Office Of The Vice President

Press Release

Managing Resources Better & Providing For The People Properly, Will Move Nigeria Forward, Says VP Osinbajo

*Adds: Geographical restructuring not the problem

In contrast to simple geographical restructuring of the country, prudent management of national resources and providing for the people properly, are better ideas for Nigeria's development challenges, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo who stated this while fielding questions from a cross-section of Nigerians at a town hall meeting in Minnesota, the United States of America on Sunday, spoke on a wide range of issues covering the economy, anti-corruption, health, agriculture among others.

According to the Vice President, “the problem with our country is not a matter of restructuring and we must not allow ourselves to be drawn into the argument that our problems stem from some geographical restructuring. It is about managing resources properly and providing for the people properly, that is what it is all about.”

“I served for eight years as Attorney General in Lagos State and one of the chief issues that we fought for in Lagos state was what you call fiscal federalism. We felt that there was a need for the states to be stronger, for states to more or less determine their fortunes.

“So, for example, we went to court to contest the idea that every state should control, to a certain extent, its own resources (the so-called resource control debate). We were in court at that time up to the Supreme Court and the court ruled that oil-producing states should continue to get 13% derivation.

“While we were at the Supreme Court only the oil-producing states and Lagos were interested in resource control, everybody else was not interested in resource control for obvious reasons. Now, that is the way the argument has always gone, those who have the resources want to take all of it, while those who do not have want to share from others.”

Continuing, Prof. Osinbajo said, “My view is that we must create the environment that allows for people to realise themselves economically because that truly is what the challenge is with our country.”

The Vice President added that Buhari-led Federal Government has put in place an economic structure that is able to function properly despite previous challenges, particularly corruption that led to a slowdown in the economy.

On the impact of corruption on the economy and the solution adopted by the Buhari administration, Prof. Osinbajo noted that “Unless we are able to deal with the fundamental questions especially around corruption, our economic circumstance will keep going one step forward, two steps backwards”.

According to him, “When you talk about corruption in Nigeria, the truth is stranger than fiction. It is the kind of thing that would cripple an economy anywhere because you simply don’t have the resources for the graft and the greed of the numbers of people who want to steal the resources.

“All that we have been able to deal with is grand corruption. When we started the TSA, the whole point was to aggregate all of the funds of government that were in private banks. So we put all of the money in the central bank so that we could at least see the movement of money and by doing so, we were able to save 50% of the corruption that was going on then.”

He assured Nigerians in the US that the government of President Muhammadu Buhari could be trusted, noting that “we can say for sure that the President is not going to sign off money and just bring it out to share.”

Relying on OPEC statistics on oil revenues accruable to Nigeria under successive administrations between 1990 and 2014, the Vice President said not much had been done in terms of infrastructure development despite the huge oil revenues realized by the country.

According to him, “Under the IBB / Abacha administrations (1990 - 1998) Nigeria realized $199.8 billion; under the Obasanjo / Yar’Adua governments (1999 – 2009), the country got $401.1 billion; and during the Jonathan administration (2010 – 2014), Nigeria got $381.9 billion from oil revenues.”

“The question that we must all ask is that what exactly happened to resources? The question that I asked is that where is the infrastructure.

“One of the critical things that we must bear in mind and see is that this government despite earning $94 billion, up until 2017, we are spending more on infrastructure and capital than any previous government, so we are spending N1.5 trillion on capital, that is the highest we have spent since 1990,” he added.

Responding to concerns on how government is utilizing recovered funds, the Vice President disclosed that the Buhari administration is committed to a transparent use of the funds in providing infrastructure.

He said: “What we are doing with the proceeds of corruption is by making it a line in the budget so that it can be accounted for properly; it is not a special fund somewhere that is just being used in any way, but as a single line in the budget for infrastructure which is our major spend.”

In the area of agriculture, Prof. Osinbajo said, the target was to attain self-sufficiency in the production of rice, tomato etc.

According to him, “We are doing a lot of work in agriculture. Take rice, for instance, we are doing a lot in rice production and we have increased local production such that we are no longer spending $5 million daily on rice import.

“Today, we are doing 11 million metric tons of paddy rice and are now importing only 2 per cent of what we used to import.”

On Nigeria’s rise on the World Bank’s ease of doing business index, Prof. Osinbajo said though the challenges are daunting, the government was committed to going beyond the 24 places it moved up to in the last rankings.

The Vice President added that reforming Nigeria’s port system was top on the agenda of government as
efforts were underway to improve the turnaround time for cargo clearance at the ports.

According to him, “If you look at the port issue, for example, we must be able to clear our port system; people must be able to import and export their goods in hours not weeks and months.

“So, we have to work our port system and one of the things we have been able to do is what we call the National Trading Platform or the single window. We are getting to the point where we are going to launch the national trading platform where the whole port system is integrated into one.”

On improving the health budget at both the state and federal levels, the Vice President said the focus is on trying to do National Health Insurance because funding health care through budgeting has proved to be practically impossible.

According to him, “We simply do not have the resources, the states and Federal Government cannot do enough. So, the National Health Insurance is a very basic part of it and we are currently working now with the World Bank and with the Bill & Melinda Gates Foundation to establish a proper National Health Insurance Scheme.”

Nigeria’s Ambassador to the U.S., Mr Sylvanus Adiewere Nsofor led other Nigerians within and outside the state of Minnesota to the meeting held in Minneapolis.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
27th August, 2018

God bless the VP

Osibanjo is a failure and buhari is a dullard

U

Talk talk talk

Is this for real? Freebasic is back on airtel on naira land.. Showing pictures...

Olodo.
Diversifying the economy will make the country better.
We can't always rely on extractive industries and 10000 naira
Na you start the TSA abi.

Can't believe we are still at this stage in this country, we haven't gotten our bearing right yet.

The able best VP.
The jobless aggressive lazy idiotic pigs of Bia-fra don't know what they want.

They were busy killing the economy through importation of shiit into this country when "we south south" were fighting for resources control and South West were fighting for fiscal federalism.

That is why they are really lazy, always looking for corrupt money.

JobmanNwapdp:
You are a disgrace to human race..............how did this fellow get a professorship....how.......where, this is worst than Buhari because had it been Buhari half educated as he is..He would have done better, osibanjo please Bleep off.

how well have they managed what is in their care

How do you manage resources better? Is it by buying votes in the means of given 5k to 10k as handout or as business investments?

fgg

Imagine the kind of politics we play in this country.
No Ideology, jus calumny.

Who remembers when Tinubu used to sing restructuring and soverign national conference during those term of GEJ?

Now that he has the opportunity to push his agenda his tune changed.
Imagine his manservant saying that restructuring is not what Nigeria needs..

So does the west truly care about restructuring or jus hoax?

I ask sincerely and I want a sincere and objective answer..

You are a disgrace to human race..............how did this fellow get a professorship....how.......where, this is worst than Buhari because had it been Buhari half educated as he is..He would have done better, osibanjo please Bleep off.

presidency:
Office Of The Vice President

Press Release

Managing Resources Better & Providing For The People Properly, Will Move Nigeria Forward, Says VP Osinbajo

*Adds: Geographical restructuring not the problem

In contrast to simple geographical restructuring of the country, prudent management of national resources and providing for the people properly, are better ideas for Nigeria's development challenges, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo who stated this while fielding questions from a cross-section of Nigerians at a town hall meeting in Minnesota, the United States of America on Sunday, spoke on a wide range of issues covering the economy, anti-corruption, health, agriculture among others.

According to the Vice President, “the problem with our country is not a matter of restructuring and we must not allow ourselves to be drawn into the argument that our problems stem from some geographical restructuring. It is about managing resources properly and providing for the people properly, that is what it is all about.”

“I served for eight years as Attorney General in Lagos State and one of the chief issues that we fought for in Lagos state was what you call fiscal federalism. We felt that there was a need for the states to be stronger, for states to more or less determine their fortunes.

“So, for example, we went to court to contest the idea that every state should control, to a certain extent, its own resources (the so-called resource control debate). We were in court at that time up to the Supreme Court and the court ruled that oil-producing states should continue to get 13% derivation.

“While we were at the Supreme Court only the oil-producing states and Lagos were interested in resource control, everybody else was not interested in resource control for obvious reasons. Now, that is the way the argument has always gone, those who have the resources want to take all of it, while those who do not have want to share from others.”

Continuing, Prof. Osinbajo said, “My view is that we must create the environment that allows for people to realise themselves economically because that truly is what the challenge is with our country.”

The Vice President added that Buhari-led Federal Government has put in place an economic structure that is able to function properly despite previous challenges, particularly corruption that led to a slowdown in the economy.

On the impact of corruption on the economy and the solution adopted by the Buhari administration, Prof. Osinbajo noted that “Unless we are able to deal with the fundamental questions especially around corruption, our economic circumstance will keep going one step forward, two steps backwards”.

According to him, “When you talk about corruption in Nigeria, the truth is stranger than fiction. It is the kind of thing that would cripple an economy anywhere because you simply don’t have the resources for the graft and the greed of the numbers of people who want to steal the resources.

“All that we have been able to deal with is grand corruption. When we started the TSA, the whole point was to aggregate all of the funds of government that were in private banks. So we put all of the money in the central bank so that we could at least see the movement of money and by doing so, we were able to save 50% of the corruption that was going on then.”

He assured Nigerians in the US that the government of President Muhammadu Buhari could be trusted, noting that “we can say for sure that the President is not going to sign off money and just bring it out to share.”

Relying on OPEC statistics on oil revenues accruable to Nigeria under successive administrations between 1990 and 2014, the Vice President said not much had been done in terms of infrastructure development despite the huge oil revenues realized by the country.

According to him, “Under the IBB / Abacha administrations (1990 - 1998) Nigeria realized $199.8 billion; under the Obasanjo / Yar’Adua governments (1999 – 2009), the country got $401.1 billion; and during the Jonathan administration (2010 – 2014), Nigeria got $381.9 billion from oil revenues.”

“The question that we must all ask is that what exactly happened to resources? The question that I asked is that where is the infrastructure.

“One of the critical things that we must bear in mind and see is that this government despite earning $94 billion, up until 2017, we are spending more on infrastructure and capital than any previous government, so we are spending N1.5 trillion on capital, that is the highest we have spent since 1990,” he added.

Responding to concerns on how government is utilizing recovered funds, the Vice President disclosed that the Buhari administration is committed to a transparent use of the funds in providing infrastructure.

He said: “What we are doing with the proceeds of corruption is by making it a line in the budget so that it can be accounted for properly; it is not a special fund somewhere that is just being used in any way, but as a single line in the budget for infrastructure which is our major spend.”

In the area of agriculture, Prof. Osinbajo said, the target was to attain self-sufficiency in the production of rice, tomato etc.

According to him, “We are doing a lot of work in agriculture. Take rice, for instance, we are doing a lot in rice production and we have increased local production such that we are no longer spending $5 million daily on rice import.

“Today, we are doing 11 million metric tons of paddy rice and are now importing only 2 per cent of what we used to import.”

On Nigeria’s rise on the World Bank’s ease of doing business index, Prof. Osinbajo said though the challenges are daunting, the government was committed to going beyond the 24 places it moved up to in the last rankings.

The Vice President added that reforming Nigeria’s port system was top on the agenda of government as
efforts were underway to improve the turnaround time for cargo clearance at the ports.

According to him, “If you look at the port issue, for example, we must be able to clear our port system; people must be able to import and export their goods in hours not weeks and months.

“So, we have to work our port system and one of the things we have been able to do is what we call the National Trading Platform or the single window. We are getting to the point where we are going to launch the national trading platform where the whole port system is integrated into one.”

On improving the health budget at both the state and federal levels, the Vice President said the focus is on trying to do National Health Insurance because funding health care through budgeting has proved to be practically impossible.

According to him, “We simply do not have the resources, the states and Federal Government cannot do enough. So, the National Health Insurance is a very basic part of it and we are currently working now with the World Bank and with the Bill & Melinda Gates Foundation to establish a proper National Health Insurance Scheme.”

Nigeria’s Ambassador to the U.S., Mr Sylvanus Adiewere Nsofor led other Nigerians within and outside the state of Minnesota to the meeting held in Minneapolis.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
27th August, 2018

the same thing affecting each and everyone of us in this country....self centeredness....





just my observation...

Abeg who read am?

And our good for nothing #Lifeless President is always making useless trips.


We must vote out these clowns ;(

Restructuring is one step in the right direction! Every Nigerian state should be a federating unit! It's as simple as that! Decentralise power to the states and watch how people will start holding their governors responsible. When that happens, stupid leaders like Yahaya Bello won't be banking in federal might to win an election, neither will an Akpabio be banking on federal powers to hijack party apparatus! If a state governor chooses to use state resources to sponsor people for Hajj, good and fine! Every state should be productive and contribute a percentage of their earnings to the central government.

Like when your oga mess he go run go jand? Abi

Managing resources indeed

What have your government done to manage the resources we have?

U guys shd keep managing it alone..
No lite, no road, no good skul ,no employment ,no food,.
Al we hv is lies yet u managing perfectly

Professor sir, what is the FGN doing about education... Going with the fact that it is one of the least bugdet around the world.

I am not still satisfied with your answer on restructuring sir...

Because so many state Governors are lazy and have no idea on how to improve economic and human resources within them


Eg yaya bello... Ayodele fayoshe... Ben ayede... Dickson ishiaku.. Simon lalong... Rochas okoracha... And many more.

All of them are dumb and have no business running the affairs of the people.

We need someone who can dream and make the dream come through... State infrasture.. Capital development and human welfare. Not some wishful boastful egoistic fortunate and unfortunate touts.

Our problem is not restructuring but corruption coupled with bad leaders.

Restructuring Nigeria will add more to our problems, in fact most of the state resources will end up in the pocket of wealth people in the state thru privatization.

Exactly Mr Vice President is very correct on this one, How can Past administration from the first gulf war, till now mismanage huge sum of money to the tone of $982. Billion

FrozenBlaze:
U

so 69 ongoing project in SE is talk talk.

VP we love you,but please seperate yourself from lifeless thing in ASO ROCK.

presidency:
Office Of The Vice President

Press Release

Managing Resources Better & Providing For The People Properly, Will Move Nigeria Forward, Says VP Osinbajo

*Adds: Geographical restructuring not the problem

In contrast to simple geographical restructuring of the country, prudent management of national resources and providing for the people properly, are better ideas for Nigeria's development challenges, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo who stated this while fielding questions from a cross-section of Nigerians at a town hall meeting in Minnesota, the United States of America on Sunday, spoke on a wide range of issues covering the economy, anti-corruption, health, agriculture among others.

According to the Vice President, “the problem with our country is not a matter of restructuring and we must not allow ourselves to be drawn into the argument that our problems stem from some geographical restructuring. It is about managing resources properly and providing for the people properly, that is what it is all about.”

“I served for eight years as Attorney General in Lagos State and one of the chief issues that we fought for in Lagos state was what you call fiscal federalism. We felt that there was a need for the states to be stronger, for states to more or less determine their fortunes.

“So, for example, we went to court to contest the idea that every state should control, to a certain extent, its own resources (the so-called resource control debate). We were in court at that time up to the Supreme Court and the court ruled that oil-producing states should continue to get 13% derivation.

“While we were at the Supreme Court only the oil-producing states and Lagos were interested in resource control, everybody else was not interested in resource control for obvious reasons. Now, that is the way the argument has always gone, those who have the resources want to take all of it, while those who do not have want to share from others.”

Continuing, Prof. Osinbajo said, “My view is that we must create the environment that allows for people to realise themselves economically because that truly is what the challenge is with our country.”

The Vice President added that Buhari-led Federal Government has put in place an economic structure that is able to function properly despite previous challenges, particularly corruption that led to a slowdown in the economy.

On the impact of corruption on the economy and the solution adopted by the Buhari administration, Prof. Osinbajo noted that “Unless we are able to deal with the fundamental questions especially around corruption, our economic circumstance will keep going one step forward, two steps backwards”.

According to him, “When you talk about corruption in Nigeria, the truth is stranger than fiction. It is the kind of thing that would cripple an economy anywhere because you simply don’t have the resources for the graft and the greed of the numbers of people who want to steal the resources.

“All that we have been able to deal with is grand corruption. When we started the TSA, the whole point was to aggregate all of the funds of government that were in private banks. So we put all of the money in the central bank so that we could at least see the movement of money and by doing so, we were able to save 50% of the corruption that was going on then.”

He assured Nigerians in the US that the government of President Muhammadu Buhari could be trusted, noting that “we can say for sure that the President is not going to sign off money and just bring it out to share.”

Relying on OPEC statistics on oil revenues accruable to Nigeria under successive administrations between 1990 and 2014, the Vice President said not much had been done in terms of infrastructure development despite the huge oil revenues realized by the country.

According to him, “Under the IBB / Abacha administrations (1990 - 1998) Nigeria realized $199.8 billion; under the Obasanjo / Yar’Adua governments (1999 – 2009), the country got $401.1 billion; and during the Jonathan administration (2010 – 2014), Nigeria got $381.9 billion from oil revenues.”

“The question that we must all ask is that what exactly happened to resources? The question that I asked is that where is the infrastructure.

“One of the critical things that we must bear in mind and see is that this government despite earning $94 billion, up until 2017, we are spending more on infrastructure and capital than any previous government, so we are spending N1.5 trillion on capital, that is the highest we have spent since 1990,” he added.

Responding to concerns on how government is utilizing recovered funds, the Vice President disclosed that the Buhari administration is committed to a transparent use of the funds in providing infrastructure.

He said: “What we are doing with the proceeds of corruption is by making it a line in the budget so that it can be accounted for properly; it is not a special fund somewhere that is just being used in any way, but as a single line in the budget for infrastructure which is our major spend.”

In the area of agriculture, Prof. Osinbajo said, the target was to attain self-sufficiency in the production of rice, tomato etc.

According to him, “We are doing a lot of work in agriculture. Take rice, for instance, we are doing a lot in rice production and we have increased local production such that we are no longer spending $5 million daily on rice import.

“Today, we are doing 11 million metric tons of paddy rice and are now importing only 2 per cent of what we used to import.”

On Nigeria’s rise on the World Bank’s ease of doing business index, Prof. Osinbajo said though the challenges are daunting, the government was committed to going beyond the 24 places it moved up to in the last rankings.

The Vice President added that reforming Nigeria’s port system was top on the agenda of government as
efforts were underway to improve the turnaround time for cargo clearance at the ports.

According to him, “If you look at the port issue, for example, we must be able to clear our port system; people must be able to import and export their goods in hours not weeks and months.

“So, we have to work our port system and one of the things we have been able to do is what we call the National Trading Platform or the single window. We are getting to the point where we are going to launch the national trading platform where the whole port system is integrated into one.”

On improving the health budget at both the state and federal levels, the Vice President said the focus is on trying to do National Health Insurance because funding health care through budgeting has proved to be practically impossible.

According to him, “We simply do not have the resources, the states and Federal Government cannot do enough. So, the National Health Insurance is a very basic part of it and we are currently working now with the World Bank and with the Bill & Melinda Gates Foundation to establish a proper National Health Insurance Scheme.”

Nigeria’s Ambassador to the U.S., Mr Sylvanus Adiewere Nsofor led other Nigerians within and outside the state of Minnesota to the meeting held in Minneapolis.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
27th August, 2018

"" Managing Resources Better & Providing For The People Properly, Will Move Nigeria Forward, Says VP Osinbajo ""

Someone shoukd tell this Oshiomoles cousin that Resource control is the only thing that will move Nigeria forward.