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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo (905 Views)
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Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Trut(m): 1:36pm On Sep 11, 2016 |
Vice-President Yemi Osinbajo, on Thursday, dismissed insinuations by a former President of Nigerian Bar Association, NBA, Olisa Agbakoba that Nigeria’s current economic recession will last until 2020. Agbakoba, a Senior Advocate of Nigeria,SAN, had on Tuesday, expressed displeasure with the current state of Nigeria’s economy, saying recession may continue until 2020, if President Muhammadu Buhari failed to review some of his policies. But the Vice President while addressing reporters in Ede, Osun State, stated that the recession will not last long because the administration was putting in place measures that will resuscitate the economy. Osinbajo, however, attributed the recession to the destruction of oil pipelines in the Niger Delta region. According to Osinbajo, the destruction had resulted in the reduction of crude oil being sold by the country. He said, “As far as we are concerned and so far as all of us who are working seriously hard are concerned, the recession must be short-lived. “The reason is that as of February last year, we were generating 5,000 megawatts of power and that was the highest ever in the history of this country and that same month the vandalism of the pipelines started. So, we lost 60 per cent of gas and 60 per cent of revenue. “There is nowhere in the world, there is no economy in the world that can lose 60 per cent of its revenue and will not go into some sort of recession which is actually what has happened to us in this country. “Once we are able to resolve these issues concerning pipeline vandalism and the diversification of the economy we are working towards, things will change for the better. “We are working towards regaining our products locally. We are investing more in refineries and private investors are coming into refineries as well. If we are able to do this, 70 per cent of what we import will not be imported again, hence our foreign reserves will be maintained and if it is maintained, our currency will improve. “I don’t think that life will be bleak because what our country is known for is resilience and people that are extremely hardworking, optimistic and hopeful. “We have all it takes to be a great country. I am quite convinced that the problems we are seeing today will quickly disappear as long as we understand why we are where we are today.” Source: http://dailypost.ng/2016/09/09/nigerias-economic-recession-will-not-last-till-2020-osinbajo/ |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by nototribalist: 1:37pm On Sep 11, 2016 |
we don't want change again. Please handover now!! 5 Likes
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Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by GameGod(m): 1:44pm On Sep 11, 2016 |
Good. God bless our VP |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Nsonso: 1:45pm On Sep 11, 2016 |
Meaning it can last as long as 2019. U need a knock on the head while Buhari deserves lashes of cane, say 50, for resetting and formatting. 8 Likes 2 Shares |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by missKiffy(f): 1:48pm On Sep 11, 2016 |
It had better not last till next year sef |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Shiitposter: 1:52pm On Sep 11, 2016 |
And this is supposed to be Goodnews? I know this government purposely put us in a recession so that a year before the election they will rectify the economy and act like they did us a favour. I Hate this Government. 4 Likes 2 Shares |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Explorers(m): 1:57pm On Sep 11, 2016 |
Hmmmm.....It is well. |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by collinsVP: 1:59pm On Sep 11, 2016 |
No rational person expects you to agree with Agbakoba. You are protecting your interest. I pray it improves too. |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Firefire(m): 2:05pm On Sep 11, 2016 |
“We have all it takes to be a great country. I am quite convinced that the problems we are seeing today will quickly disappear as long as [s]we understand why we are where we are today.[/s] the dead-brain Dularpoo allow the experts to do their jobs without interference” 1 Like 1 Share |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Firefire(m): 2:06pm On Sep 11, 2016 |
Shiitposter: This is another hypothesis... |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by PassingShot(m): 2:06pm On Sep 11, 2016 |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Bitterleafsoup: 2:20pm On Sep 11, 2016 |
Zombies will soon come here defending dey Master of the Hunger Games Zoohari. Nobody in that administration has the experience and knowledge to fix this economy. They are all blood sucking leeches. We need a party of youth for the youth by the youth. 2 Likes 2 Shares |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Nobody: 2:23pm On Sep 11, 2016 |
Two "economic" lawyers Useless government 2 Likes 1 Share |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by anibi9674: 2:36pm On Sep 11, 2016 |
it better not last beyond this year, but if it mistakenly gets to 2018 then you cab as well kick your sorry ass good by from aso Rock. |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by Jesusloveyou: 2:40pm On Sep 11, 2016 |
this is the govt of the people, always getting things right |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by SycophanticGoat: 5:19pm On Sep 11, 2016 |
Bitterleafsoup: Doghari will rule beyond 2019 simply because we have too many numbskull bigots ready to die for him.. Doghari is a clueless buffoon - mynd44, 2016... |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by SycophanticGoat: 5:22pm On Sep 11, 2016 |
anibi9674: You think you can vote such a power drunk demon called Buhari out of office? Think again.. |
Re: Nigeria’s Economic Recession Will Not Last Till 2020 – Osinbajo by SycophanticGoat: 5:26pm On Sep 11, 2016 |
Nsonso: Please ensure you lace that cane with enough Cameroon pepper to spice up the punishment... 1 Like |
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