FG Promises Sweeping Reforms To Boost Nigeria’s Economy

Nigeria’s Vice President, Professor Yemi Osinbajo, has reiterated the Federal Government’s commitment to sweeping reforms in the critical sectors of the nation’s economy to stimulate economic recovery, growth and progress.

Professor Osinbajo made the promise in Abeokuta, Ogun State’s capital at a public lecture, marking the 10th Anniversary of the Crescent University, a brain child of the former International Court of Justice Judge, Prince Bola Ajibola.

Further Economic Diversification 

While assuring Nigerians that the administration would provide the much needed political leadership through transparency and accountability to grow the economy, the Vice President, however, asked all Nigerians to show understanding and cooperate with the government on its policies and programmes.

Speaking to the young minds about the Nigerian economy, Professor Osinbajo canvassed immediate reforms in the education sector through curriculum adjustment to reflect 21st century’s international best practices, especially in the information and communications technology sector, as a basis for economic development through adequate human capital development.

To stimulate the nation’s economic growth, the Vice President said efforts must be intensified to grow the economy to a double digit from the current 6%, create job opportunities through further diversification of the economy away from crude oil sales.

Emphasising the critical nature of power in achieving genuine economic development, the Vice President said a strategy to ensure adequate gas supply to power generation stations across Nigeria was being worked out by the government to improve power for domestic and industrial development.

Despite the many economic challenges facing oil-rich nation, Professor Osinbajo expressed optimism that there would be renewed hope at the end of the day.