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I achieved much with low oil prices – Buhari

I achieved much with low oil prices - Buhari


The President of Nigeria, Major General Muhammadu Buhari (rtd.), has stated that his administration has been able to achieve much, in terms of infrastructural development, despite the low price of oil exportation and low oil production.

The President stated this during the presidential lunch, organised for him by the Kano State government during his one-day official visit to the state on Monday.

Buhari noted that taking a critical analysis of the governance in the country between 1999-2019 when there was a high price of oil exportation and high amount of oil production but those people in government were unable to achieve much with the opportunity they have, and that there is low price in oil exportation and low volume of oil production, his government has been able to do much.

While explaining further, Buhari stated that between the said years, oil price was $100 per barrel and the country was producing 2.1 million barrels of crude oil per day but today, it dropped down to about 37 dollars per barrel and we are only producing 1.5 million barrels per day and despite all these visible challenges, we are still able to put infrastructures in place, while those government then could not account for what they did with our money.

He said, “I want you to recall that between 1999-2019, 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 infrastructures.

“Looking at what we have been able to do. I assure you that, we have a wonderful country.”

While noting that his administration has been able to do much in security, the President stated that he has dealt seriously with Boko Haram, noting that he suspected there was an international group that wanted to destroy the country but he has been able to pull them back.

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.”

While appreciating Nigerians for the support they have shown him, Mr President noted that they identified with him and he identified with them as well.

In his words, he said, “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.”

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