Erstwhile Nigerian Electricity Regulatory C o m m i s s i o n (NERC) Chairman Sam Amadi says Nigeria’s poor rating in corruption perception index and other indicators of public probity is a cause for concern.

He added that Nigeria is also very poor in the rating of state effectiveness. He made the remarks as the guest speaker at the 6th Annual Lecture of Just Friends Club of Nigeria(JFCN) on November 5 in Abuja.

The topic of Amadi’s lecture was ‘High Cost Of Governance As An Impediment To Development.” The lecture was chaired by Olorogun Peter Igho, a former Executive Director (Programmes) of the Nigerian Television Authority(NTA) and former Director General of the National Lottery Regulatory Commission.

To Amadi, Nigeria faces an acute crisis of values which is reflected in the gross lack of productivity in both its private and public sectors. He said: “As a worldleading producer of oil, we ought to be richer than we are.

“But we know that the wealth of nations does not come mostly from natural resources. “Countries like Singapore and South Korea are not so much naturally endowed. They are geographically constrained in many ways. But Nigeria won the geographical lottery in many ways.”

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