We’ll probably have N7tn in 2017 budget, but it won’t make much difference -Osinbajo

Vice-President Yemi Osinbajo has said that 2017 Appropriation Bill will be about N7trillion, but that the amount will not be able to make the much needed impact in the country’s economy.

The executive arm of government is preparing to present the budget to the National Assembly in days to come.

But Osinbajo, the Chairman of the Economic Management Team, speaking
during a tour of some firms in Sagamu, Ogun State on Thursday said the
budget though may look fair but certainly not the kind of size to make a huge difference in the nation’s economy.

“Our entire budget size for 2016 is something in the order of just over N6tn and we will probably be moving to about N7tn in the 2017 budget.

“But N7tn is certainly not the kind of money,. It does sound like a fair amount of money, but certainly, it is not the kind of size that can really make a huge difference in a N90tn economy such as we have.

“So, the real issue is that, the contribution of the Federal Government is catalytic. The Federal Government can only make some
catalytic contributions in terms of infrastructure, and some incentives for the private sector.

“The real contribution is going to come from the private sector and that is why these partnerships are absolutely important to us, and what we are looking at is some game-changing type of projects, such as
we have here. The type of projects that can make the real difference,” Osinbajo said.

Read also: Saraki, Buhari in close-door meeting, make consensus on 2017 budget

According to him, the present government had continued to stress on the relevance of agriculture because it could employ a lot of people.
He added that government had resolved to partner with business outfits that could make the difference.

He said, “We certainly will be looking at all of the various ways that we can assist by ensuring that this project comes to conclusion in very reasonable time, and that we are able to take advantage of the
benefits as quickly as possible”, the Vice President stated.

RipplesNigeria ….without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now