Osinbajo Laments Over Poverty Rate, Economic Crisis

Vice President Yemi Osinbajo has through a statement by his spokesman, Laolu Akande, decried the poverty situation in the country, as well as the economic distortions and hardship.

The Vice President noted that all of these have been caused by the COVID-19 pandemic, adding that they are deepening daily.

He said it was therefore important 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 which was presented on the Economic Sustainability Plan at the First Year Ministerial Performance Review Retreat at the Presidential Villa 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 favoured by time, every single day, the poverty situation and the economic distortions deepen.”

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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.

He said under the mass agriculture programme, the government had enumerated four million farmers.