squeaky steering column

[E30 Wagen]

My steering squeaks really badly whenever I turn. What's the fix for this? It's extremely annoying.

[Bearmw]

I tried drilling a small hole (about 6mm) about 6 inches from the bottom of the collumn then i put in some penetrating oil, Worked the wheel back and forth a bit and then put in a little 10W30 oil and covered the hole with some tape. I was told it helps lubricate the old bearing that is in there. Seems to help.