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Good news: Osinbajo names those who can bail Nigeria out of recession

– Vice-President Yemi Osinbajo says partnership with the private sector will help the government deliver its economic agenda

– Okechukwu Enelamah, minister for investment says the government is making efforts to partner with the private sector

The vice-president of Nigeria, Yemi Osinbajo, has said there will be 7,000 megawatts of electricity by next year.

Osinbajo has said the budget size was not big enough to have a huge difference in the nation’s economy.

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Vice-President Yemi Osinbajo has said the private sector has a big role to play in the nation’s economy.

READ ALSO: Dangote pledges to assist FG to cushion recession

Osinbajo who is the chairman of the economic management team spoke on the role of the private sector in the economy during a tour of some firms in Sagamu, Ogun state on Thursday, December 1.

According to the Punch, the vice-president said the federal government believes that there is no way of delivering on its economic agenda without a serious partnership with the private sector.

He said the budget size was not big enough to have a huge difference in the nation’s economy.

Our entire budget size for 2016 is something in the order of just over N6trillion and we will probably be moving to about N7 trillion in the 2017 budget.

READ ALSO: Saraki decries non-implementation of budgets

“But N7 trillion is certainly not the kind of money, it does sound like a fair amount of money, but certainly, it is not the kind of size that can really make a huge difference in a N90trillion economy such as we have,” Osinbajo said.

The federal government is also making efforts to partner with the private sector as Nigeria continues to battle recession.

Okechukwu Enelamah, minister for investment, industry and trade noted the government is also keen on attracting foreign investment. 

According to him, President Muhammadu Buhari recognised the need for the government to attract foreign investment in order to regain momentum in the face of the plunging naira.

Meanwhile, spokesperson to President Muhammadu Buhari, Mr Femi Adesina, has admitted that the presidency underestimated the problems facing Nigeria when they assumed office. 

Adeshina made the comment while speaking as a guest on a television show ‘Seriously Speaking’, aired on Channels Television on Monday, November 28.

Adeshina also encouraged Nigerians to trust the present administration, saying they mean well and are always sincere with their actions.

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