Corruption, oil vandalization ruining nation’s treasury – Osinbajo

Acting President Yemi Osinbajo has said corruption and oil vandalization is ruining the nation’s treasury and limiting federal government’s capacity to execute projects.

He said however that the federal government is surmounting the challenge by being frugal in its spending, stressing that the nation would have crumbled if not for the prudent approach by the Buhari administration in governance.

Osinbajo who spoke yesterday in Port Harcourt during a town hall meeting, reiterated that corruption and destruction of oil installations had affected the funds used in the running of the affairs of federal government.

“We are at a point where even with the slim resources we are able to support the states,” he said, asserting that within few months things would shape up and the country would improve greatly.

Osinbajo stated that the Buhari-led administration was ready to change the narrative of the people of the Niger Delta as it would ensure that it executed rejects that would impact meaningfully on the lives of the people of the region.

He spoke on the cleanup plan of the federal government for Ogoni. He said, “Not only has the project coordinator been appointed, SPDC is compelled to give $1 billion for the project in five tranches of $200 million a year. They have already given a take-off part. That take-off part we are going to use to begin the remediation work immediately.”

Osinbajo also said the FG had set aside its counterpart fun for the completion of the East-West road and the Lagos-Calabar-Port Harcourt rail road, stressing that Buhari would fulfill all his promises to the people of the region.