NIGERIAN Vice President, Yemi Osinbajo, has stressed that the Federal Government was adopting a twin approach of engaging with Niger Delta stakeholders and beefing up security in the region to minimize losses caused by damage to oil and gas installations.
The vice president gave the assertion at the Presidential Villa, Abuja, on Monday, during a meeting with a delegation of the European Union (EU) led by the EU Ambassador in Nigeria, Mr Michel Arrion.
He said government was working round the clock to minimise the losses arising from the attacks, adding: “we are talking, we are ensuring that we minimise losses and we are stepping up security. We are also engaging the international oil companies, IOCs, to see what options exists.
“Government is adopting twin strategy in dealing with oil installation attacks, wants average Nigerians in Niger Delta to benefit from resources.”
Noting that attacks on oil installations were an act of economic sabotage, he said government was reaching out to the people in the area and beefing up security.
He said the focus of government was “to ensure that the man on the street in the Niger Delta receives the benefit from all that is available there.”
Osinbajo called on the leaders in the region to be accountable to the people.
On the decision not to publish the names of those who refunded looted money, he explained that releasing the names would jeopardise ongoing investigations.
“We have released the list of recovered loot. We know people are asking for the names, but releasing the names may jeopardise ongoing investigations,” the vice president said.
He also spoke on government’s effort to diversify the economy and attract foreign investors to take advantage of the situation especially in the agro-allied/processing industry.
Osinbajo restated the determination of the administration to ensure that the ranking of Nigeria in the ease of doing business was enhanced, noting that President Muhammadu Buhari has approved the composition of a Presidential Commission on the issue, assuring that “In the next few months, we should be seeing some changes.”
Earlier, Ambassador Arrion noted that Nigeria has a huge market worthy of investing in.