Ahead of the long awaited release of the ministerial list, President Muhammadu Buhari has announced himself as the head of the ministry of petroleum resources.

President Buhari made this known to reporters in New York on Tuesday after addressing a Global Leaders' Summit on Countering ISIL and Violent Extremism, but further stated that he will appoint a minister of state for the ministry.

“I will remain Minister of Petroleum. I will appoint a minister of State for Petroleum,” he stated.

Explaining reasons behind his decision, Buhari said that it was part of efforts to sanitise Nigeria's oil industry which is plagued by corruption, massive fraud, and crude oil theft.

The President stated his determination to bring sanity to the nation's oil industry and free it from corruption and shady deals.

He admitted that the first phase of his plans for the oil sector came with the appointment of a new management for the NNPC and its subsequent reorganisation.

On the oil thieves, the President said that the prosecution of those who misappropriated NNPC's revenue under past administrations would soon commence.

He further pledged to step up the fight against corruption, which he insists was the root of all problems hindering the development of the nation.