VP Osinbajo Explains Why Government Did Not Name Looters

VP Osinbajo Explains Why Government Did Not Name Looters

Nigeria’s Vice President, Professor Yemi Osinbajo, on Monday explained that the federal government decided not to release the names of persons from whom it has recovered looted funds and assets, as doing so may jeopardize ongoing investigations.

The Vice-President made the statement during a meeting at the presidential villa with a delegation of the European Union led by the EU Ambassador to Nigeria, Mr. Michel Arrion.

At the weekend, the government released a list of sums of monies and assets recovered in the past one year but left out the names of individuals from whom recoveries were made.

Prof. Osinbjo also explained that in addition to strengthening security in the Niger Delta, the federal government is engaging its leaders and people regarding the spate of attacks on oil installations in the area, stressing that those acts amount to economic sabotage.

Calling on the leaders in the region to be accountable to the people, he stated that the focus of the Buhari presidency is to ensure that the man on the street in the Niger Delta receives the benefit from all that is available there.

Prof. Osinbajo assured that government is working round the clock to minimize the losses arising from the attacks, adding: “We are talking, we are ensuring that we minimize losses, and we are stepping up security. We are also engaging the international oil companies, IOCs, to see what options exist.”

On economic issues, the Vice President restated the government’s commitment to driving its diversification policy and encourage investors from European countries to take advantage of the situation, especially in the agro-allied/processing industry.

He restated the determination of the administration to ensure that the ease of doing business ranking in Nigeria goes up by at least 20 steps in the World Bank rating. To this end, he said the President has approved the composition of a Presidential Commission on the matter to be chaired by the Vice-President, and with the Minister of Industry, Trade & Investment, Dr. Okey Enelamah as Vice Chairman.

“In the next few months, we should see some changes,” he promised.

Earlier, Ambassador Arrion said he had come to hold consultations with the Vice President as a follow-up on President Buhari’s meeting with EU leaders during his visit to the continent.

 

“Nigeria has a huge market we can invest in,” he declared.  “It is also a place we can export from.”

The Vice President and the EU envoy also discussed the EU trade deal with ECOWAS, as well as the Economic Partnership Agreement, one of the main issues tabled at the meeting of West African leaders over the weekend in Dakar.