The Nigeria Vice President, Yemi Osinbajo has said the decision to increase fuel price from N86 per litre to N145 per litre was a tough one for President Buhari.
The Nigeria Vice President spoke at the Sheraton Hotels and Towers, Abuja, during the public presentation of a book “Anatomy of Corruption in Nigeria, Issues, Challenges and Solution”, written by Alhaji Yusuf Alli (SAN).
He told the gathering that several things that ought to have been done to address the sufferings and pains of Nigerians by the administration of President Buhari could not be done because of massive stealing and the depletion of Nigeria’s external reserves.
He said: “I want to just quickly say that corruption as we all know is not just a social evil, it is an existential threat to our country. There is no doubt at all that unlike in other countries, people say there is corruption everywhere which is true, but I think there is one distinguishing feature for Nigeria and for many other country, it is that it is a threat that directly affects the lives and livelihood of everyone.
“It is not just an evil, it is not just an immorality, it is existential because it could truly destroy lives and it has destroyed many lives and has continued to destroy the Nigerian economy.
“And Buhari think that the reasons are very obvious if you just take a clear example. All through the period when Nigeria was earning huge sums of money as proceeds from oil sales for almost five years, the external reserves of Nigeria remains much the same.
“It did not increase at all despite the high earning, now we know also that we are investigating cases which showed that over $15 billion was lost in one type of contract alone. We are not talking of oil contract, we are talking of security-related contracts, $15 billion. We have not talked at all of oil contracts in several billions.” [Buhari]