Osun State Governor, Ogbeni  Rauf Aregbesola has faulted the federal government over  claims that the stolen 400,000 oil barrels per day since 2013 was responsible for the drop in revenues accruing to states and local governments by 40 percent.

Aregbesola who spoke at the celebration of life and book presentations of the Vice president of Nigeria Labour Congress Comrade Issa Obalowu Aremu during the week in Ilorin, stated that Nigeria has lost N1.2Trillion between the specified period, adding that, the indiscipline in the oil sector coupled with the madness in the Middle East are responsible for the depression in the oil market. Only God knows when and how this will stop”.

The governor recalled from August last year oil has been at its lower ebb till date. It sells below 50 dollars now. “I pray it would not be as low as 10 dollars; if that happens, Nigeria will be in such a dire situation that riding an Okada, as depressing and degrading as it is
will be a luxury.”

While reviewing the federal government oil theft claims, he said,”From July 2013, the Federal Government announced to Nigerians those 400,000 barrels of crude oil was being stolen everyday and as a result, the revenue accruing to government to both tiers of government fell by 40 percent.”