Vice President Yemi Osinbajo on Monday declared that militants in the Niger Delta caused the ongoing recession in the country.
His views are different from President Muhammadu Buhari, who during the Sallah celebration in Daura, Katsina State, attributed the economic mess to the bad governance of the country by the People’s Democratic Party (PDP) for 16 years.
The President had said that he inherited nothing from the PDP. But when he hosted the Quarterly Business Forum with private sector operators at the Banquet Hall of the Presidential Villa, Abuja yesterday, Osinbajo underscored the heavy blow the economy suffered from the activities of the Niger Delta militants, which has halved the country’s crude oil production.
While pledging the government’s readiness to address power sector challenges, Osinbajo, however, said it would require a “revolution” to shore up electricity supply to an adequate level nationwide.
He said: “Perhaps it’s important for us to understand the nature of this recession in which we have found ourselves. In discussing this issue of recession, there is the tendency for people to generalise, a lot depends on what sort of recession and how we got here.
“If we did not have vandalism in the Niger Delta region as we are currently suffering, we will not have this recession today,” he said. “Moreover, in looking at the solutions, we should try to focus on the type of problem we have and what instigated it; then we can begin to come up with better solutions,” Osinbajo said.
He further explained that “we are doing a whole lot by interfacing with the private sector because we realise their role in the economy.