He made the remark when NIPSS submitted a report to him at the Presidential Villa, Abuja.
Noting that daily oil production of 2.1 million barrels was recorded between 1999 and 2015, he said that there was virtually no savings on ground despite the huge income during the period.
Infrastructures, he said, were also in dilapidated states.
To make matter worse, he said that oil prices in the international market, which sold for over $100 per barrel fell below $30 per barrel under his tenure.
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