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President Muhammadu Buhari has reiterated his administration's readiness to recover Nigeria's looted funds from officials who served in Olusegun Obasanjo (1999-2007), Umaru Yar’Adua (2007-2010) and Goodluck Jonathan (2010-2015) administrations.

In a statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, Buhari, who had disclosed that looters are already returning stolen funds, expressed dissatisfaction at the rate the refunds are coming.

“We want to have everything back - all that they took by force in 16 years,” the President was quoted to have told the Nigerian community in Tehran, Iran on Wednesday, Nov. 25.

The President also blamed the delay in prosecuting looters on the necessity to comply with due process, adding that “the day of reckoning is gradually coming.”

According to the statement, Buhari also addressed the long-standing poor power supply in the country, saying the sabotage and theft of gas are undermining his administration's effort to improving electricity supply in Nigeria.

He also blamed privatisation of the institutions under the Power Handling Company of Nigeria (PHCN) for the problems in the power sector, noting that the role of government is limited because all the facilities “have been sold to a number of interest groups.”

He, however, assured that existing military task-forces would be reorganized to ensure a successful protection of the network of gas pipelines.

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