Friday, 2 December 2016

“2017 N7Trillion Budget Will Not Do Anything for Nigeria” – VP Osinbajo

Vice President of Nigeria, Prof. Yemi Osinbajo has revealed the proposed N7 trillion budget for next year will not do anything to bring Nigerians out of recession as it would not make a huge difference in Nigeria’s N90 trillion economy.
Speaking at a programme organised by Honeywell Group in Sagamu, Ogun state, yesterday, December 1st, Osinbajo said President Muhammadu Buhari has spoken about diversifying the economy.
He said:
“Our entire budget size for 2016 is something in the order of just over six trillion naira, and we will probably be moving to about seven trillion in the 2017 budget. But seven trillion is certainly not the kind of money, it does sound like a fair amount of money, but certainly, its not the kind of size that can really make a huge difference in a ninety trillion naira economy such as we have,”
“So the real issue is that, the contribution of the federal government, is catalytic, the federal government can only make some catalytic contributions in terms of infrastructure, and some incentives for the private sector.
“The real contribution is going to come from the private sector and that’s why these partnerships are absolutely important to us, and what we are looking at is some game-changing type of projects, such as we have here.”


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