Why is President Buhari the Minister of Petroleum?

Shock waves trailed the announcement by President Muhammadu Buhari in 2015 that he was assuming the role of Minister in his own cabinet.

After successfully defeating incumbent, President Jonathan in the 2015 general elections, the President, while he formed his cabinet expressed his interest in keeping the portfolio of Minister of Petroleum to himself.

His decision was unprecedented. It was the first time a seating president will hold an appointment in his own cabinet.

As predicted the international press lashed on to the reportage, describing the country with all sorts of names.

Five years down the line, the president still maintains his portfolio as the Minister of Petroleum. Only Nigerians can tell if he has been successful.

While he was criticized for the move, the President said he was taking charge of the ministry to curb the rising corruption that bedeviled the ministry in the previous administration.

He promised to fight the corrupt practices of the largest opposition party, the Peoples Democratic Congress (PDP). He made it clear after assuming the day-to-day responsibility of the ministry that he wants to overhaul the oil sector.

That sector provides the government with about 70% of its revenue.

At the time of taking charge, the collapse in global oil prices had damaged Nigeria’s public finances and weakened its naira currency, delaying public salaries and fuelling inflation, The Guardia said.

Buhari has said he would trace and recover what he has called “mind-boggling” sums of money stolen over the years from the oil sector.

Buhari, a former military ruler is reported to have deep knowledge of the oil sector, having been head of the petroleum trust fund under the military ruler, Sani Abacha, in the 1990s and oil minister in the 1970s under president Olusegun Obasanjo, The Guardian reports.