Alhaji Korodo made the comment during a recent appearance on Frankly Speaking With Jola Sotubo.
“This sector is shielded by some very powerful cabals and capitalists. The past government failed to invest on infrastructure, they only promoted individuals, capitals and cabals, and they are the ones holding the nation to ransom,” he said.
“We got it wrong for the past 16 years. No apology for this statement, the government of PDP, for the past 16 years, happened to be a loss…They made some of their money from the industry, but didn’t contribute to its development.
“Instead, they empowered their political associates and encouraged them to invest. Even the investment that belonged to the government, their interest was to sell them to the same so-called political associates.
“They failed to maintain refineries…because they believe in importation spree and they gave licences to bring in fuel at the detriment of the survival of our own local refinery,” he added.
The NUPENG Lagos Chairman also urged the current government to build more refineries in order to end the problem of fuel scarcity in the country.
Watch the video of the interview below: