The Chairman of the Federal Government Petroleum Revenue Special Taskforce, Mallam Nuhu Ribadu, has warned that the Federal Government’s failure to implement the report of the committee will affect the credibility of the government.
The Ribadu panel had on November 2, 2012 submitted its report to President Goodluck Jonathan.
The President on November 15, 2012, set up a White Paper committee led by the Minister of Labour, Mr. Emeka Wogu, and gave it two weeks to submit its report. But three months after the deadline, the committee had not submitted its report.
The committee was said to have sought for extension of time from the President.
But Ribadu said that Nigerians were eagerly waiting for the report, which he stated was capable of transforming the oil industry.He said, “Nigerians are waiting because the government promised that it would implement the report. Failure to do so will affect the credibility of the government seriously.
“We want to see that they implement this report. I continue to hope that they will do it. I believe that it is not late and that they can still go ahead and implement it right away because it is capable of changing this country, particularly the oil industry.”
Ribadu also described corruption as the major problem facing the oil industry. The former chairman of the Economic and Financial Crimes Commission lamented that corruption was killing the oil industry.