VP Osinbajo Explains Indisputable Reasons For Economic Recession


Nigeria’s Vice President, Yemi Osinbajo has pointed out the major problems behind the country’s economic recession, which hampers the full impact of positive change, promised by President Muhammadu Buhari’s administration.

Speaking to Journalist on Sunday, September 11, after a church programme in Abeokuta, Ogun State, the Vice President outlined the key reasons and he said,

“One of the key reasons why we are in recession is the fact that we lost about 60 per cent of our revenue due to the vandalisation of the pipelines on the Niger Delta and we lost almost 40 per cent of the gas.

“Once we are able to resolve that issue, we would at least be able to earn more revenue.”

According to Mr. Osinbajo who is also a pastor at Redeemed Church, these are challenging times.

“There is a high level of corruption and we have dealt with that. We are controlling government expenditure. Once you can control corruption, we are out of it (recession).

“In fact, the reason why President Buhari is in office is because God has a plan and hand in this nation; that this nation will be governed properly; that stealing of resources will stop; that we focused on issue of development.”

Osinbajo believes that in another couple of years, Nigerians will feel a positive change. He reiterated that all of us have a role to play in other to impact a positive change.

“Nigerians must be patriotic in our dealings and daily activities. We should be committed to the nation.”

See Also: Bag Of Rice May Sell For 40K By December – Minister Of Agriculture

The All Progressive Congress (APC) administration has come under heavy criticism from Nigerians for the handling of the economy. But the Vice President has assured that the present administration is very focused, calm and extremely confident that Nigeria will change for the better.