and vilify Oando and the Presidency.
This misinformation campaign appears effective in the North, painting President Tinubu as responsible for looting crude oil and contributing to the region’s hunger and insecurity.
This deceptive narrative resembles the misinformation that plagued former President Goodluck Jonathan, who faced similar accusations and ultimately lost his position. The current administration must learn from Jonathan’s experience. President Tinubu should act swiftly to remove inefficient leaders in the oil and gas sector, such as Mele Kyari, Farouk Ahmed, and others appointed during Buhari’s tenure. Their continued presence undermines the nation’s interests and security.
As of May 2015, when Buhari took office, Nigeria’s annual crude oil production was around 839.5 million to 900 million barrels. At that time, insecurity was mainly confined to the North East and parts of the North Central. However, by the time Buhari handed over to President Tinubu in May 2023, insecurity had spread nationwide despite $27 billion spent on security. Crude oil output also dropped to less than 360 million barrels annually.
Promises by NNPC’s leadership, including Kyari, to have the refineries operational by May 2023 have not been met. Furthermore, Kyari admitted in 2021 that Nigeria loses $1.9 billion worth of crude oil monthly to theft and inefficiencies.
Dan Bello’s skit perpetuates the false claim that the Oando Agip’s 11 million barrels per annum production is why Nigeria lacks dollar revenues or crude oil for Dangote Refinery. This is manipulation aimed at destabilizing the government, similar to tactics used against Jonathan. The 11 million barrels represent only 1.2% of the crude oil production Buhari inherited, and just 4.6% of the annual crude oil needs of the Dangote Refinery.
The real issue is the alleged use of over 250 million barrels of crude oil to secure loans worth over $14 billion from 2019 to date. The incompetence and corruption within the current leadership at NNPC, NMPDRA, and the Petroleum Ministry further exacerbate the sector’s problems.
Ultimately, President Tinubu must recognize that retaining ineffective leaders, regardless of political interests, could cost him his presidency, just as it did Jonathan. He must act decisively, as Cardoso did with the CBN, to clean up the leadership and bring in competent, honest, and patriotic Nigerians to manage these critical institutions.
Setting the record straight is crucial, and this article aims to do just that.
OBIARAERI, Nnaemeka Onyeka
