Corruption and lack of transparency, among other factors are to be blamed for poor contract negotiations in Nigeria, says Vice-President Yemi Osinbajo.
The vice president made the comment while addressing a two-day capacity building workshop for negotiators on Monday.
The workshop, organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Abuja, seeks to help Nigeria improve its terms of engagement with the rest of the world as part of efforts to stem illicit financial flows.
Osinbajo cited the P&ID case and the Strategic Alliance Contract case where Nigeria is at risk of losing billions of dollars due to poor and shrewd negotiations of the contracts.
The Vice President called for proper negotiation by Nigeria in the ongoing discussion on climate change which he says should put into consideration Nigeria’s peculiar economic situation and needs of the citizens.