Recession: Vice President Blames Militants
Vice President Yemi Osinbajo[/caption]
The Vice President Yemi Osinbajo, on Monday, blamed the militants in the Niger Delta for the current economic recession the country is facing.
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.
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Osinbajo also said the Federal Government did not envisage that there will be a huge drop in the production of crude oil.
He attributed the drop in production to the constant bombing of pipelines by militants in the oil rich region.
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 tendency for people to generalize. A lot depends on what sort of recession and how we got here.
“If we did not have vandalisation 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.”
