Niger Delta Corporate Network (NDCN) has described the decision of President Muhammadu Buhari to scrutinise the oil industry as a welcome development as it will lead to the revamping of Nigeria’s oil and gas sector.

“As players in the corporate world, especially as Niger Delta indigenes with interests in the oil industry, among other sectors, we are aware of the rot that has been rooted in government over the years and have had a negative impact on the cost of doing business in the country,” NDCN said in a statement issued in Port Harcourt and signed by its Executive Secretary Ebitimi Filatei.

The group described Nigeria as one of the least competitive nations because of the corruption component in doing business. “This situation and the grave danger corruption poses to our progress and development as a nation informed the decision of the NDCN to endorse President Muhammadu Buhari in the run-up to the 2015 election, which he convincingly won,” the group said in the statement, a copy of which was made available to News Express by e-mail.

NDCN observed that so far President Buhari has not disappointed it with his methodical approach to rebuilding the institutions of the state and along with it ensure that every crime gets its due punishment.

“The current searchlight being beamed on the oil sector by the president and his plans to reform the sector are therefore understandable and commendable,” the group said.

It pledged its support to the administration of President Buhari in this regard, and indeed in his efforts to change Nigeria’s pariah status in the comity of nations.

“In doing this,” NDCN said, “we seek the understanding of the people of the Niger Delta to look beyond the crass nepotism displayed by some elements who seek a return to the perfidy of the past, and sue for patience from all as President Buhari unfolds his development agenda for Nigeria and the region. The Niger Delta, where we operate as businessmen and which is our homeland, deserves a lot better than it has gotten so far, in terms of development, despite being the economic livewire of the nation. We are encouraged by President Buhari’s surgical approach to freeing the reins of Nigeria’s business sector and make it accessible to all, and we believe that he would faithfully honour our expectations for businesses in the region based on discussions with his team during the campaigns and after. We are for private sector-led growth, with strong government support, fairness and equity.”