Poverty, economic crisis deepening daily, Nigeria’s VP Osinbajo cries out

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Nigeria’s Vice president Yemi Osinbajo on Monday lamented that the poverty situation in the country, as well the economic distortions and hardship caused by the COVID-19 pandemic are deepening daily.

(L-R) Nigeria’s Vice president Osinbajo and Nigeria’s President Buhari

The Vice President revealed this in his presentation on the Economic Sustainability Plan at the First Year Ministerial Performance Review Retreat at the Presidential Villa, Abuja on Monday. The statement was made known on Tuesday by his spokesman, Laolu Akande.

Osinbajo said it is urgent for relevant ministers and other key actors to expedite action on the N2.3trn stimulus package designed by the government to mitigate the effect of the crisis on the economy.

The statement was titled, ‘VP to ministers at retreat: The N2.3trn stimulus package must be implemented quickly’.

The statement quoted Osinbajo as saying, “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 favored by time, every single day, the poverty situation and the economic distortions deepen.”

Osinbajo was further quoted as saying that the only way out of the current problem was to fund production, enable consumer spending so that people can go and buy things, and we to put money in people’s hands.

Nigeria’s inflation rate rises to 12.82% as food prices soar


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