Oshiomhole made the allegation Thursday when he received members of the Association of Enegies from Edo South.
He said, "Ideally, we ought to be saving $36 per barrel on the 2.3 million barrel a day over the past three years and if you look at these numbers you will find that what we have in our excess crude oil account should be over $30billion but as we speak, we have barely $3 billon in our excess crude account.
"Over the past 18 months, we have not shared the excess crude account and yet, the account is empty. Sometimes we are told they have taken money from it to fund subsidies including subsidy on kerosene but your royal highnesses, there is nowhere in your various domains where kerosene is sold for N50. So in the name of subsidy, large sums of money are being stolen.
"Things are tough now around the country because the Federal Government mismanaged our national resources and what is being stolen, nobody agrees it is being stolen. What is arguable is who is responsible for this stealing. When the Federal Government and the President talk about oil theft and the amount that is allegedly stolen is huge such that whereas we have the capacity to produce about 2.4 million barrels a day, what accrues into the federal government account is less than 1.8 million barrel a day.
"From the last time we had a meeting, the handouts they distributed shows that sometime for a period of two weeks, we were losing as much as 700,000 barrels a day and that has been on for the past 12 years. I am not able to understand why, suddenly, Nigeria cannot protect its territorial waters because the boundaries have not changed and the people are still the same and at the peak of the so-called militancy, we were still exporting about 2 million barrels a day,", Oshiomhole said.
"To the best of my knowledge, there is no major known person who has been prosecuted and convicted for oil theft in a way that reflects the magnitude of what is allegedly stolen".
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