NLC Boss Tasks Buhari On Oil-Sector Fraud

The newly elected Presi
dent of Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, says it is an irony and a situation that calls for serious concern that Nigeria does not have the capacity to refine kerosene, Petrol and diesel as well as associated products to meet the peoples’ domestic needs.
Wabba who expressed this worry in a press interview recently said the situation had become a major setback to the economic development of the nation and charged the newly elected president, Gen. Muhammadu Buhari, to use his new position to rescue the nation from the mess.
“I think we are blessed because he has the experience and I think to a large extent, he also understands the problems because he had been a Petroleum Minister.  He has the working knowledge of our major source of income, the Petroleum industry”, Wabba said.
The NLC President attributed the poor state of things in the petroleum industry to fraud in the system and the inability of the leadership to summon the will to stop the trend.
“You remember the subsidy regime issues where a lot of funds in billions actually went down the drain and nobody account for them”, he said.
He noted that for the incoming administration led by Buhari to successfully address the shameful situation, he must first tackle the issue of corruption and urgently ensure that the existing refineries are working as well as build new modern ones within the next two years.
According to Wabba, this will reduce the excess pressure on the foreign exchange because the major user of foreign exchange is the importation of finished products.
“We are also exporting our jobs to other countries because we are not refining in Nigeria, it means we are creating jobs and then the chain of benefits continues”, said the NLC boss.
The step he explained would not only make the product available, it would also force down the price of the refined products and several associated ones which sustain the nation, and cited Venezuela, an oil-producing nation that is at same position with Nigeria, but pointed out that Venezuela is able to produce for domestic needs.
He stressed the need for the new government to assemble the best brains and professionals to tackle the daunting challenges in the economy and in all spheres of development.
“He should look beyond his immediate constituency, that’s his party.  He should look for people who can deliver because part of the problems of the present administration is the fact that some key officers in various places were not able to make the impact expected”, Wabba stated.

Chris Oluoh