Osinbajo Blames Economic Hardship In Nigeria On COVID-19

Vice President, Prof. Yemi Osinbajo on Tuesday decried the increasing economic hardship caused by the COVID-19 pandemic in Nigeria.

He, therefore, charged the relevant ministers and other public officials to expedite action on the N2.3trillion stimulus package put together by the Federal Government to mitigate the effect of the pandemic on the economy.

Osinbajo, according to a statement made available to theeditorngr.com by his Senior Spokesman, Laolu Akande, stated this at the First Year Ministerial Performance Review Retreat held at the Presidential Villa, Abuja.

Osinbajo said: “We are already in Day 67 since the plan. Nothing is going to happen by magic, we have to simply do this stuff.

“We have to ensure that we have the money and ensure that day by day, we are measuring our achievements and trying to ensure that we do the things that we need to do. And we simply are not favoured by time, every single day the poverty situation and the economic distortions deepen.

“The only way out of the current economic problem is to fund production, enable consumer spending so that people can go and buy things, and we to put money in people’s hands.”

He said under the mass agriculture programme, the government has enumerated four million farmers.

The vice president also revealed that the government would build 300,000 homes across the country under the mass housing programme.

He added: “Agriculture requiring N637.2billion funding will provide 5,000,000 jobs, the solar power project funding requirement is N152.4billion and will provide 250,000 jobs, the mass housing programme with a funding requirement of N217.3billion is expected to create 1,500,000 jobs; while public works funding is N52billion to provide 774,000 jobs: and N100billion is required to provide 500, 000 jobs in the SMEs.”

 

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