Home News Why Most Politicians Oppose Restructuring Of Nigeria – Atiku Abubakar

Why Most Politicians Oppose Restructuring Of Nigeria – Atiku Abubakar

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Former Vice-President, Atiku Abubakar, has said that the addiction of some politicians to oil revenues is the main reason some politicians are against the restructuring of the country.

He stated this while delivering a public lecture at the Obafemi Awolowo University, Ile-Ife.

Abubakar said the current structure of the country has fostered dependence on revenues derived mainly from the Niger-Delta region and has impeded the development of the country, explaining that regional gatherings are usually about grievances and how to get more from the central pool of resources but hardly about how to produce and contribute to increasing those resources.

He urged political elites to make a paradigm shift from the mindset of oil economy stressing that it was responsible for the excessive centralization and concentration of power and resources, and intense political competition, and political instability.

He said: “We have become so accustomed to the current structure and addicted to oil money that even the most reasonable among us still cling to a belief that what we currently have is the most beneficial and is immutable.

“Nothing can be further from the truth. This is a federal system that has fostered dependence on revenues derived mainly from three states and is characterized by excessive centralization and concentration of power and resources, and intense political competition, and political instability.

“Today regional gatherings are usually about grievances and how to get more from the central pool of resources but hardly about how to produce and contribute to increasing those resources

“We should proceed from the assumption that the oil economy, which underwrote our profligate, unsustainable and unstable federal structure, has reached its peak.

“New technologies of oil production, especially horizontal drilling and hydraulic fracturing (also known as fracking) have helped to produce a glut in the world oil market. They have also helped to move the United States towards becoming the world’s top oil producer.

“This partly explains why US import of Nigerian oil has declined from 50% a few years ago to almost zero today.”

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