VP Osinbajo blames Niger Delta militants for recession

Vice-President Yemi Osinbajo has Blame the current economic recession to the activities of militants in the Niger Delta.

Osinbajo said there was no way Nigeria would not be affected given the fact that “the nation now loses over one million barrels of crude oil on a daily basis.”

The Vice-President said this on Monday at the maiden meeting of the Presidential Quarterly Business Forum with members of the organised private sector and other stakeholders at the State House Conference Centre, Aso Villa, Abuja.

Osinbajo said, “Perhaps it is important for us to understand the nature of this recession in which we have found ourselves. In discussing this issue of recession, there is the tendency for people to generalise. A lot depends on what sort of recession and how we got here.

“If we did not have vandalism in the Niger Delta as we are currently suffering, we will not have this recession today. Moreover, in looking at the solutions, we should try to focus on the type of problem we have and what instigated it then we can begin to come up with better solutions.”

Osinbajo, who is the head of the Economic Management Team, said the Federal Government was ready to address challenges in the power sector.

He added, “We are doing a whole lot by interfacing with the private sector because we realise their role in the economy. If the Dangote refinery comes on stream, it will help us overcome some of those challenges like the sub-sea gas pipelines; it will take care of vandalism.

“But I think the more important thing is how to clean up the mess in the power sector, especially infrastructure, in the short term, we will try to bring up power to an appreciable level to help the manufacturing sector.”

VP Osinbajo blames Niger Delta militants for recession