Acting President Yemi Osinbajo has on Monday acknowledged that the economy had proven to be the biggest challenge of all.
Osinbajo stated this in a nationwide broadcast to mark the second anniversary of President Muhammadu Buhari’s administration and 2017 Democracy Day celebration.
“Let me first express just how concerned we have been since this administration took office, about the impact of the economic difficulties on our citizens.
“Through no fault of theirs, some companies shut down their operations; others downsized. People lost jobs and had to endure rising food prices.
“In some states, civil servants worked months on end without the guarantee of a salary, even as rents and school fees and other expenses continued to show up like clockwork,” he stated.
Osinbajo also said the federal government have been extremely mindful of the many sacrifices that it had to make over the last few years.
“And for this reason, this administration’s work on the economic front has been targeted at a combination of short-term interventions to cushion the pain, as well as medium to long term efforts aimed at rebuilding an economy.
“The economy is no longer helplessly dependent on the price of crude oil.’”
According to him, the short-term interventions include putting together a series of bailout packages for state governments to enable them bridge their salary shortfalls, an issue President Buhari has consistently expressed his concerns about.
Osinbajo revealed that the government had also begun the laying a framework for its Social Intervention Programme, which he described as “the most ambitious in the history of the country”.topics from