A former Commandant of the Nigerian Defence Academy and former General Officer Commanding 1 Mechanised Division of the Nigerian Army, Kaduna, Retired Major General Adeniyi Oyebade has identified crude oil theft and illegal mining as major threats to Nigeria’s economy, saying the Federal Government’s reforms are on course to address the challenges.
Oyebade, who spoke in an interview with journalists said tackling crude theft and illegal mining was essential to improving government revenue and strengthening national security, while also defending President Bola Tinubu’s economic reforms, including fuel subsidy removal and foreign exchange reforms, as necessary to rescue the country from economic collapse.
He acknowledged the hardship confronting Nigerians but said the reforms must be understood against years of economic distortions, alleged mismanagement of public resources and the failure of successive administrations to implement national development plans.
“These reforms are absolutely necessary in order to dismantle the decades of economic distortion, mismanagement of our commonwealth and failure to adhere to national development plans,” he said.
He said Nigeria had spent years defending the naira and subsidising petroleum products in a manner that benefited a few at the expense of the wider population, adding that the reforms were meant to redirect resources to infrastructure and long-term development.
“We are now borrowing for infrastructure, for development. Progressive change may be slow, but it is sure. There are difficulties, no doubt, but we are in the right direction. Our country was on the verge of collapsing,” he said.
Oyebade described fuel subsidy as the biggest heist and said its removal was one of Tinubu’s boldest decisions.
He noted that the dollar which exchanged for about N200 to N250 in 2015/2016 had risen to N700 to N800 before Tinubu assumed office, and that Nigeria was borrowing about $1.5bn monthly to defend the naira while subsidising foreign exchange and petrol.
“We knew how difficult it was to source for foreign exchange from the banks. Subsidy was the biggest money heist in Nigeria,” he said.
He alleged that the subsidy regime was abused through diversion of subsidised fuel to neighbouring countries, with criminal networks operating at ports, borders and financial institutions.
“The same people that are bringing the fuel to Nigeria are the same people, majorly, who also facilitate the smuggling of it abroad,” he said.
He recalled concerns previously raised by former Minister of Finance, Dr Ngozi Okonjo-Iweala, and former CBN Governor, Sanusi Lamido Sanusi, over subsidy claims and crude revenues.
On crude theft and illegal mining, Oyebade said pipeline vandalism, illegal refineries and unauthorised vessels had drained national resources, but noted that theft has declined in the last three years while production has improved.
“Is that not a plus to the Nigerian people? Because this success is not about Mr President. It’s our commonwealth,” he said.
He linked illegal mining of gold, lithium and other minerals to insecurity, saying criminal groups arm militia to protect illegal sites and finance violence, while denying the country revenue.
“Do you think they will give up without a fight? They are not interested in the welfare of Nigerians. They just want money to continue committing their atrocities,” he said.
On security, he rejected the view that insecurity is new, citing Boko Haram’s emergence in 2009, ISWAP, bombings of the UN office in Abuja and attacks in Nyanya.
He said concrete barriers around government buildings in Abuja remain reminders of that period.
He said many soldiers had paid the ultimate price and urged Nigerians to appreciate their sacrifices.
“Sometimes I feel that a large majority of our population do not deeply appreciate the huge sacrifices the military and security agencies make. It’s not just a job to serve. It is the readiness to sacrifice our lives for country. What’s greater than that?” he asked.
He cited Tinubu’s approval for expansion of the Army from eight to 12 divisions, increased recruitment, additional equipment, reorganisation of intelligence agencies and support for state police.
“The establishment of state police is a deep necessity because every security challenge is first and foremost local,” he said.
He also linked Nigeria’s security challenges to arms proliferation after the Libyan crisis and its spread across the Sahel, including Mali, Burkina Faso, Niger and Cameroon.
Oyebade faulted sweeping criticism of the administration, saying social media commentary does not represent all Nigerians.
“Some Nigerians not all,” he said, adding that the President has access to more information and data than critics.
He urged citizens to also demand accountability from state governments receiving three to five times more allocations than before.
“What about the states that are getting three to five times what they were getting before? Are their state citizens demanding accountability?” he asked.
He cited the Nigerian Education Loan Fund as a positive intervention, though the N20,000 monthly stipend may be inadequate.
“Is it enough? Not exactly, but it is a big step forward. Is the President doing enough? It may not be enough, but we are on course,” he said.
