By Laja Thomas

LAGOS – Corruption has been identified as the major cause of poverty and that the scourge has significantly undermined socio economic development of Nigeria.

This was stated by Mr Femi Adeoya, Convener, The Patriotic Forum, at the launch of the forum in Lagos, Thursday, with a theme “Kill Corruption Before It Kills You” campaign.

The event featured experts and renowned consultants in the security and justice sectors who lead discussions around a variety of issues focusing on the impact of corruption on governance and socio-economic development.

He said: “We have recognised that corruption is a major cause of poverty, and that it significantly undermines socio-economic development in Nigeria, hence we have decided to start a campaign that will soon spread across the country wide.”

To tame this monster, the forum urged government to re-invigorate the anti-corruption crusade by strengthening the Economic and Financial Crimes Commission, EFCC and ICPC; ensure speedy passage and assent to Asset Forfeiture Law, setting up special courts for corruption cases and leading by example.

“The federal government should put more vigor and transparency in the power sector. Adequate power supply will help with employment generation and security. The government should concentrate almost 40% of efforts on privatizing the power sector with true competition.

“Mr. President can mandate any major oil company interested in Nigerian oil to develop a meaningful power plant or forget lifting of crude oil from Nigeria just for example.

“Thirdly, government should forget about removing oil subsidy in the interim. The focus for now should be in cleaning the Augean stable of the subsidy cartel. All those involved in any corrupt practices in the oil sector should be exposed and punished according to the dictates of the law of the land,” Adeoya said.

He also urged government to show genuine commitment to improvement in agricultural investments and soft loans for Small and Medium Scale industries.