Osinbajo has described the present state of the economy and corruption as one of the reasons Nigerians are facing hardship.
Speaking in Port Harcourt, the Rivers State capital on Tuesday during a town hall meeting with the members of the All Progressives Congress (APC), acting President, Prof. Yemi Osinbajo, described corruption as one of the reasons Nigerians are facing hardship disclosing that corruption had been in the country for many years and contributed a lot to the economic challenges affecting Nigeria, also attributed the country’s current economic woes to the continued attack on the nation’s oil facilities.
The Acting President, also explained that the Buhari-led Federal Government was investigating a $15bn defence contract, Osinbajo stated that the disappearance of such an amount would lead any country into hardship.
“It is easy for people to say that times are hard. One of the reasons things are hard in the country is the corruption that has been in the system for years.
“At the moment, we are investigating the $15bn defence contract award. If $15bn disappeared when you have a reserve of $30bn, there is no way there will not be hardship.
“The other thing is the destruction of pipelines and facilities. Oil prices fell by half, then we started losing one million barrels a day, 60 per cent of revenue. There is no way there will be no recession.”
He expressed optimism that with the prudent management of the nation’s resources, the country would move out of its current economic challenges.