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Tuesday, 31 January 2023 06:25

Buhari says he has built infrastructure despite low oil prices

Nigeria’s President Muhammadu Buhari says he has built infrastructure despite low oil prices and low production volumes.
Buhari disclosed this on Monday during the Presidential Lunch organised for him by the Kano State government for his one-day official visit.
The President added that his administration has done a remarkable job if one looks at what they have accomplished.
Job well done: Buhari revealed that from 1999 -2019, Nigeria earned high crude prices but was not able to build much infrastructure with it, stating that Nigeria was earning 100 dollars per barrel and producing  2.1 million barrels per day.
He added that those in charge in those years were going around not only Nigeria but the world, saying they were wonderful but they could not explain what they had done.
  • “I want you to recall that between 1999 and 2019,  NNPC production was 2.1 billion barrels a day at the cost of 100 dollars per barrel.”
  • “The cost of petroleum today has gone down to about 37 dollars per barrel which only 1.5 million barrels are produced and yet we have put in place a lot of infrastructure.
  • ” Looking at what we have been able to do. I assure you that we have a wonderful country.

Insecurity: He added his administration has also dealt with Boko Haram, revealing that he suspected there was an international group that wanted to destroy Nigeria, he added:

  • ” When we came to power in 2015, Boko Haram was in total control in 13 of the 17 Local Government Areas of Borno State as only four were in control of the government then.
  • “They have come to stop us from tapping our development from lake Chad.
  • “But we have managed to show Nigerians and the rest of the world that we have so many natural resources there.”
  • ” We have to pray harder and thank God, we’ll fight for our land from the international groups that are trying to destroy Nigeria.

He added he is happy that Nigerians have shown me support as they identified with him and he identified with them.

  • ” I have been a governor, I have been a minister and I have been a Head of State, fought in the civil war.
  • “We have to thank God with what we have in the country today.”

In case you missed it

Nigeria recorded the highest crude oil production rate in Africa last month, according to the latest monthly oil market report by the Organization of Petroleum Exporting Countries (OPEC).

Nigeria produced 1,235 million barrels per day, higher than the 1,186 million barrels per day it produced in November 2022.

Based on the data, Angola took second place at 1,088 million barrels per day while Algeria took third place with 1,099 million barrels per day.


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