The Vice-President of Nigeria PROF.Yemi Osinbajo, allayed the fear of
Nigerians over the current economic recession in the country, saying it
would not last.
He stated that the Federal Government had already put in place
mechanism that would tackle the economic recession, which he said would
soon fizzle out, thereby puting an end to financial hardship being faced
by the people.
Osinbajo gave this assurance at the convocation ceremony of the Redeemer’s University, Ede, Osun State.
He observed that there was no way the nation could have escaped
economic recession, having lost 60 per cent of its revenue in February
to the activities of saboteurs in Niger Delta, who he said destroyed oil
pipelines and installations.
While also attributing past mistakes of Nigerian leaders to the
economic woes, Osinbajo tasked the youths to engage in multitask, with a
view to break even against the backdrop of the global economic
dynamism.
He stressed the need for universities’ graduates to be diligent, by
exploring various international trading platforms to improve their
economic status.
In a lecture entitled: “Nation Building and Nigeria’s economic
challenges,” a global economic analyst, Mr Dick Kramer, said the country
was in recession because it had failed to build a strong private
economy over the years and also failed to create an economy based on
industries.
He observed that the global economy had been relatively weak in the
last 18 years, he contended that Nigeria needs a new longterm economic
plan which must entail fostering an effective public-private
partnership.
Speaking at the convocation ceremony, former Minister of Defence,
General Theophilus Danjuma, called for serious investment in the
education system, in view of its impact on socio-economic development of
the country.
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