World

Nigerian president plans to hold oil ministry, combining country's 2 most powerful posts

  • Nigeria's President Muhammadu Buhari, left, shakes hands with United Nations Secretary-General Ban Ki-moon as they meet during the 70th session of the United Nations General Assembly at U.N. headquarters, Monday, Sept. 28, 2015. (AP Photo/Craig Ruttle)

    Nigeria's President Muhammadu Buhari, left, shakes hands with United Nations Secretary-General Ban Ki-moon as they meet during the 70th session of the United Nations General Assembly at U.N. headquarters, Monday, Sept. 28, 2015. (AP Photo/Craig Ruttle)  (The Associated Press)

  • Nigeria's President Muhammadu Buhari speaks during the 70th session of the United Nations General Assembly at U.N. headquarters Monday, Sept. 28, 2015. (AP Photo/Frank Franklin II)

    Nigeria's President Muhammadu Buhari speaks during the 70th session of the United Nations General Assembly at U.N. headquarters Monday, Sept. 28, 2015. (AP Photo/Frank Franklin II)  (The Associated Press)

  • Unites States Secretary of State John Kerry greets Nigeria's President Muhammadu Buhari during the Leaders' Summit on Countering ISIL and Violent Extremism at the United Nations headquarters Tuesday, Sept. 29, 2015. (AP Photo/Kevin Hagen)

    Unites States Secretary of State John Kerry greets Nigeria's President Muhammadu Buhari during the Leaders' Summit on Countering ISIL and Violent Extremism at the United Nations headquarters Tuesday, Sept. 29, 2015. (AP Photo/Kevin Hagen)  (The Associated Press)

A spokesman says Nigerian President Muhammadu Buhari, who has promised to fight corruption in the oil industry, plans to be the Cabinet minister in charge of the oil sector.

Nigeria is Africa's biggest petroleum producer, with revenues providing 80 percent of government income. Buhari has said some $150 billion has been stolen from the treasury in 10 years.

Analyst Malte Liewerscheidt of risk consultancy Verisk Maplecroft said Buhari's move would give himmaximum power to reform the oil and gas industry but warned that it is a "high-risk strategy" that links his fate as president with successful reform.

Garba Shehu, a spokesman for Buhari, confirmed Wednesday that Buhari will put his name forward as petroleum minister on a long-awaited Cabinet list to be presented for Parliament's approval this week.