VP blames pipelines vandalism for economic recession
Yemi Osinbajo has blamed pipeline vandals for dragging the Nigerian economy into recession with their activities.
Vice President Yemi Osinbajo
Recommended articles
Answering questions from journalists in Abeokuta on Sunday, September 11, 2016, Osinbajo said almost 60 per cent revenue has been lost due to the activities of pipelines vandals in the Niger-Delta.
Osinbajo also disclosed that the nation has lost almost 40 per cent of the gas but expressed optimism that the country would soon overcome its challenges.
He said: “One of the key reasons why we are in recession is the fact that we lost about 60% of our revenue due to the vandalization of the pipelines on the Niger/Delta and we lost almost 40% of the gas.
ADVERTISEMENT
ALSO READ: "Buhari feels your pains," says Osinbajo
“I have a strong belief that by the grace of God, we will be able to resolve that. Once we are able to resolve that, we would at least be able to earn more revenue. If revenue grows up, it is an added advantage,” he said.
Osinbajo also disclosed that the Federal Government has began diversifying into agriculture and solid mineral in its bid to revive the economy.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Cross River Govt to deworm 886,292 school children, 173k for SCH treatment
KADIRS shuts down UBA branches in Kaduna over unpaid ₦14.3m tax
Since death is inevitable, embrace it with great expectations - Cleric advises
FULL LIST: 7 best African cities to live in 2024
Detained Binance executive's bail hearing adjourned to May 17 by Abuja court
Nollywood actor Pawpaw joins Army to promote responsible social media use
Nigeria lost $706m to cybercrimes as EFCC closes 300 bank accounts
UNN suspends lecturer over alleged sexual harassment of student
Tourist falls into a volcano while posing for photos with husband
ADVERTISEMENT
![Aliko Dangote and Tinubu [NAN]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Aliko Dangote and Tinubu [NAN]")