President does not have to hold the position of Minister of Petroleum – Sanusi

Nigeria’s president need not hold the position of minister of petroleum, according to veteran politician and former finance minister Chief Olu Falae, although it is crucial to choose a minister to manage the ministry.

His stance is in line with that of former governor of the central bank Sanusi Lamido Sanusi, who previously stated that the president should not serve as the minister of petroleum. Sanusi Lamido Sanusi believed that having a minister of petroleum would allow for accountability in the event that something went wrong.

During his tenure, former President Muhammadu Buhari held the office, with Bola Tinubu, the current leader, following suit. However, the statesman contended that a minister, not the president, should be in control of the petroleum ministry.

“I think that every significant topic in government, including petroleum, needs a minister. On Thursday’s episode of Politics Today on Channels Television, he stated, “But I know that petroleum is so important to the finances of government that no president has been able to take his hands off petroleum completely.”

“No President has been able to take his hands off petroleum because it is so important. Not Babangida because we had a Minister for Petroleum, not Obasanjo because we had a Minister for Petroleum, but Buhari.”

But fundamentally, I believe that in order for the president of Nigeria to be held accountable, it is critical and imperative to have a man of integrity named a minister to oversee the petroleum sector.

“I believe having a minister of petroleum is beneficial for us. Falae stated, “All ministers answer to the president, but the president need not be the petroleum minister.”

“Politics Will Get Involved”

In addition, the previous contender for president advocated for the Federal Government to fix Nigeria’s crude oil refineries and sell them to private companies for more efficient management.

“I think that when we are able to repair and recommission our refineries and sell to companies that know how to run refineries, Nigeria’s problem with fuel and its price will be substantially resolved,” he continued.

“We shouldn’t attempt to handle them ourselves because politics will get involved and we won’t be able to do them well. I regret having to say this.