Vice President< prof. Yemi OsinbajoVice President Yemi Osinbajo has said that if a President is corrupt, the entire financial system of the country is compromised as it happened in the past government in Nigeria before the coming of President Muhammadu Buhari.
Professor Osinbajo, who spoke today at the 7th Presidential Quarterly Forum (PQF) at the Aso Rock Presidential Villa, Abuja, recalled that in one single transaction, a few weeks to the elections in 2015, the sum of N100 billion and $289 million in cash were embezzled by a few.
“When you consider that in 2014, when oil prices were an average of $110 per barrel, only N99 billion was spent on Power, Works and Housing, and in one day, N100 billion was issued and people essentially shared it and N99 billion was spent on Power, Works and Housing.
“When we talk about our economy, we talk about it like it is normal but it is abnormal by every standard, completely abnormal. Nobody should talk about the economy when you have these huge leakages and corruption; corruption that makes what you allocate to capital and infrastructure nonsense.
“If the President is corrupt, the entire financial system of the country is compromised, that is what we have seen from the figures. That is an absolute important point that we must take into account.”
Osinbajo said that today, with less revenue, Buhari government has increased capital funding by 400 person in Power, Works and Housing, Defence, Transportation and Agriculture.
“This is what distinguishes this administration from any other. It is the fight against corruption especially in public finance. And I can say that will all sense of responsibility, if you have a President who is not corrupt, at least 50% of your financial problems, especially in public finance, is over. This is what I have seen, and I can prove it with facts and figures.
“I am not saying that corruption under this administration has been completely dealt, certainly not. Where corruption has become systematic, you can’t deal with it all in one fell swoop.
“In any event you still have to deal with corruption fighting back, the system fights back, it is both an internal and external fight, and you have to be steadfast and strategic to win the battle.
“There is no way you have a system that has consistently thrived on corruption and proceeds of corruption and public finance in particular that will just roll over, no! It is a system that had actively dealt on corruption and the system affects all aspects of governance. So clearly trying to deal with it is not a walk in the park.”
Vice President Osinbajo believed that, going forward in the next few years, if we stick to policies, especially in controlling excesses and corruption in public finance, this country will make the kind of progress it deserves to make with all of the resources at our disposal.
“If we stick to a policy that ensures that as far as public finance is concerned, there is no impunity, and we hold people to account, I am absolutely confident this country has everything it takes to make the sort of progress that we deserve to make as a nation.” [myad]
