Oil and Politics: Nigerian president Buhari expected to takeover Oil Ministry

Nigerian President Muhammadu Buhari

Nigerian President Muhammadu Buhari

Newly elected president of Nigeria Muhammadu Buhari is expected to appoint himself as head of the  Oil Ministry reportedly over the massive corruption in the industry sources have said.

As the nation eagerly awaits for the new cabinet, a source in Nigeria told reuters that the oil sector is so dirty that nobody’s hands are clean enough to do the “surgical changes” needed to revamp the Oil industry from massive graft.

The government of Nigeria depends on oil and gas industry for a larger part of its revenues but according to analysists, there has been little oversight on how the proceeds from the sector are handled.

The central bank governor under outgoing President Goodluck Jonathan Lamido Sanusi was sacked  after he declared that $20 billion in oil revenues were missing between 2012 and 2013.

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