Former federal lawmaker Senator Shehu Sani has raised fundamental questions regarding the historical management of Nigeria’s natural resources, expressing a sense of irony over the nation’s persistent economic struggles despite its status as a major oil producer.
During his appearance on the Mic On Podcast on Sunday, March 29, 2026, the civil rights activist reflected on the complexities of advocating for the removal of the petrol subsidy while the citizenry continues to face significant hardship.
Sani acknowledged the difficult position that proponents of economic reform find themselves in given the current socioeconomic climate. He pointed to the stark contrast between Nigeria and other oil-rich nations, questioning why the country’s vast reserves have not yielded similar levels of national wealth. “So for us, it’s a bit complicated to now have to find ourselves defending the removal of subsidy,” Sani admitted.
He added, “But in the essence, when you look at it realistically, how can a nation like ours that we have such an abundant natural resources and inter-population that we’re having and if today all the crisis in the world is about oil. And they say Kuwait is rich, they have oil, Qatar is rich, they have oil and gas, Saudi Arabia is rich, they have oil and gas, then you ask yourself, why has our own oil and gas not translated into wealth and prosperity for our people?”
The former senator traced the exponential growth of subsidy payments through successive administrations, noting that the financial burden has evolved from millions of naira to trillions. He further highlighted the lack of transparency and the “faceless” nature of those who have historically benefited from the subsidy regime.
He said, “So subsidies are paid during Babangida, it was in millions, then it becomes billions, then it becomes trillions. Then I ask myself, I have never seen any person who comes to national TV and say he is the person collecting this subsidy. They say oil marketers and when you invite them to talk, they give you a lot of breakdowns and then you ask yourself, who is actually getting this money?”
Sani concluded this segment of the interview by posing a philosophical question regarding the paradox of plenty. He suggested that the presence of crude oil has seemingly failed to insulate the Nigerian population from extreme suffering and high costs of living, leading to a contemplation of the nation’s state had it lacked such resources entirely.
He said, “What if we don’t have crude oil in our country? If we can have such crude oil and people are suffering, and people have to pay so much to buy anything, what if we never have such a resources?”
... They Say Kuwait,Qatar,Saudi Arabia Are Rich,They’ve Oil And Gas; Why Has Our Own Not Translate —Sani ... Sportify Post.