Pipelines vandalism responsible for economic recession – Osinbajo

*Vice President Yemi Osinbajo of Nigeria.

*Vice President Yemi Osinbajo of Nigeria.

12 September 2016, Abuja –  Vice President Yemi Osinbajo, yesterday, attributed the current economic recession in the country to the loss of almost 60 per cent revenue due to the activities of pipelines vandals in the Niger-Delta.

The Vice-President said this while fielding questions from newsmen in Abeokuta.

Osinbajo, who disclosed that the nation has lost almost 40 per cent of the gas, however, expressed optimism that the country would soon overcome its challenges.

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 on 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.”

He explained that part of government measure to revive the economy was to diversify into agriculture and solid mineral, stating that results towards that were gradually being achieved

Similarly, he said government has observed that there are plenty of opportunities in manufacturing and technology, adding that the administration was also concerned with the number of young people who are unemployed .

  • Vanguard
About the Author