The Vice President, Yemi Osinbajo on Wednesday divulged the programmes and plans of the Federal Government to salvage the economic recession in Nigeria.
He spoke on how empowerment of Nigerians is at the heart of the Social Investment Programmes of the Muhammadu Buhari administration, even though it also has a social welfare component to help the people survive as they are being empowered.
According to a statement by the Senior Special Assistant on Media and Publicity to the Office of the Vice President, Laolu Akande, Professor Osinbajo revealed this in Davos where he is led the Nigerian delegation to the yearly World Economic Forum (WEF).
He also disclosed that the Buhari administration is committed to investing more in infrastructure than in previous times by ensuring that 30 per cent of the budget goes into capital expenditure.
Mentioning that, “it is not difficult to get out of where we are if we understand why we are where we are.”
In addition, he stated that the government is working on how to tap into Nigeria’s huge Pension Fund to finance infrastructure in the country, but said “we have to first derisk” such financing models for infrastructure.
“The Vice President participated and spoke in several events … including a packed international Business Interaction Group of investors focused exclusively on Nigeria. He also spoke at a panel of Building Africa, joined by Rwandan President Paul Kagame, and televised live by the CNBC Africa.”
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