Vice-President Yemi Osinbajo is in the U.S. to deliver a lecture at the Harvard University, Boston, U.S. on “Africa Rising” course at Harvard Business School.
Osinbajo, while at Harvard, would also engage in marathon meetings at the Ivy League school.
Harvard described the lecture as a historic moment as it would be the first time that an Africa-focused course would be offered at Harvard Business School.
In extending the invitation to Osinbajo, Harvard noted that it deeply admired the immense progress that Nigeria had made under the administration of President Muhammadu Buhari.
The university specifically noted the work of the Presidential Enabling Business Environment Council, which the vice-president chairs.
The university said: “It would be the highest honour for us were you to accept our invitation as we deeply admire the immense progress that Nigeria has made during your tenure.
“Not only as the country’s Vice President, but also as Chairman of the Presidential Enabling Business Environment Council.
“By all accounts, this Council has spearheaded crucial initiatives and we very much hope that you will speak to those, as well as to Nigeria’s rise in world economic rankings and the vast range of business initiatives that are ongoing in your country.”
The vice-president is expected to, during the lecture, highlight the progress made by the present administration in improving the country’s economy and investment climate.
Osinbajo had in October 2016 delivered a lecture at the university’s ‘Nigeria in the World’ seminar also at the invitation of the university.
The vice-president spoke on: ‘Destroying Boko Haram and the Rebuilding of Nigeria’s North-East’.
While at Harvard, he would hold meeting with Margot Gill, the Harvard University Marshall and Prof. Emmauel Akyeampong and the Centre for African Studies Affiliates at Centre for African Studies at the university.
He also would have lunch with the Harvard Law School Students and Faculty at the Harvard Law School.
Osinbajo would then hold meeting with Prof. David Wilkins and tour the Centre on the Legal Profession and Nitin Nohira, Dean, Harvard Business School at the university.
The vice-president would later have dinner with MBA students, Harvard Business Faculty and Harvard Business School Alumni from Africa.
Vice President Yemi Osinbajo Monday expressed shock at claim by Benue State Governor, Samuel Ortom, that he (Osinbajo) was warned ahead of the January 1 killings in the state.
In a statement issued by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, Osinbajo described as “a terrible falsehood” claim that he was never informed by the governor or anyone else about the killings.
The statement reads: “Governor Ortom wrote to the Vice President, then Acting President on 7th June 2017 protesting a newspaper publication where the leadership of Miyetti Allah was reported to have stated that it was opposed to the open grazing prohibition law of the state and that they would mobilise to resist the law.
“The Miyetti Allah had written to the Vice President on the 5th of June 2017 on the same law protesting several sections of the law.
“The governor went on to say that the leadership of Miyetti Allah should be arrested because they used words such as ‘wicked, obnoxious and repressive,’ to describe the law, and because these were ‘utterances that are capable of undermining the peace.
“The Vice President subsequently met with the governor, discussed the matter and the security situation in the state and then ordered law enforcement agencies to be on the alert to prevent any attacks or violence. This was in June 2017.”
The statement noted that in the said letter written by the governor, there was no mention of any threat to any specific one of the 23 local governments of the state.
It said the best the law enforcement agencies could do then was to await information or intelligence of an imminent attack and none of such came.
The Osun State government has hailed Vice-President Yemi Osinbajo and Oyo State Governor Abiola Ajimobi for their high sense of commitment to the actualisation of Southwest’s development agenda.
The state also lauded the impact Southwest governors have made on the Development Agenda for Western Nigeria (DAWN) commission, as well as stakeholders, youth associations and individuals on the success of the two-day Southwest Regional Youth Summit in Osogbo, the capital.
In a statement by the Media Adviser to Osun State governor, Mr Sola Fasure, at the end of the weekly State Executive Council (Exco) meeting in Osogbo, the government expressed satisfaction with what it called the impressive participatory strength and large turnout of notable personalities within and outside the region.
It described the presence of Osinbajo at the summit as “encouraging”.
The statement said: “Council received the report of the successful hosting of the Regional Youth Summit in Osogbo by the Development Agenda for Western Nigeria (DAWN) Commission and the state government, between January 9 and 10, which attracted participants from all the states in the region.
“Council commended the organisers of the summit and thanked the participants, particularly Vice-President Yemi Osinbajo, who delivered the keynote address; Senator Abiola Ajimobi, the Governor of Oyo State; Ondo State government, ably represented by the deputy governor; Ogun State government, which sent a delegation, and the youth organisations and individuals that attended the programme.”
The Peoples Democratic Party (PDP) on Friday told the Federal Government to shelve any plan to increase the pump price of fuel of N145 per litre.
National Publicity Secretary of the party, Mr. Kola Ologbondiyan, said any increase in price now would not only be criminal but inhuman and completely unacceptable to Nigerians.
The opposition party claimed that the Federal Government has not been telling Nigerians the truth about oil-related issues while using the Nigerian National Petroleum Corporation (NNPC) to bandy figures to deceive the people.
It said:”Instead of putting more burden on the people, the APC Government should come out clear on sleazes in the oil sector under its watch, particularly the shady oil subsidy payouts and illegal lifting of N1.1 trillion worth of crude using unregistered companies.
“Any increase in fuel pump price would be an indirect tax on Nigerians to fund APC interests and considering the pains Nigerians have suffered under this inept and unfeeling Government, this intended hike will be callous.
“It is now clear to all that this APC- controlled government will never act in the interest of Nigerians. All the actions and policies of APC, in their close to three years in office, have been targeted against Nigerians and there are no signals that they will change.
“We, therefore, urge Nigerians to reject this plot to raise the prices of petroleum products even as they gear towards using the next election to end the misrule of the APC.”
Vice President Yemi Osinbajo has said that the President Muhammadu Buhari administration is committed to promoting the establishment of privately financed modular refineries in the country.
This, he said, will increase local refining capacity, create jobs, ensure peace and stability in the Niger delta region.
A statement by the Senior Special Assistant on Media and publicity, Laolu Akande, said that the initiative which featured prominently in recent talks between the Federal Government and the oil-producing areas, as represented by PANDEF, will also reposition the petroleum industry and ensure self-sufficiency of petroleum products, while serving as a disincentive for illegal refineries and oil pollution.
According to the statement released on Saturday, he said “At an end-of-the-year review meeting of the Niger Delta Inter-Ministerial Committee at the Presidential Villa, Abuja, before the holidays, Prof. Osinbajo noted that the Federal Government, in line with its Niger Delta New Vision, is targeting measurable objectives in its efforts towards implementing development projects in the region.
“The December 22 meeting received a report that 38 licensed privately financed greenfield and mini-modular refineries investors have so far indicated interests in the establishment of refineries in the region, and at least ten (10) of the licensed refineries investors are at an advanced stage of development.
“The advanced stage of development means that these projects have passed the Licence to Establish (LTE) stage, while some have the Authority to Construct (ATC) licence or close to having it because they have met some critical requirements in the Licensed stage.
“There are three stages in the process of refinery establishment; Licence to Establish (LTE), Authority to Construct (ATC) and Licence to Operate (LTO).
“So far, 10 modular refineries are located in five out of the nine states in the Niger Delta region; namely Akwa Ibom, Cross River, Delta, Edo and Imo states.
“Also, two out of these 10 – Amakpe Refinery meant to be located in Akwa Ibom, and OPAC Refinery to be based in Delta State – have their mini-refineries modules already fabricated, assembled and containerized overseas, ready for shipment to Nigeria for installation. The total proposed refining capacities of the 10 licensed refineries stands at 300,000 barrels.” it added
Noting the issue of funding as a major challenge to most of the investors, and the primary reason holding further progress of the refinery projects, the Vice President directed that the Federal Ministry of Petroleum Resources keep providing the necessary support and creating the enabling environment for positive investments in modular refineries by engaging key government agencies
The agencies include the Niger Delta Development Commission, NDDC, Nigerian Content Development & Monitoring Board, NCDMB, and financial institutions, including the International Finance Corporation, African Export-Import Bank (Afreximbank), Nigerian Sovereign Investment Authority, Bank of Industry, amongst others.
The Vice President stressed the importance of ensuring that the oil communities have a stake in the modular refineries and directed that an appropriate model be developed to achieve that.
Other issues addressed at the end of the year meeting include the Maritime University, Ogoni Clean-up, and other related issues such as increasing support for Small and Medium-sized Enterprises (SMEs) in the region.
On the Maritime University take-off, the Vice President noted that further support would be given by the Federal Government to ensure the training of staff to give the best to the incoming students of the institution.
On the Ogoni clean-up, the Project Coordinator for the Hydrocarbon Pollution Remediation Project, (HYPREP), Dr. Marvin Dekil briefed the meeting that progress has been made in several areas of the clean-up.
He listed the evaluation of existing water facilities in the four local government areas in Ogoni land in the process of providing clean drinking water, demonstration of remediation technologies at sites in some of the impacted communities; hiring of and the technical training of Ogoni scientists. The Coordinator added that health impact assessment would be conducted in some communities in the coming weeks.
At the meeting were the Minister of Niger Delta Affairs, Usani Unguru Usani; Minister of Education, Alhaji Adamu Adamu; Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Minister of State for Environment, Ibrahim Usman Jubril.
Others include the Director-General of Nigeria Maritime Agency (NIMASA), Dr. Dakuku Peterside; Managing Director, Niger Delta Development Corporation, Mr. Nsima Ekere; and the Special Adviser to the President on the Presidential Amnesty Programme, Brig-General Paul Boroh (rtd).
While some so-called leaders continue to feed fat in the comfort of their high-walled mansions, oblivious of the sufferings of the common man, Vice-President Yemi Osinbajo is not cut from such ignoble stock. From the embattled motorist fighting for fuel at filling stations to the street hawker and roadside beggar, no one is exempted from the circumference of his compassion.
Thus, as the nation groans under the yoke of fuel scarcity and the attendant hike in the cost of transportation, the affable Vice-President was on the streets of Lagos cheering up forlorn motorists and soothing their worries; promising them that the latest ordeal will soon be over.
Round and round the metropolis he went, a balm for pained hearts, visiting fuel stations, including Oando and Hayden Oil, listening to the people’s complaints and allaying their fears. He was a sun interminably peeping out from a clouded sky, a momentary source of relief from the pervading gloom occasioned by the scarcity of Premium Motor Spirit (PMS).
Although there was little he could do on the day to assuage the people’s pains, his presence went a long way towards giving the people hope that the suffering they are going through in this festive period has not gone unnoticed by the powers that be.
It is interesting to think of Nigeria as an overweight giant with unkempt beards irregularly scattered all over his face (at least we like to pride ourselves as THE GIANT OF AFRICA). Even an overweight giant becomes a burden to itself.
Giant of Africa?
His excessively rotund and roly-poly body is as a result of the over-consumption and excessive reliance on a particular kind of food nutrient.
He likes to drink oil and smoke gas.
Quite frankly, no human species can survive or thrive with that kind of dietary equation; in fact, such a one is a disaster waiting to happen.
After the discovery of fossil oil at Oloibiri area of Bayelsa in 1956 in commercial quantity, petroleum industry in Nigeria became the largest industry.
Oloibiri
Oil, therefore, supplied approximately 90 percent of foreign exchange earnings and about 80 percent of federal revenue and contributes to the growth rate of Gross Domestic Product (GDP) of our economy.
The oil boom of 1970s made Nigeria rely heavily on crude oil and natural gas for its continuous supply of economic diet. Crude oil has since then become the darling of our nation; she received preferential treatment to the detriment of our first love (Agriculture).
Eventually, agriculture which in times past earned us at least 70% of our foreign exchange deteriorated very fast because our policy wonks became derelict in their sacred obligations to her (Agriculture).
Today, the salubrious broth called crude oil has started to turn sour and rendered our taste buds sore. Significant precincts of oil-rich regions are no longer habitable due to oil spillage.
The persistent groundswells of legitimate agitations and destructive activities by militants in the Niger Delta have almost crippled the economic wheels of our dear country.
The bludgeoning and bloodying of our nation’s “economic head” by corrupt practices and sleazes in the public and private sectors are all a part of the curses and crosses emanating from our overreliance on crude oil.
It is shameful that we still grovel at the feet of crude oil when countries on the global pedestal have begun to embrace and deliberately fade out their reliance on it by cannibalizing and diversifying other sectors.
Thespians in the crude oil intoxication Melodrama
The thespians
Our ludicrous fixation on oil further deepened as we now have a President in the person of Muhammadu Buhari, who shuttles between his primary role as the chief executive helmsman of the Federal Republic of Nigeria and the substantive Minister of Petroleum.
However, when we thought that we have heard and seen the last of the behavioural debauchery that took place in past administrations from crude oil intoxication, the recent wrangling between the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti K. Baru regarding the alleged awarding of contracts without due consultation with the minister betrayed our gullible optimism.
The melodrama became even messier when the Vice President, Prof. Yemi Osinbajo debunked widespread statements that he approved the said sum as the Acting President during the period Muhammadu Buhari was on his medical vacation. Regardless of who is right or wrong, the obvious solution is a total overhaul and sanitation of the inherent tacky climate in the oil sector.
Sad yet is the fact that the President’s Chief of Staff, Abba Kyari is a member of the Board of Directors of the NNPC, according to legal experts, this is wrong in its totality. Unfortunately, this and much more have been handled like nothing is happening.
If truly our President intends to be involved personally, operationally and officially in the development of the Nigerian project, then he should hands-off the oil ministry as its head, and get a hands-on on some ministries like Agriculture, Health and Education – all of which are in dare need of a state of emergency.
If Nigeria perpetuates in this state of plateau; posturing itself as the biblical “fig tree”, it might eventually fall like the proverbial humpty dumpty for overreliance on oil “blocks”.
While the world is running, jumping and jetting into the future with precise plans and ground-breaking innovations in Science, Technology, Medicine, Agriculture, Art etc., Nigeria is busy performing the “moon walk” and sliding backward very fast into antiquity.
It is heartbreaking that our country is still unnecessarily dependent on fossil deposits that have become more or less a curse and an albatross to us as a nation instead of a great vault of opportunities to all and sundry.
Death and burial of crude oil
A Resident fetching Crude Oil from leakage at Adibawa Well 8 in Edagberi Community in Rivers State.
It is instructive to note that countries like Norway, India and France have decided to stop the exploration and production of crude oil by year 2025, 2030 and 2040 respectively in order to combat the deleterious and hazardous effects of climate change.
There seems to be a growing movement by these countries to force the extinction of vehicles that run on fossil fuels. They have resorted to the production of electric cars and the complete obliteration of petrol and diesel-driven engines.
Volvo Cars became the first mainstream automaker to sound the death knell of the internal combustion engine, saying that all the models it introduces starting in 2019 will be either hybrids or powered solely by batteries.
Their goal is to drive a sharp stake through the heart of carbon emissions; the boogeyman whose corollary effects manifests as global warming, depletion of the ozone layer and its other destructive appurtenances.
European countries like England, France, Norway, Denmark, the Netherlands, and Germany are making definitive moves away from the use of fossil fuels. They have completed plans to announce the death and burial of the era of fossil domination.
Big car manufacturers like Tesla, Volvo, Renault and the PSA Group are beginning to embrace alternative sources of powering cars through electric, solar and battery.
The repugnant smell of doom and gloom
On a macro scale, what are the economic implications of these decisions by some of the stakeholders and key players (countries and car companies) in the crude oil space on the African continent, heck!…on Nigeria? What will be its effect on our social, political and cultural survival?
Before reaching any hasty conclusions, it is important that we understand the sundry contributions of the oil sector to our nation.
Also, how bright will the future earnings of Nigeria be? Nigeria being a member of The Organization of the Petroleum Exporting Countries (OPEC) and the second largest producer of oil in Africa?
Your guess is almost as good as the writer’s.
We would definitely hit a slide due to the sudden drop in the demand for our crude oil.
In retrospect, when the price of oil fell from highs of about $112 a barrel in 2014 to below $50 in 2016, Nigeria was thrown into recession. It is, therefore, better imagined what will happen to Nigeria if European and Asian countries completely deviate from fossil fuel dependence to other healthy alternatives like electricity and solar, knowing fully well that Crude oil sales account for 70% of government income.
Although government have had tiny sparks of successes in several non-oil sectors like agriculture, however, it seems all we can boast of at best are “tiny sparks” because of poor storage, haulage and management of agricultural produce, which is gradually becoming an embarrassment to our nation especially with the outright rejection of our export agricultural produce in Europe, United States and other parts of the world in recent times. What a shame! We can do better in Agriculture only if we set our minds, hearts and hands to it.
Salvation in the Non-Oil sector?
There is a portion of one of the Holy Books that says: “At least there is hope for a tree: If it is cut down, it will sprout again, and its new shoots will not fail…. at the scent of water it will bud and sprout again like a new seedling.”
There’s hope
Last month, the National Bureau of Statistics (NBS) unveiled the bright figure of 0.55% GDP Growth in the second quarter (Q2) of 2017; this indicated that we are “statistically” out of recession. This momentous declaration by the bureau was a joyous daybreak to millions of Nigerians who had been seared in the flames of poverty and encumbered by the manacles of economic hardship.
However, for us to avoid our “joyous daybreak” reversing into long nights of starvation, those at the helms of affairs of our great country need to latch upon and capitalize on the non-oil sector to bring to us the dividends of democracy.
Below are a few statistics from the NBS:
According to the preliminary results for the second quarter of the year 2017, Nigeria’s economic recovery was driven principally by the performance of four main economic activities comprising Oil and Non-oil (agriculture, manufacturing and trade).
The results showed that Oil GDP recovered significantly from -11.63 per cent in Q2 2016 and -15.40 per cent in Q1 2017 to 1.64 per cent in Q2 2017.
While Oil GDP expanded considerably in the second quarter of 2017, Non-oil GDP only grew at 0.45 per cent, down from 0.72 per cent in the preceding quarter and -0.38 in the corresponding period in 2016.
Agriculture continued its strong and positive growth, which it had maintained throughout the recession, growing by 3.01 per cent in Q2 2017, from 3.39 per cent in Q1 2017 and 4.53 per cent in Q2 2016.
Manufacturing retained its positive growth for the second consecutive quarter in Q2 2017, growing at 0.64 per cent compared to 1.36 per cent in Q1 2017 and -3.36 per cent in Q2 2016.
Trade which has a dominant share of GDP remained negative at -1.62 per cent, but the contraction in the sector decelerated from the -3.08 per cent recorded in Q1 2017.
The results also showed that the industry sector grew positively by 1.45 per cent in Q2 2017, after nine consecutive quarters of negative growth since Q4 2014.
Service = 53.73%
Industries = 23.31%
Agriculture = 22.97%
Does it look like Nigeria’s economic future is bright? Yes! Can we begin to pop Champagne and take a little rest? Absolutely NOT!
Although the oil and gas sector accounts for about 35 per cent of gross domestic product, and petroleum exports revenue represents over 90 per cent of total exports revenue, Agriculture is expected to feature as one of the pertinent driving force in Africa’s economic rebirth and is already ranked among the critical factors contributing towards an increasing curiousity in the continent’s native resources.
It is estimated that over 60 percent of the world’s available and untapped farmland is in sub-Saharan Africa. Interestingly, for Nigeria, agriculture contributes about 22 percent of its GDP.
With the allocation of N92 Billion to the Agriculture sector, and the ubiquitous potentials in other sectors like tourism, entertainment, art and culture, manufacturing, trade and other non-oil sectors of the economy, the government might be able to improve the economic aesthetics of Nigeria.
A few Recommendations
We need to consciously divest our reliance on the oil sector and begin to focus on other non-oil sectors; especially those that are currently driving world economies. For example, in Asia, technology drives the wheel of their economy; in Europe, agriculture does it for them; even as they expand and bolster their technological strength.
Our leaders need to be selfless and sincere in the making of policies that are people-centred and not one to fuel their political and personal agendas.
Also, our Presidents need to eschew the ideologies of heading the oil sectors alongside their executive portfolios. This appears like they have ulterior motives.
Citizens should use the power of their votes to elect fresh and credible individuals with concrete antecedents of leadership and accomplishments. These should be individuals who can clearly enunciate their plans and can galvanise the people towards the achievement of these plans.
We need to invest more in tapping the resources between our ears and not those beneath the ground. In Asia, there are technological schools whose certifications are as valid as those of the universities; making it a viable alternative for everyone to have access to education. The never-ending battle between the B.Sc and the HND is a mere case of “potayto…potahto”; just mere nomenclature. We need to place more premiums on competence instead of certificates.
Moreover, the clamour for true federalism, especially when it bothers on resource control and decentralisation should be placed in the front burner. This will make states more competitive and accountable to their people.
These recommendations (though not exhaustive) are some of the immediate approaches we can engage to move the economic and political wheels of our country.
The Senate on Thursday, postponed deliberation on the proposed withdrawal of one billion dollars from the Excess Crude Account (ECA) by the Federal Government, to fight insurgency and other security concerns across the country.
The action followed an observation by the Deputy President of the Senate, Ike Ekweremadu on the floor of the senate on the matter.
Ekweremadu had observed that deliberation on the matter was slated for Thursday and expressed surprise that it was not listed on the Order Paper.
The senate thereafter moved the matter to the next legislative day, after its recess, following the absence of Sen. Sam Anyanwu who was meant to present the motion on the floor.
In his remarks, Senate President Bukola Saraki, assured the lawmakers that the matter would be treated as a matter of priority upon resumption, adding that it would be listed as first item for consideration.
He said, “The issue would have come up today but Sen. Sam Anyanwu could not present the motion today.
“He pleaded for more time and I agree that we move it to another legislative day, which is when we resume. It will be the first item on the Order Paper.
“It is an important motion that we cannot take if the person that moved it is not here. It cannot be delegated. I assure you that we will take it.
“Our party will not spend money that did not follow due process. I am assuring you that the money will not be spent until we come here and debate on it,’’ he said.
The National Economic Council( NEC ) had last week in its meeting chaired by Vice President Yemi Osinbajo, agreed to withdraw one billion dollars from the ECA to be used in tackling insecurity in the country.
When the State House Press Corps invited Vice President Yemi Osinbajo to a seminar with the theme, “Journalists and Retirement Plans,” there was probably no way he could have avoided speaking about journalists and pre-retirement. Well, he didn’t mince words during the December 18 event at the old Banquet Hall of the Presidential Villa in Abuja.
A report said: “The Vice President recalled his brief encounters working with media houses as legal adviser, and how in all the months he worked he was not paid despite the irregular hours he put in.”
He reached a conclusion based on this discouraging experience. He was quoted as saying: “I realised first of all that this is not a profession from which one could make a decent living in the first place unless you find a really good way of doing so.”
It was a depressing assessment of journalism and journalists. Here was an outsider and observer telling it like it is. What did the insiders think of his directness? Osinbajo went on to say why things are the way they are. According to him,”There are a few reasons in my view why remuneration is poor. The first is that it is just simply cheating. There are owners of media that are just cheats. They just want to get something from nothing and that is not uncommon, it is a general malaise, it is not necessarily restricted to the media.”
Osinbajo lamented that professional associations formed to protect the interest of journalists don’t do enough to tackle media organisations that don’t pay journalists enough or not at all.
His observation about the legal profession didn’t make his observation about journalism any less depressing:”It is also the same in the legal profession. There many lawyers if they tell you what they earn, you will certainly not want to be a lawyer.”
Interestingly, this question of work and pay raised by Osinbajo raises questions at this time that the country is considering fixing and implementing a new national minimum wage. Osinbajo identified a major problem: ”The private sector does not respect the minimum wage. Even if a minimum wage is set nationally, it is not necessarily respected by the private sector and this is something that should be factored in to the status of a company and whether a company is even complying with the requirements.”
It is said that “A worker is worthy of his wages.” It must also be said that a worker’s wages should be worthwhile.
Vice President Yemi Osinbajo says the collaboration of the Federal and state government is crucial to achieving development plans of the country.
He stated this on Tuesday at the retreat of the Secretary to the Government of the Federation with Secretaries to the State Governments held in Abuja.
He noted that the business of governing needs innovations to tackle complex challenges, adding that the two tiers of government were in a better situation to resolve them through partnership.
“But despite the important initiatives and decisions of fg we will achieve little if we do not have relevant state government agencies actively working with the federal government to implement them.
“So, the role of the SGFs is clearly central to cascading the action points and conclusions to the relevant MDAs in their states.
“And this is so, whether we are implementing the federal government’s fertilizer policy or the anchor borrowers scheme in the states.’’
He said that one of the challenges of federalism is that while the federal and state governments enjoy individual autonomy, they must still operate as one government.
He noted that the objective was for the government of the federation to serve the best economic and social interest of the people.
“So when we speak of the Nigerian economy it is the sum of the economies of the federal government and the states.
“Yet each government determines its own priorities, draws its own budget and implements its own programmes and projects.
“So a meeting such as this, where the agenda and modalities for collaboration may be set is in my view an eminently sensible idea and requires the support of all of us if we are to meet the expectations of our people,’’ he said.
The Vice President stated that one of the crucial concerns of the federal government’s economic development agenda was to improve local and foreign investments in the country.
Osinbajo remarked that the SGFs office coordinates the Ecological fund and NEMA that frequently intervened in the states.
He said it was the responsibility of the SGFs office to interface with the states to ensure that such interventions were improved.
