Governor Babatunde Fashola of
Lagos state, yesterday, blamed
the presidency over the delay in
the investigation of oil subsidy scandal, saying that the
investigation into the scandal
should have come earlier. Meantime, Nobel Laureate Prof.
Wole Soyinka and the Director of
the Centre for the Study of
African Economics, Oxford
University, Prof. Paul Collier
tasked the Federal Government to adopt the Rwanda system of
government administration. Fashola who made the remarks
at the two-day Kuramo
Conference, 2012 themed: ‘The
Global Common Wealth’ held in
Lagos, said that the executive
failed to do its job on the fuel subsidy scandal. He stressed that the legislature
should not have been the first to
look at the report but rather,
the executive has the
responsibility to conduct
investigation on the scandal. According to him, “This is because
the executive has the
responsibility for law
enforcement in Nigeria. And
anyone found to be implicated
during the investigation should have been dismissed immediately.
That was why I said that any
public office holder that abuses
his office should face severe
punishment that is available by
law.
The governor emphasised that
the oil sector was the most
vulnerable sector of the
country’s economy, adding, “it is
where the major source of
revenue of the country comes from.” On Trade, Fashola advised
African countries to engage
themselves more in trade in order
to fast track the development
and prosperity of the continent. He said that the continent
needed to look inwards for
answers to some of her economic
challenges. The governor observed that
most African countries preferred
doing business with the West and
Asia, saying the situation had not
really helped the economic
development of the continent. Speaking earlier, Collier said that
the Federal Government has a
huge challenge in managing the
country’s oil sector effectively,
adding “there are three features
lacking in the management of oil sector in the country.” Soyinka, who chaired the
conference, said the downturn in
the economies of a number of
developed countries should serve
as an opportunity for Africa to
develop her economy. He urged leaders address some
of the factors responsible for
the economic woes over the
years, and begin to reposition
the continent for greatness. Soyinka said if China was able to
transform her economy to the
second largest in the world in a
decade, it was possible for
Africa to do the same. Speaking earlier, Collier said that
the Federal Government has a
huge challenge in managing the
country’s oil sector effectively,
adding “there are three features
lacking in the management of oil sector in the country.” Collier explained that the three
features which would make the
management of the oil sector
effective in the country are its
rules, institutions and the
students. According to him, “It is the
responsibility of the Federal
Government to generate the
rules and the institution. The
rules and institutions are just
written on paper, without the critical mass, the citizens
understanding the issues, the
rules and institutions are dead.” Collier explained that the three
features which would make the
management of the oil sector
effective in the country are its
rules, institutions and the
students. According to him, “It is the
responsibility of the Federal
Government to generate the
rules and the institution. The
rules and institutions are just
written on paper, without the critical mass, the citizens
understanding the issues, the
rules and institutions are dead. “Why don`t we promote the
United States of Africa in Trade?
Why don`t we support the idea
of an Afro-zone? “The integration of Africa in
trade will no doubt impact
positively on the economies of
African countries. This is what
we should be thinking about. It is
good for our collective prosperity,” he said. Fashola said Africa was
strategic to global economic
development, saying the natural
and human resources had over
years been used to drive the
development of western economies. The governor said it was time for
Africa to exploit her resources
to develop herself, charging
leaders to create the right
atmosphere for development to
take place in the continent. Soyinka, who chaired the
conference, said the downturn in
the economies of a number of
developed countries should serve
as an opportunity for Africa to
develop her economy. He urged leaders address some
of the factors responsible for
the economic woes over the
years, and begin to reposition
the continent for greatness. Soyinka said if China was able to
transform her economy to the
second largest in the world in a
decade, it was possible for
Africa to do the same. Speaking earlier, Collier said that
the Federal Government has a
huge challenge in managing the
country’s oil sector effectively,
adding “there are three features
lacking in the management of oil sector in the country.” Collier explained that the three
features which would make the
management of the oil sector
effective in the country are its
rules, institutions and the
students. According to him, “It is the
responsibility of the Federal
Government to generate the
rules and the institution. The
rules and institutions are just
written on paper, without the critical mass, the citizens
understanding the issues, the
rules and institutions are dead.” “The country’s oil is a natural
resource that belongs not only
to this generation but also to
the future. If this generation
chooses to deplete, it has an
obligation to put in place other assets, hopefully more
productive than oil itself, which
the next generation can then use
to generate wealth.” “That is the responsibility of this
generation, particularly the
present decision makers. Past
generation of Nigerian decision
makers did not honour that
responsibility. That explains why you are not yet prosperous in
the oil market.”
www.vanguardngr.com/2012/11/oil-subsidy-scam-fashola-slams-presidency/

1

Abeg fashola leave Goodluck alone.
Goodluck's brain told him to frustrate the oil subsidy scam.He desperately needed to provide illegal cover for some indicted Cabals even his heart-trob Diesani. So he could afford to throw every caution to the winds.

the legislature
should not have been the first to
look at the report but rather,
the executive has the
responsibility to conduct
investigation on the scandal.

I agree....

subterfuge: Abeg fashola leave Goodluck alone.
Goodluck's brain told him to frustrate the oil subsidy scam.He desperately needed to provide illegal cover for some indicted Cabals even his heart-trob Diesani. So he could afford to throw every caution to the winds.

On point!!!