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Nigeria back on the path to recovery – FG

The Vice-President, Prof. Yemi Osinbajo, says Nigeria is on the path of taking its place among the comity of nations with various developmental programmes ongoing in different sectors of the country.

Prof. Osinbajo made the assertion at the 2017/2018 50th convocation lecture of the university of Lagos, with the theme “Nigeria rising: the path to prosperity’’.

According to him, the most crucial pillar of any government’s economic policy should be the improvement of human resource, noting that, a total of 60 per cent of the country’s GDP figures depends on oil. The oil sector itself contributed 10 to 12 per cent, while the rest is contributed by the non-oil sector.

The professor of law said the only affluent people in the current economic dispensation were the professionals whom, he said, were able to plug into the rent-seeking opportunities brought by high oil prices.

He noted that the average citizen could not because when the oil prices fall, not only does GDP fall, but the wealth of these affluent people is wiped out.

According to him, plans were on by the current administration to completely democratize access to innovation.

He noted that it was important too that government would be able to put in place, an educational system that would take care of practically every one.

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