Oshiomhole accuses FG of mismanaging resources

Edo State Governor Adams Oshiomhole

The Edo State Governor, Adams Oshiomhole, on Wednesday said that the inability of the Federal Government to share the Excess Crude Account in the last 18 months had disrupted the developmental strategies of the state governments.

Oshiomhole, who spoke during a courtesy visit by the Association of Enigies from Edo South, also accused the Federal Government of mismanaging the nation’s natural resources and creating hardship for the masses.

“Over the past 18 months, we have not shared the Excess Crude Account and yet, the account is empty. Sometimes, we are told they have taken money from it to fund subsidies, including subsidy on kerosene.

“But your royal highnesses, there is nowhere in your various domains where kerosene is sold for N50. So, in the name of subsidy, large sums of money are being stolen.

“Things are tough now in the country because the Federal Government mismanaged our national resources and what is being stolen; nobody agrees it is being stolen. What is arguable is: who is responsible for this stealing.

“When the Federal Government and the President talk about oil theft and the amount that is allegedly stolen, it is huge that we have the capacity to produce about 2.4 million barrels a day. But what accrues into the Federal Government account is less than 1.8 million barrels a day,” he said.

The governor stated that it was worrisome that in spite of addressing the issue of militancy, the government at the centre was yet to provide adequate security over its territorial waters against oil thieves.

Oshiomhole stated further that the Nigeria’s budgets had not performed over the past three years, noting that the naira was undergoing devaluation due to poor savings culture of the Federal Government, even when the price of oil had dropped to $60.

He said, “Already as low as N180 per dollar and I believe by February, when the elections are over, nobody will want to hold the naira. Wherever the election goes, I expect that the naira will hit over N200 per dollar.

“I see this vicious cycle setting in and people are likely to get poorer and that will lead to more tension and we already have our fair share of insecurity.”

On the ongoing projects in the state, Oshiomhole disclosed that the Central Hospital Complex would be completed and ready for use in August 2015.

He also noted that 16 roads had been identified at the General Residential Area for immediate rehabilitation and would be “completely fixed” in the first half of next year.