President Muhammad Buhari has hit out in a recent gathering blaming the crisis in the oil sector as a the reason for the doom facing the Nigerian Economy. 'Nigeria have been hit by the misfortune of the oil industry, but other countries have been hit harder' the President added while speaking at the inaugurating the governing body of the three parastatals of the Federal Ministry of Petroleum Resources: The Nigerian National Petroleum Commission (NNPC), Nigerian Content Development Monitoring Board and the Nigeria Nuclear Regulatory Authority at the Presidential Villa in FCT, Abuja.
All these boards have the Minister of Petroleum Resources Ibe Kachukwu as their Chairman.
This statement by the President has countered the popular opinion that the reason Nigeria is in recession is because the past Goodluck Jonathan led administration was 'Highly Corrupt'.
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