Corruption Is Nigeria’s Major Problem, It Discourages Foreign Investment – Akpabio

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Corruption Is Nigeria’s Major Problem, It Discourages Foreign Investment – Akpabio

Minister of Niger Delta affairs, Godswill Akpabio has expressed that the major problem of the country is corruption.

Akpabio spoke on Monday at a town hall meeting on the protection of oil and gas infrastructure in the country, held in Abuja.

Akpabio stated that international oil companies (IOCs) may be discouraged from remitting what is due to host communities because of corruption, since such funds appear unaccounted for.

“The IOCs must have been discouraged by the way the funds made available were used by NDDC. You cannot point to any substantial development in any of the nine states, in spite of the money that has so far gone into the NDDC,” he said.

“So, I thank the president for trying to find out how much has gone into the NDDC and how much has been judiciously spent.

“The reality is that corruption is the major problem of Nigeria. Even when the first prime minister took over from the British government, the British drew as part of their report that the greatest problem facing Nigeria in 1960 was corruption.

“With corruption, no matter the amount we put for the oil communities, we might end up with communal clashes.”