The lid was this morning lifted
on one of Nigeria’s best kept secrets: How the
country’s successive presidents spend crude oil
revenues at will and without accounting to
anyone.
A former insider at the Aso Rock Presidential Villa
in Abuja said that all it takes for a sitting President
to get any amount he wants from the Nigerian
National Petroleum Corporation (NNPC) is to
summon the corporation’s Group Managing
Director (GMD) and ask him to go and bring the
needed sum.
According to Olusegun Adeniyi, who functioned
as Special Adviser on Communications to late
President Umaru Musa Yar’Adua, “If there is crisis
in any state of the federation and there is need to
mobilize resources for security agencies, the next
thing you hear from whoever is the president of
Nigeria is ‘call me the GMD’. If a leader of one of
the ECOWAS countries visited and was
genuflecting before our president about how
rough things were for his country (and may be
later behind closed doors, for himself), the instant
instruction would be, ‘call me the GMD’. And I am
aware that for several years (may be even now),
the activities of the military Joint Task Force (JTF)
were solely funded by the NNPC.”
Mr. Adeniyi, who made the disclosure in ‘The
Verdict’, his weekly column in ThisDay
newspaper, said that “the problem of the NNPC
predates President Jonathan though most critical
observers believe that things have in recent time
gone haywire.”
As he sees it, “Given such a situation, how would
the Federation Account that is essentially
dependent on oil revenues but is jointly owned by
the federal government, states and local
governments balance?”

SOURCE: http://247nigerianewsupdate.com/exposed-how-nigerian-presidents-loot-oil-revenue-through-nnpc/

This is not news. This business as usual
And Nigerians are comfortable with it.

Stale news. GEJ is getting to that.
PHCN is done, Refineries are next, NNPC is coming afterwards.
Its called Fresh Air.