• 377

    USD/NGN

Oil Subsidy Scam: Fashola Slams President Goodluck

Oil Subsidy Scam: Fashola Slams President Goodluck

Oil Subsidy Scam: Fashola Slams President Goodluck

Governor Babatunde Fashola of Lagos state, yesterday, blamed the presidency over the delay in the investigation of oil subsidy scandal, saying that the investigation into the scandal should have come earlier.

Meantime, Nobel Laureate  Prof. Wole Soyinka and the Director of the Centre for the Study of African Economics, Oxford University, Prof. Paul Collier tasked the Federal Government to adopt the Rwanda system of government administration.

Fashola who made the remarks at the two-day Kuramo Conference, 2012 themed: ‘The Global Common Wealth’ held in Lagos, said that the executive failed to do its job on the fuel subsidy scandal.

He stressed that the legislature should not have been the first to look at  the report but rather, the executive has the responsibility to conduct investigation on the scandal.

According to him, “This is because the executive has the responsibility for law enforcement in  Nigeria. And anyone found to be implicated during the investigation should have been dismissed immediately. That was why I said that any public office holder that abuses his office should face severe punishment that is available by law.”

The governor emphasised that the oil sector was the most vulnerable sector of the country’s economy, adding, “it is where the major source of revenue of the country comes from.”

Speaking earlier, Collier said that the Federal Government has a huge challenge in managing the country’s oil sector effectively, adding “there are three features lacking in the management of oil sector in the country.”

Collier explained that the three features which would make the management of the oil sector effective in the country are its rules, institutions and the students.

According to him, “It is the responsibility of the Federal Government to generate the rules and the institution. The rules and institutions are just written on paper, without the critical mass, the citizens understanding the issues, the rules and institutions are dead.”

“Why don`t we promote the United States of Africa in Trade? Why don`t we support the idea of an Afro-zone? The integration of Africa in trade will no doubt impact positively on the economies of African countries. This is what we should be thinking about. It is good for our collective prosperity,” he said.

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