Obasanjo said this at the launch of an autography of former president of the Court of Appeal and pioneer Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), retired Justice Mustapha Akanbi.
To GEJ administration Obasanjo said:
“For quite some time, the covered and hushed-up corruption has had its toll on the economy. The non – investment in the oil and gas sector by major international oil companies has added its own deleterious impact.
“Our continued heavy dependence on one commodity had not adequately prepared us against any shock in that one commodity in the international plane. With the figure of $78 per barrel as benchmark, we will be in a bind if oil price falls to $75 per barrel. (Read more after there cut)...
“I am made to understand that Saudi Arabia used $68 as benchmark for her 2015 budget. Our inadequate protection of almost all local industries with heavy cost of energy has dealt a hard blow on most indigenous industries,’ he said.
“In the future, we will have a budget that cannot be funded. We may have to borrow to pay salaries and allowances. Revenue allocation to states and local governments has already drastically reduced. Capital projects at all levels may have to be drastically cut or stopped.”
“Nigeria cannot continue to indulge in disdain of truth, elevation of corruption and incompetence, reinforcement of failure, condoning heinous crimes and celebration of mediocrity, tribal bigotry, fomenting violence and anti – democratic practices in states and National Assembly.”
And to National Assembly, Obasanjo said:
"Apart from shrouding the remunerations of the National Assembly in opaqueness and without transparency, they indulge in extorting money from departments, contractors and ministries in two ways"
"They do so during visits to their projects and programmes and in the process of budget approval when they build up budgets for ministries and departments, who agree to give it back to them in contracts that they do not execute. They do similar things during their inquiries.”
"Corruption in the National Assembly also includes what they call constituency projects which they give to their agents to execute but invariably, full payment is made with little or no job done. In all this, if the executive is not absolutely above board, the offending members of the National Assembly resort to subtle or open threat, intimidation and blackmail. When the executive pay the huge money, normally in millions of dollars, all is quiet in form of whitewashed reports that fail to deal effectively with the issues investigated.”
"When the guard is the thief, only God can keep the house safe and secure. But I am optimistic that sooner than later, we will overcome. God will give us guards of integrity and honesty with the fear of God and genuine love of their people and their country.
“Today, there is no institution of government that is not riddled with corruption, not even the military. As the people cry out, where then is the salvation.”
Source: Premium Times, SunNews
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