ABUJA: Nigerian President Muhammadu Buhari, who has promised to fight corruption embedded in the oil industry, plans to be the Cabinet minister in charge of the oil sector, a spokesman said.

Nigeria is Africa’s biggest petroleum producer and is hard hit by halved prices for the oil that provides 80 percent of government income.

Buhari has said some $150 billion has been stolen from the treasury in 10 years and appealed at the UN recently for countries to dismantle safe havens for looted funds.

Buhari’s move would give him maximum power to push through needed reforms, analyst Malte Liewerscheidt of risk consultancy Verisk Maplecroft said.

But he warned it is “a high-risk strategy as it links Buhari’s fate as president with successful reform of the oil and gas sector.”