Vice President, Prof.
Yemi Osinbajo, has assured Nigerians that the current economic recession will
not last.
Osinbajo spoke yesterday
at the 8th Convocation ceremony of Redeemer’s University at Ede, Osun State.
The Vice President said
the Federal Government was not unaware of the economic pains Nigerians were
passing through because of the crisis. According to him, with the measures
the government has introduced, the crisis will soon end. He urged the youths
not to despair but to engage in various legitimate tasks that would assuage
their pains to break even.
The Vice President said
there was no way Nigeria could have avoided the recession since it had, in
February, lost 60 per cent of its revenues to economic saboteurs.
He identified pipelines
vandalism as well as the errors of some past leaders as some of the reasons for
the current economic situation.
Osinbajo enjoined young
graduates to be diligent and take advantage of the various international
trading platforms to improve their status.
In
a lecture titled: Nation-Building and Nigeria’s Economic Challenges, a
global economic analyst,
Mr. Dick Kramer said the country was in recession because it failed to build a
strong private economy over the years and create an industry-based economy
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