Yemisi Izuora/Ijeoma Agudosi
Indication is rife that Nigerian president, Muhammadu Buhari is planning to hold on to oil ministry, combining the country’s two most powerful posts
A spokesman says Nigerian President Muhammadu Buhari, who has promised to fight corruption in the oil industry, plans to be the Cabinet minister in charge of the oil sector, AP reports.
Nigeria is Africa’s biggest petroleum producer, with revenues providing 80 percent of government income.
Buhari has said some $150 billion has been stolen from the treasury in 10 years.
Analyst Malte Liewerscheidt of risk consultancy Verisk Maplecroft said Buhari’s move would give him maximum power to reform the oil and gas industry but warned that it is a “high-risk strategy” that links his fate as president with successful reform.
Garba Shehu, a spokesman for Buhari, confirmed Wednesday that Buhari will put his name forward as petroleum minister on a long-awaited Cabinet list to be presented for Parliament’s approval this week.