Chairman Heirs Holdings, Mr Tony Elumelu, bemoaned the fact that Nigeria was losing over 95 per cent of its oil production to thieves.
Elumelu noted that apart from the economy, Nigerians are now afraid as a result of the bad security situation.
Elumelu urged Nigerians to be vocal about the way they are governed and hold their leaders more accountable.
Elumelu pointed out that while oil-producing countries were happy that prices had been rising and their foreign reserves continue to grow, Nigeria is in a state of gloom.
He decried the worsening state of insecurity, public infrastructure and rising inflation in Nigeria.