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We spend Nigeria’s money on Nigerian, not steal it, says Osinbajo

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7 years ago

May 4, 2018

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Vice President Yemi Osinbajo says the difference between the present administration of President Muhammadu Buhari and any previous administration is that it is not going steal Nigeria’s money, but will rather spend it on the people.

Speaking at the launch of the National MSMEs clinics in Akure, Ondo state on Thursday, Osinbajo said Nigeria’s problems are not insurmountable if the money were not stolen.

“This government is committed to ensuring that the money is given to the people and that the people use the money. That is one of the reasons why corruption is fighting back desperately because they want to come back to do what they used to do before but God forbid, it will not happen again,” Osinbajo added.

Osinbajo disclosed that while previous administrations have been talking about the Lagos-Kano railway for years, the Buhari administration has taken steps in actualizing the project.

“Now we have put money into it, despite the fact that we are earning 60% less. We have started building it from Apapa port. Before the end of this year we will go all the way to Ibadan, in that Lagos-Kano railway.”

“One of the reasons why we hold ourselves to account, why the Vice President will attend a town hall meeting where you can ask your questions, is because we want to be held to account. The money does not belong to us, the money belongs to the people, it is tax payers’ money and we want to be held to account.”

”Those who say they want to see performance must see it in the works that are being done, look at Lagos-Ibadan expressway, how many years, since 1999, they have been talking about Lagos-Ibadan expressway, they haven’t built it. People who are complaining today, who were in government for 16 years, they didn’t build it. Now we are building the Lagos-Ibadan expressway.”

He assured the Ondo state government that the federal government is fully committed to working with it to ensure that, not only are the state’s potentials exploited to the fullest, but that they also translate into a better life for all who live, work and do business here in the State.

Osinbajo said the MSMEs have tended to be neglected in the country over the years, as a result of competing priorities as well as a tendency to discount their contribution to the national economy.

“As individual units, small businesses may appear to be slight, but together they account for as much as 50% of Nigeria’s Gross Domestic Product, GDP, and over 80% of our labour force.”

“Clearly they are an important part of the national economy, and they should be treated as such, more so now that it has become inevitable for us to look inwards so as to become a country that is able to grow what we eat and produce what we consume.”

According to him, since the launch of the programme last year, it has been easier for small businesses to access funds, because the Bank of Industry (BOI), Development Bank of Nigeria (DBN) and the Nigerian Export and Import Bank (NEXIM) have used the Clinics to increase not just awareness of their products, but also make available credit to participating businesses.