Key actors in the administration of the All Progressives Congress, APC, may be divided over the actual cause or causes of the current recession in the country.
This is as Vice President Yemi Osinbajo, Sunday, disagreed with President Muhammadu Buhari, by saying that the current recession was caused by pipeline vandalism in the Niger Delta.
President Buhari, had, in his sallah message on Sunday, blamed Nigeria’s economic recession on global economic downturn and past administrations in the country.
However, the Vice President, while speaking with newsmen in Abeokuta, the Ogun State capital, said the current economic recession in the country was due to the loss of almost 60 per cent revenue due to the activities of pipelines vandals in the Niger-Delta.
Osinbajo, who also claimed that the country has been losing about 40 per cent of gas, however expressed optimism that current challenges would soon be overcomed.
He said: “One of the key reasons why we are in recession is the fact that we lost about 60% of our revenue due to the vandalization of the pipelines in the Niger/Delta and we lost almost 40% of the gas.
“I have a strong belief that by the grace of God, we will be able to resolve that. Once we are able to resolve that, we would at least be able to earn more revenue. If revenue grows up, it is an added advantage.”
According to him, government was working on measures to revive the economy by diversifying into agriculture and solid mineral, adding that results towards that were gradually being achieved.
Vice President said further: “These are challenging times, it is very obvious and we know the reasons. It is 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. I have a strong belief that this country is one that God has a hand in its affairs. 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 focus on issue of development.”
According to him, “In another couple of years,we will see the difference. All of us has role to play in the change. Nigerians must be patriotic in our dealings and daily activities. We should be committed to the nation”.
By Timothy Enietan-Matthews…
RipplesNigeria …without borders, without fears
- BREAKING: 348 new cases of COVID-19 as Nigeria’s total passes 11000 to 11166; death toll rises to 315 - June 4, 2020
- ‘Bandits have betrayed our trust’, we’re pulling out of the ‘peace agreement’ —Katsina Gov - June 3, 2020
- INTERPOL grants EFCC access to its intelligence-sharing system that connects 194 countries - June 3, 2020