A legal luminary and Second Republic Justice Minister, Chief Richard Akinjide, SAN, has said that Nigeria's economy is in the hands of the foreigners, hence its leadership is lacking the power to control the oil resources.
Akinjide, who spoke in a lecture, “Nigeria beyond oil” packaged by the Nigeria Union of Journalists (NUJ), Oyo state council, also regretted that notwithstanding the abundance of oil resources in the land, Nigeria still has no control over its resources.
The former minister said: "Nigeria knows little or nothing about oil and gas. By now, all our universities should have departments in oil and gas. If you have oil and gas and you do not control it, your economy is not in your hand. Nigeria’s economy is in the hands of foreigners.
"The price of oil and gas now dictates the state of our economy. There is oil and gas in Lake Chad. They now produce what they need and they do not rely on us. They supply oil and gas to the foreign countries and I will not be surprised if our own part of Lake Chad can produce plenty of oil and gas.
"As regards oil and gas, Nigeria is in a hole and we continue digging. Angola is making better use of their oil and gas than Nigeria but I hope they will not make the mistakes of Nigeria," he noted.
He went further to reveal that Nigeria's oil and gas does not belong to Nigerians because the country collects rents on it.
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