Osinbajo spoke with State House correspondents on Sunday after the Christmas Service at Aso Villa Chapel where he delivered the sermon.
According to him, the celebration is good news because Jesus Christ offers himself for the sins of man.
“My message is the message of Christmas which is the birth of the new covenant; the birth of Grace; God’s Grace and mercy is what we celebrate today because the birth of Jesus Christ is the birth of the Grace of God.
“From the moment Christ was born, God said he was not going to hold us to account for our sins for as long as we believed in what he did; the sacrifice of Jesus Christ; Jesus Christ came to pay in full for all of our sins.
“So, really why we celebrate is because this is good news; before, we had to pay for our sins; the consequence of sin we have to bear.
”This is because we always continue to sin; but Jesus came to substitute all our unrighteousness and replace it with his own righteousness so long as we believe him.
“So, it is a celebration of joy and a great relief; that is why it is called the good news,’’ he said.
On his part, Pastor Seyi Malomo, Chaplain, Aso Villa Chapel, said that Jesus Christ is a bringer of the new covenant; the covenant of Emmanuel; of God with us.
According to him, one who has God lacks nothing.
“What’s most important is when you have God on your side; things are definitely bound to improve.
“And as we go into the New Year, with God on our side, no matter how and whatever may be the negative forecast of people, we know that God who goes ahead of us; will make the crooked place straight.
“He will make the rough edges smooth; he will level the mountains and elevate the valleys and he will give us victory.
“Peace is for us in Jesus' name,’’ he said.