The Federal Government has reiterated the need to tackle corruption, which, it said, has been discouraging the inflow of investments.
Vice President Yemi Osinbajo said corruption must be taken as an unacceptable practice that should be exposed by all.
He spoke for President Muhammadu Buhari at the opening of the 24th National Economic Summit (NES) organised in Abuja by the Nigerian Economic Summit Group (NESG).
In a paper titled: “Corruption and rule of law”, the vice president said: “Systemic corruption, in procurement process, corruption in approval processes obviously discourages investments and we must examine those closely.
According to him, the impact of corruption on development has been a major issue. He noted the menace was promoted by the “years of impunity and of no consequence.”
He described as unfortunate that many Nigerians have come to accept corruption as a way of doing business.
Osinbajo said it was important for the country to confront this menace, focus on it as an issue and deliberate on a way forward.
“Confronting it is crucial as you really can’t avoid it and the only way to confront it is for the government to be determined, to be committed to it.
“Especially by strengthening the systems that will make corruption become something that will attract consequence, something that will attract sanctions.