The current social-economic reality in Nigeria isn’t leaving anyone out as billionaire and Chairman Heirs Holdings, Mr Tony Elumelu, Thursday lamented over Nigeria’s failure to maximize her full potential as an oil pronouncing state.

Elumelu narrated the experience of some of his colleagues at work on his official Twitter handle.

He tweeted, “This morning, I am listening to my colleagues at the office bemoan the very pressing issues that they face every day in this country, and how things have been getting worse and worse – no electricity for five days, hikes in the price of diesel, frightening food inflation, etc.

This morning, I am listening to my colleagues at the office bemoan the very pressing issues that they face everyday in this country, and how things have been getting worse and worse – no electricity for 5 days, hikes in the price of diesel, frightening food inflation, etc.

— Tony O. Elumelu, CON (@TonyOElumelu) March 17, 2022

Elumelu expressed disappointment over Nigeria’s lack of efforts to make the most out of the current rise in oil price while oil-producing countries were happy that prices had been rising and their foreign reserves continue to grow.

“Meanwhile, oil-producing countries are smiling as their foreign reserves rise. What is Nigeria’s problem? We need to hold our leaders more accountable,” he added.

“How can a country so rich in natural resources have 90 per cent of its citizens living in hardship and poverty? I have often said that access to electricity is critical for our development, alleviation of poverty and hardship. And speaking of security, our people are afraid! Businesses are suffering.”

He urged Nigerians to be “vocal” about the way they are governed and hold their leaders more accountable.

He said, “Elections are coming – security and resources need to be everyone’s agenda – let’s be vocal for our nation’s priority.
“Evil prevails when good people are silent. We need to be vocal about 2023. Let’s focus on Nigeria. Demand and advocate for leaders that deliver. In 2023, Nigeria must be on a strong trajectory for progress and development.”

The businessman, who chairs the Board of the United Bank for Africa (UBA), argued that being endowed with huge natural resources, the country should not be in its current decrepit state.

“How can we be losing over 95 per cent of oil production to thieves? Look at the Bonny Terminal that should be receiving over 200,000bpd barrels of crude oil daily, instead it receives less than 3,000 barrels, leading the operator , Shell to declare force majeure.

“Why are we paying taxes if our security agencies can’t stop this? It is clear that the reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!”