January 24, 2018

I've Never Thought Of Running For Presidency - Osinbajo

10 October 2017, 10:38 | Silvia Roy

I've Never Thought Of Running For Presidency - Osinbajo

Royal flutists perform during the mass wedding of 1,520 couples at the city's central mosque

Vice President Prof Yemi Osinbajo Tuesday assured the business community and Nigerians in general that the challenge of multiple Customs checkpoints, especially along the eastern axis will be looked into as government remains committed to creating a conducive investment climate in the country.

The group had noted that Nigeria now "has a leader who has a clue about what to do and (how to) turn Nigeria to a beloved land of our dreams".

"Government is dealing with the constraints of power distribution to ensure generated power get to the consumers".

A Nigerian national newspaper, the Punch quoted Osinbajo as saying at the event that the Nigerian Government invested N1.3tn in infrastructure in 2016, making it the largest capital spending in the country's history and that the government was ready to increase the figure in the 2018 budget.

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Speaking to a global audience made up of worldwide business leaders, investors, public sector officials, media gurus and intellectuals, the Vice President noted that "the outlook going forward is quite positive based on improvements in oil prices and production and the trend of leading indicators such as positive purchasing managers indices, a revived stock exchange and increasing foreign exchange reserves".

The economy will probably expand by 0.8 percent this year, according to the International Monetary Fund, as the oil sector improves and the central bank eases foreign-exchange restrictions introduced in the wake of shortages in 2015.

"We are moving steadily towards self-sufficiency in rice production, sorghum and many other products that are vital to the country's food security aspirations and exports. The N-power programme for unemployed graduates has employed already 200,000 graduates and another 300,000 are set to be recruited for this current phase".

Osinbajo also said that militants in the oil-producing Niger Delta Region no longer posed a significant threat to oil production.

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From daily loss of over one million barrels of oil a year ago, the Vice President said the series of engagements initiated by government led to the restoration of oil production to over two million barrels per day.

He said government can not to allow the implementation of the ERGP to fail, adding that the summit was a forum to strengthen its partnership with private sector towards its success.

"Capital importations have doubled in the last four months", evidence that the currency policy is working, Osinbajo said.

The plenary topic is: Opportunities, Productivity and Employment: Actualising the Economic Recovery and Growth Plan.

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