Obasanjo said the government’s open display of corruption constitutes a threat to the economy.
Speaking at a function in Abuja on Wednesday, Obsanjo said:
“Nigeria cannot continue to indulge in disdain of truth, elevation of corruption and incompetence, reinforcement of failure, condoning of heinous crimes and celebration of mediocrity, tribal bigotry, fomenting violence and anti-democratic practices in the states and National Assembly.
“Like prostitution, corruption is almost as old as man on the surface of the earth. It is needless to say that, for the first time in the history of Nigeria, the combined and complementary efforts of ICPC and EFCC made Nigerians and non-Nigerians know that corruption can be put on check and put to flight. When I came out of prison and I was persuaded to run as president, corruption was one of the priority items I chose to confront...
“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,” he added.
Speaking on the raging insurgency in the North-East, Obasanjo said: “Boko Haram is not simply a menace based on religion or one directed to frustrate anybody’s political ambition; it is essentially a socio-economic problem that is tainted with religion. It is a gargantuan danger to the nation and to all Nigerians. Initially, President Jonathan’s understanding of Boko Haram phenomenon suffered from wrong reading and wrong imputation. That is what led us to where we are today.”
