There's Massive Corruption In Oil, Banking Sectors — Jonathan

Leadership

22 February 2012

There's Massive Corruption In Oil, Banking Sectors — Jonathan

President Goodluck Jonathan has admitted that massive corruption exists in the nation’s oil and banking sectors, but he promised to tackle them head-on.

In an exclusive interview with Jonathan Power, a Swedish journalist and commentator, the president said that the administration had succeeded in tackling corruption in fertilizer procurement and distribution.

He said: “Corruption is not just one group of people. Look at fertilizer. When government used to distribute it, there was a lot of corruption. Today the farmer buys fertilizer directly from the manufacturers and dealers. The government subsidies the fertilizer. We give farmers tokens so they can buy it and cut out the middleman. So corruption is reduced.

“That’s exactly what I want to do with the oil sector and also in the banking sector. There are massive corrupt practices.”

Jonathan said, however, that it was not corruption per se that was slowing down the development of Nigeria, as many states with committed and focused leadership have succeeded in transforming their states. He cited Uyo and Port Harcourt as examples.