Vice President Yemi Osinbajo on Tuesday said the Federal Government would soon turn its searchlight on the oil and gas sector where $20 billion was said to be missing.
In a statement signed by his media aide Laolu Akande, the Vice President also stated that the current economic state of the country was a resultant effect of the massive stealing that took place in previous administration.
The Vice President made this assertion while receiving a delegation of the Northern States Pentecostal Bishops Forum in his office at the Presidential Villa, assuring however that even though the times were hard, “there is great hope that this country will prosper.”
Former Central Bank of Nigeria governor, Sanusi Lamido Sanusi, had two years ago raised alarm over an alleged diversion of $20 billion from oil proceeds.
The President Muhammadu Buhari-led government is currently probing the misappropriation of money allocated for the procurement of arms for the anti-terrorism war during the last administration.
Osinbajo responded to those asking why the government continues to make reference to the past, saying, “We have to, that is why we are here.
“We have not turned attention to the oil and gas sector, where the former CBN governor alleged that $20 billion was stolen. We must condemn and stand up against this level of corruption. It is the single most important reason of the current state of the country. We can’t ignore it.”
According to Vice President, “this country has been badly governed. We are dealing for instance with the embezzlement of funds to the tune of $15 billion in one sector alone. “
The Vice President called on Christian and religious leaders generally in the country to ‘openly’ condemn corruption, adding, “we can’t say because they are Christians or Muslims we won’t condemn those involved in corruption.”
Responding on the views of the leader of the delegation, John Praise Daniel said that members of the forum have been actively involved in the fight against corruption in Nigeria, the Vice President said indeed the “country has been systematically destroyed.”
He said: “Our currency depreciated because we don’t have the reserves to back it. At the height of the oil boom, there were no savings.”
In addition to the massive fall in oil prices, he said the vandalism of pipelines had led to a worsening of the situation with the country loosing about 1 million barrels of oil per day for up to six months now. The vandalism has equally cut power supply since gas pipelines were also destroyed.
“That is the background for the sort of situation we find ourselves,” Osinbajo asserted while expressing renewed hope that “God surely has a plan for this country. We (as a government) are open, honest, transparent and we shall use the resources of this country very well.”
He pointed out that the recent GDP figures released last week indicated clearly there is growth in agriculture and solid minerals. According to him “agric and solid minerals have witnessed improvements.”
The social investment programmes, according to the Vice President, are on course, reassuring the nation “that very soon the 500,000 jobs scheme will take off,” alongside other schemes.
Earlier, Daniel expressed the support of the forum for the diversification of the Nigerian economy by the Buhari presidency, while calling for access to lower interest rates. The forum also asked the federal government to checkmate the violent herdsmen, create ranches in the states and promote religious harmony.
Responding the Vice President noted that President Buhari has given clear instructions to the security agencies to deal with anyone regardless of status who carries arms and also deal with anyone that causes and perpetrates violence of any kind.
“The President has said twice in the past fortnight that anyone who commits atrocities must be arrested and tried and he has demonstrated that resolve,” Osinbajo said.
He however added that generally the country’s criminal justice system is rather slow in delivering justice, adding that there is need for justice sector reforms.
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